{"id":21573,"date":"2020-02-17T19:23:36","date_gmt":"2020-02-17T19:23:36","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=21573"},"modified":"2020-02-19T18:27:46","modified_gmt":"2020-02-19T18:27:46","slug":"to-buy-or-not-to-buy-a-new-build-home","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/to-buy-or-not-to-buy-a-new-build-home\/","title":{"rendered":"To buy or not to buy a new build home\u2026"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span>Are you buying your first home, your next home or possibly your last home, or are you looking for a buy-to-let opportunity? Whatever category of residential property buyer you fall under, there are essentially two types of property that you can choose from: a brand new home or a pre-owned building.\u00a0<\/span><\/p>\n<p><span>They both come with their own upsides and downsides, and before you make a decision to head into one or the other direction, it\u2019s a good idea to look at the pros and cons of each. Here are 4 key factors you should take into account.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h2><b>It\u2019s just been built so it must be in perfect condition, right?<\/b><\/h2>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span>One of the main attractions of investing in a newly built home is that it\u2019s brand new! Unlike older buildings, there\u2019s no wear and tear, no outdated fixtures and fittings, no antique electrics or plumbing and, best of all, no expensive structural repairs to worry about. And even if you do find a problem, new homes are typically covered by a <\/span><a href=\"https:\/\/hoa.org.uk\/advice\/guides-for-homeowners\/i-am-buying\/new-home-warranties-cover\/\"><span>10-year NHBC warranty<\/span><\/a><span>.<\/span><\/p>\n<p><span>That\u2019s the theory, anyway.<\/span><\/p>\n<p><span>Unfortunately, just because a building has just been constructed, it doesn\u2019t mean that there can\u2019t be things wrong with it. If you choose to buy brand new, make sure you draw up a snagging list once the builders have gone, and identify every little problem that may have been overlooked during the build. If you\u2019re lucky, you won\u2019t find anything worse than a chipped tile or a missing cupboard handle. But be warned that some buyers have reported serious defects including faulty pipework, broken roof tiles or missing domestic appliances that are much more bothersome to sort out.<\/span><\/p>\n<p><span>Whether you buy a new or pre-loved home, it\u2019s a wise precaution to instruct a surveyor to inspect the building for defects and potential risks. For your own peace of mind, choose a RICS Chartered Surveyor who is likely to recommend a basic Condition Report for new-builds to assure you that it\u2019s structurally sound.\u00a0<\/span><\/p>\n<p><span>\u201cIt\u2019s a big investment that you simply cannot afford to go wrong. Whether you plan to live in it, rent it or sell it, as a property owner you will benefit from specialist advice and valuable information on the condition of the property,\u201d says residential surveyor, <\/span><a href=\"https:\/\/www.briangalesurveyors.com\/\"><span>Brian Gale<\/span><\/a><span>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h2><b>The footprint may be smaller but the layout is well thought out.<\/b><\/h2>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span>There\u2019s no getting around the fact that floorplans are simply no longer as generous as they once were. Modern homes are more compact in their design, with layouts that maximise the available space, and the developer\u2019s profit. Did you know that new homes in Britain are the <\/span><a href=\"https:\/\/www.pbctoday.co.uk\/news\/building-control-news\/uk-smallest-homes-europe\/32902\/\"><span>smallest in Europe<\/span><\/a><span>, measuring only 88 square metres for an average three-bedroom house?<\/span><\/p>\n<p><span>While this obviously doesn\u2019t make for great reading, you should ask yourself whether it actually matters that much how big the property is? Whether you\u2019re looking for a starter home or a rental investment, or are downsizing in your autumn years, a spacious environment is not the be all and end all. As long as there is enough room for you and your family, and the property is in the right location, the square footage doesn\u2019t have to be the key purchasing factor.<\/span><\/p>\n<p><span>What is more important when you view a modern show home is that you pay attention to the quality of the space you are getting, and this includes room sizes along with ceiling heights, storage facilities and outdoor space.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h2><b>Do new-build properties offer better or worse value for money?<\/b><\/h2>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span>Unfortunately, just as with a new car, buying a shiny new home will come with a premium price tag that will be lost as soon as you get the keys. To get the value back, you will make some savvy improvements (tricky with a new property) or stay there for several years and hope for capital growth.\u00a0<\/span><\/p>\n<p><span>In exchange for the premium price, the developer may be flexible to negotiate some \u2018extras\u2019 to be thrown into the deal \u2013 new white goods or premium carpets spring to mind.\u00a0<\/span><\/p>\n<p><span>Opinions are split whether it\u2019s better to <\/span><a href=\"https:\/\/www.zoopla.co.uk\/discover\/property-news\/is-the-new-build-premium-worth-it\/#7fzF46UYqERSMEf0.97\"><span>pay a premium to be the first owner<\/span><\/a><span> of a brand new home, or whether it\u2019s preferable to buy a potentially cheaper, pre-owned property where you could add value, say through a kitchen redesign or loft conversion. Weigh up the possibilities and make a decision that works for your personal circumstances at this point in your life.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h2><b>It\u2019s a blank canvas that you can decorate to your heart\u2019s content.<\/b><\/h2>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span>If you buy a pre-owned property, it will have been decorated in the style of the previous owner \u2013 which may or may not be a good thing in your eyes. The older the property, the more history it has, and that includes past owners leaving their mark with their own idiosyncratic interior and exterior choices. The wallpaper stripper may become your best friend\u2026<\/span><\/p>\n<p><span>A new-build home, on the other hand, is fresh out of the box; it\u2019s a blank canvas that you can <\/span><a href=\"https:\/\/www.taylorwimpey.co.uk\/buying-with-us\/personalise-your-home\"><span>personalise as you wish<\/span><\/a><span>. But can you really? Bear in mind that if you\u2019re buying direct from a developer, they won\u2019t just give you free rein over the choice of carpets and paint colours. Instead, there\u2019ll be a specification catalogue with a range of standard options, plus a few more premium ones you\u2019ll have to pay extra for. And in all likelihood, these are all going to be neutral d\u00e9cor options.\u00a0<\/span><\/p>\n<p><span>If you love a neutral interiors scheme, this may be the perfect solution for you. Otherwise you may find yourself redecorating as soon as you move in, having already paid for brand new fixtures and fittings, carpets and curtains that you don\u2019t really like.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you buying your first home, your next home or possibly your last home, or are you looking for a buy-to-let opportunity? Whatever category of residential property buyer you fall under, there are essentially two types of property that you<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/to-buy-or-not-to-buy-a-new-build-home\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":21595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2020\/02\/Capture-11.png","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/to_buy_or_not_to_buy_a_new_build_home","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21573"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=21573"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21573\/revisions"}],"predecessor-version":[{"id":21574,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21573\/revisions\/21574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/21595"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=21573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=21573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=21573"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=21573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}