{"id":26373,"date":"2022-01-18T10:46:59","date_gmt":"2022-01-18T10:46:59","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=26373"},"modified":"2022-01-19T09:22:53","modified_gmt":"2022-01-19T09:22:53","slug":"should-you-buy-new-or-traditional-build-differences-to-consider","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/should-you-buy-new-or-traditional-build-differences-to-consider\/","title":{"rendered":"Should you buy New or Traditional build &#8211; differences to consider"},"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 data-preserver-spaces=\"true\">When buying a new home, many people have a wish list based on the type of property they\u2019d like to live in. One of the primary considerations usually centres on choosing a traditional or new build, which each presents different benefits \u2013 and downsides.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Marion Ellis, the founder of\u00a0<\/span><span data-preserver-spaces=\"true\">Love Surveying<\/span><span data-preserver-spaces=\"true\">, The Surveyor Hub Podcast and a fellow of the Royal Institution of Chartered Surveyors (RICS), says, \u201cThe first question most buyers ask is, \u2018Will my sofa fit?\u2019 The answer is, more likely, in an older property. New isn\u2019t better than old, it\u2019s just different, and that makes pros and cons very difficult because it\u2019s subjective when we think about the various types of buyers and their reasons for buying.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The green factor\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Energy efficiency is an advantage in newer homes, says Marion, as running costs are lower, and you can ask for proof of just how \u2018green\u2019 a property is. But she warns that many new builds are still being fitted with gas boilers despite the government\u2019s commitment to phase them out by 2035 (1).<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">It comes with character \u2013 and some building challenges.\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">George Clover, a partner at Helmores, the UK\u2019s oldest estate agency, says, \u201cAn older property will no doubt have heritage, original oak beams, wide elm floorboards, hidden fireplaces and quirky room shapes in idyllic settings. For many, this sounds wonderful, but a modern house should be worry-free, straight lines, matching d\u00e9cor, warm, energy-efficient, with parking and defined boundaries \u2013 easy to compare to other properties when committing financially.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Older properties are more likely to be in a conservation area or listed with English Heritage, which can mean attractive historical character, but specific alterations \u2013 say, replacing a rotten window or moving a doorway \u2013 may require listed building consent and planning permission with a conservation office.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe restrictions can stretch to practical reasoning too,\u201d says George, \u201cit\u2019s much harder to make an older property energy efficient if it\u2019s listed due to the material or visual changes often required \u2013 think solar panels, floor and wall insulation and uPVC double glazing.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">That said, more than half (54%) of Brits surveyed by\u00a0<\/span><a class=\"editor-rtfLink\" href=\"http:\/\/www.aviva.co.uk\" target=\"_blank\" rel=\"noopener no-follow\"><span data-preserver-spaces=\"true\">Aviva<\/span><\/a><span data-preserver-spaces=\"true\">\u00a02 prefer a traditional style house, with the remainder happier with a modern build. And, when it comes to building quality, 62% favoured the build quality of a traditional home, with 22% of modern home-dwellers saying they were unhappy with the build quality and wished they had a more traditional house.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">New builds still need a refresh.\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">\u201cA new home will still have maintenance responsibilities, and you need to ensure they\u2019re met, and you don\u2019t ignore them,\u201d says Marion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">She says potential buyers\u2019 primary considerations should start with money \u2013 assess whether you can afford to maintain and repair the property. For instance, older homes with wood-framed windows need regular servicing. And while new homes with plastic windows won\u2019t need traditional painting, they nevertheless need to be checked to ensure they work efficiently.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cRepairs don\u2019t have to be done all in one go, and maintenance is cyclical, so you need to assess how urgent it is to repair something \u2013 that\u2019s why RICS surveyors often use \u2018condition ratings\u2019 to determine how urgent, or significant the problem is,\u201d says Marion. \u201cJust because something is old doesn\u2019t mean it will need replacing anytime soon if it\u2019s functional.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Potential for negative equity\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Speaking about newer build properties, George warns, \u201cThere may be a higher risk of negative equity with the use of small deposit mortgages being combined with developer incentives, which could lead to more risk should there be a rate rise or change to the housing market.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Are you looking for your forever home? Perhaps a new build isn\u2019t for you.\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">\u201cThere\u2019s less opportunity to create a personalised property in a new build \u2013 you buy it because it suits your needs at the time, but newer properties can\u2019t often grow with families\u2019 needs due to the smaller plots and maximised areas,\u201d says George, \u201cso it could be that new properties change hands quicker than older ones.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIt\u2019s not cheap to move, by the time you factor in legal and professional fees, mortgages and surveys, not to mention stamp duty \u2013 the cost soon adds up.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Spik and span before glitz and glam\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Property maintenance helps to keep value and helps with saleability, says Marion. She warns many homeowners to prioritise decoration, but a surveyor and valuer examine condition. For example, a clean, tidy house in good repair is worth more than a lavish home with issues that could result in damage, such as overflowing gutters that can cause dampness, or a lack of working extractor fans in the kitchen and bathrooms, that could cause causing condensation and black mould.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">It all comes down to one question \u2013 can you see yourself living there?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">There\u2019s never a right or wrong answer when choosing a new versus the old home. George says the personal choice is critical \u2013 but always factor in lifestyle, budget and character.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThere\u2019s no doubt that an older property will require a bit more looking after, and this may cost a little more, but this can be rewarding in itself.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cNew or old, the main thing is, if you can imagine pulling up outside at the end of the day, looking at your property, smiling and thinking, \u2018I\u2019m home,\u2019 then that\u2019s the one for you.\u201d<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Old, new, big, small \u2013 every house should have insurance\u00a0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">It\u2019s essential to understand what kind of insurance you have and what it will cover, says Marion. With older properties, beware of any fire risk, and put in place a buildings reinstatement cost that reflects that property and its period features \u2013 this can be obtained from an RICS registered valuer.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWhen it comes to new builds, there are a few things to be aware of,\u201d she adds. \u201cAn NHBC warranty only covers the structural elements of the building. If you find the fittings, such as bathroom and kitchen, have been incorrectly fitted and it causes, for instance, significant water damage, you will not be covered, and that can be expensive. It\u2019s why many people look to obtain a snagging survey \u2013 a check of a new home to make sure it\u2019s to a good standard.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As George says, the reason that anyone with a mortgage is required to have <a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">home insurance<\/a> is that things go wrong, often through no fault of the owner: \u201cSo however careful you are, you need to be protected. You will need to advise the insurers of the ins and outs, especially of an older property, to ensure that you\u2019re covered, and in the event of a claim, you\u2019ll be able to get things fixed and continue to enjoy your home.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It is recommended to carefully read your insurance policy documents so you\u2019re clear that it covers your needs.<\/span><\/p>\n<p>References<\/p>\n<p class=\"p1\">(1) <a href=\"https:\/\/74n5c4m7.r.eu-west-1.awstrack.me\/L0\/https:%2F%2Fassets.publishing.service.gov.uk%2Fgovernment%2Fuploads%2Fsystem%2Fuploads%2Fattachment_data%2Ffile%2F1036226%2FE02666137_CP_388_Heat_and_Buildings_Accessible.pdf\/1\/0102017e530a4446-782b048c-617c-4ffa-8f68-e3ea8e3c584e-000000\/oRBBN6PqNZ4khPD2txqiV0Z5_50=253\">Heat and Buildings Strategy<\/a>,\u00a0Presented to Parliament by the Secretary of State for Business, Energy and Industrial Strategy by Command of Her Majesty<\/p>\n<p><span data-preserver-spaces=\"true\">(2) Censuswide Survey completed on behalf of Aviva. Censuswide surveyed 2,009 nationally representative consumers between 19.08.2021 &#8211; 23.08.2021.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When buying a new home, many people have a wish list based on the type of property they\u2019d like to live in. One of the primary considerations usually centres on choosing a traditional or new build, which each presents different<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/should-you-buy-new-or-traditional-build-differences-to-consider\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":45,"featured_media":15985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7,1],"tags":[],"wl_entity_type":[602],"modified_by":"Editor","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/building-survey-1.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/should_you_buy_new_or_traditional_build_-_differences_to_consider","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/26373"}],"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\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=26373"}],"version-history":[{"count":6,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/26373\/revisions"}],"predecessor-version":[{"id":26380,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/26373\/revisions\/26380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/15985"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=26373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=26373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=26373"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=26373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}