PROS AND CONS OF A NEW BUILD HOME
If you’re reading this, chances are you’re on the fence about your decision on whether or not to purchase yourself a new build home. After all, the number of new build homes going up lately has been rather noticeable.
For some, a new build home seems like their only way to finally get both feet on that property ladder and, for others, the thought of living in a new build home sends shivers down their spines.
Regardless of your stance or if you’re undecided, you may find this blog useful in helping you decide on your next steps. So, let’s get right into it.
PROS OF A NEW BUILD HOME
- Brand New – a new build home isn’t just a home, it can act as a blank canvas, ready for you to move in and make your own. As opposed to other properties, when you move in, new builds are bare, coming with fresh paintwork and empty rooms.
- No Previous Owners – with a new build, there is no previous owner, the fear of wear and tear through years of accommodating others, you are the first owner of the property and the first to live in it.
- Modern Design – the higher end of new build homes can come with all the new technology that makes them more of ‘smart homes’ rather than regular homes. Modern touches like an open-plan layout are also features you could expect to enjoy.
- Schemes – new builds often have attached to them, schemes that help first-time buyers get on the property ladder. Such schemes include ‘Help To Buy’ and ‘Shared Ownership’.
- Energy Efficient – having to comply with the latest building regulations means new builds are far more energy efficient than older properties.
CONS OF A NEW BUILD HOME
- No Longer New – with a new build, once you’ve moved in, the value dips as the property is no longer ‘brand new’. So, if you’re looking to sell a year, or so, down the line, you may find the other local new builds are beating you to the sale.
- Snags – these sorts of properties have come under some scrutiny over the years in terms of snags and quality. This type of activity is particularly popular on social media and is definitely something to be on the lookout for.
- Less Space – sometimes, a new build site can seem less favourable where space is concerned. As a way to maximise profits, some developers may cram as many homes into one site as they can.
- Estate Management Charges – purchasing a new build on a privately managed new build estate could mean that you are lumped with paying extra charges towards the maintenance of shared spaces, such as playgrounds.
- Delays – it is not uncommon for new builds to not always go according to plan. This may be seen as not too much of a big deal to some, but having to wait longer than expected to move into your property could lead to stress and extra charges.
Hopefully, we have helped some of you learn a bit more about the advantages and also the disadvantages of new build homes. Remember, there is a lot more information on this topic elsewhere and you should do your own research to make an informed decision.
There is another option if your heart is set on a new build and you have the land. Consider your own self-build with Bespoke Norfolk Group. Imagine building your dream home from the ground up with one design and build company.
For more information on how Bespoke Norfolk Group can help you, please don’t hesitate to get in touch with us today.