It’s New Homes Week from 14th-20th May, and there’s a chance to look at all the ways in which a new build property can save you money. From building guarantees to incentive schemes from developers, buying a new home can be a great choice.
This year New Homes Week compares the cost of upgrading an older property to the high standard of a new-build, against buying new from the outset. It’s an interesting comparison that’s quite illuminating, and could put new build homes firmly in your spotlight.
They present many benefits for homebuyers, so what are some of the major advantages of choosing a new build home?
NHBC 10-year guarantee
Repair bills for your new-build home are covered by a 10-year NHBC or LABC insurance-backed guarantee. This not only provides peace of mind for you financially, but also allows you to transfer the guarantee to future buyers if you decide to move on during the ensuing 10 years.
You can buy off-plan
If you buy your home off-plan, you may be able to choose the plot and interior fixtures and fittings such as the kitchen units and white goods. There could be a plot available with a much sought after south-facing garden, for example, or a corner position that offers more outdoor space. Choosing your fixtures and fittings is also a huge benefit, allowing you to put your own mark on your property.
Purpose-built for modern living
New homes are built with modern living in mind, and with no significant maintenance to worry about, you’ll be able to enjoy a more relaxed lifestyle as a homeowner. You can rest assured that your home will meet all the current standards of security and fire safety, with burglar alarms and security lighting often installed as standard.
Energy efficient heating systems are a big plus when you buy a new build. Along with top quality loft insulation and double-glazing, your heating bills could be considerably reduced if you’ve been used to living in a period property. Not only that, the trend towards eco-friendly energy sources continues, and you may be able to take advantage of solar PV systems that could save you money over the coming years.
Being part of a house-buying chain, whatever the length, is a stressful situation due to the possibility of others dropping out. This uncertainty is present throughout the process when buying an older, pre-owned house, but buying new means you can navigate the purchasing process more easily and take immediate possession.
New home schemes
A number of schemes including Part Exchange, Home Change, and Help to Buy, which is backed by the government, help you speed up what can be a slow property purchasing system in this country. Developers may also offer incentives such as free carpets, or perhaps financial help with Stamp Duty.
During New Homes Week you’ll be able to hear the experiences of people who have purchased a new home, and obtain answers to your questions. It’s a great way to buy a property, enjoy a relatively maintenance-free life, and benefit from the increased energy efficiency that new homes offer.