Whether you are looking to take your first step on to the property ladder, upsize to a larger family home, or downsize to a lower maintenance property, one of the first questions in your property journey is likely to be: “Do I buy new or second-hand?”.
We sat down with Nick Lieb, Head of Operations at Share to Buy, the country’s leading first time buyer property portal specialising in Shared Ownership and Help to Buy, to discuss some of the reasons why so many buyers opt for a new-build home…
- Minimal maintenance and high spec
Unlike resale properties, owners of a new-build have a quality assurance that negates the risk of additional costs after purchase. Everything is brand new and will benefit from warranties, so buyers can be confident they will last for years and won’t be shelling out on a new boiler within six months of moving in. Plus, with housing associations like L&Q, premium extras like integrated appliances, flooring and turf are all included in the price.
- A blank canvas
One of the key reasons people buy new-build homes is because it gives them a blank canvas to work with to create their perfect home. Buying a home that has already been lived in can mean having to compromise your vision based on what previous owners have done to it already, or having to spend more money to undo their work.
Plus, with a large number of new homes that are available to purchase off plan, there’s often the opportunity to personalise specific aspects; from the kitchen cabinets to the bathroom tiles.
- Breadth of home buying schemes
Developers of new build properties such as L&Q, often offer the chance to purchase through schemes such as Help to Buy and Shared Ownership. These different buying options can help purchasers who might not have the necessary savings or income to buy on the open market.
There’s specialist schemes for second-steppers and downsizers too; Assisted Move and Part Exchange are both designed to make it easier for buyers to sell their existing home, so they can focus their efforts on their upcoming move.
- Move in fast
Everyone knows the stresses associated with property purchases, particularly those in a chain where one sale falls through and suddenly a tidal wave of issues arise. As the first owner of a new build property, you won’t have a chain above you, meaning far less stress and hassle.
- Eco-friendly and more affordable running costs
New-builds are typically more energy efficient than older houses, which helps to lower energy bills. Newer building materials, better insulation, double glazed windows and energy efficient boilers all contribute to making for a greener home.