Why Love New?
- Turn-key.
A Turnkey home is a massive advantage for buyers as it offers convenience and immediate readiness for occupancy, sparing people the hassle of renovations or cosmetic touch ups.
- Lower energy consumption.
Paying the new build premium is well worth it as it will save you money in the long run. A new home naturally has a lower energy consumption as a result of modern building techniques which is hugely beneficial for both the environment and home owners wallets as it reduces carbon footprint and saves on utility costs.
- Reduced running costs.
As new build homes have to meet high energy efficiency standards this naturally reduced the costings for utilities. More than 80% of new builds have an energy efficiency rating of an A or B – which in comparison only 4% of older homes hold this rating.
Although often an overlooked fact, new builds come with a high standard of security which reduces insurance costs.
- Low maintenance.
With a brand new property, the likelihood of having to pay out for maintenance is very slight. Also, when it comes to the purchasing process, the most expensive surveys will not be required as they are with some second-hand homes and a high volume of new home buyers decide not to get a survey at all. Similarly, between exchange and completion, a snagging checklist will be carried out to ensure any imperfections are correct in preparation for its new occupants. Another big cost which is slimmed with a new build, is not having to repair/replace white goods and appliances as they are all brand new and come with warranties.
- 10 Year New build warranty.
New build homes come with warranties, so you don’t have to fork out for any major structural repairs.
- No Onward Chains.
Buying a new build also gives you slightly more security in terms of purchasing as it is very unlikely for them to ‘change their minds’ about selling, like a lot of private home owners do, at the end of the day, it is a business and the developers want to sell their homes to you.
When finding a buyer on your home (if you need to) it also is more desirable to people as they know their isn’t a big upwards chain to worry about taking forever to complete the legal processes.
- Blank Canvas.
Being the first person to ever live in a house gives buyers a completely blank canvas to put their on stamp on the property which with some second-hand homes is not possible.
- Deals & Incentives Offered.
Developers often offer certain deals and incentives to entice people to buy their properties. The market is very competitive and each developer tend to offer something different to attract buyers – this also gives buyers some negotiating room so they can afford the home they want. Examples of this being, legal fees paid, stamp duty covered or contribution or alternatively non-monetary incentives could be a parking space, white goods included etc. which are to some buyers, equally beneficial.
- Snagging.
Snagging checklists / appointments are a crucial part of buying a new build as it is the buyers opportunity to point out / flag any imperfections which need correcting – ensuring a immaculate home when they move in.
- Customisation.
If you get in the process early enough, a lot of developers have options available to you to make choices / changes so the property is to your taste, whether this be fixtures, fittings, paint colours or sometimes even layout if you are reserving off plan. These options mean you wouldn’t need to factor in changes down the line.
- Modern Living.
Developers (especially smaller ones)
- Mortgage incentives.
There are a lot of incentives / schemes available to people buying new build properties.
