When buying a new home, many people wonder whether it’s better to invest in a modern, eco-friendly new build or opt for a more traditional property packed with period features and character.
Here at Cobb Farr, we believe that there is no right or wrong answer.
It’s more important to get clear on your needs and requirements, weigh up the pros and cons of buying a new build and only then decide whether a new build meets your needs.
We’ve created this article to help simplify your decision, explaining the main advantages and disadvantages as well as other factors you should consider.
Of course, if you’d like to know more about our new build portfolio or have further questions, please don’t hesitate to get in touch – we’re always happy to help.
What are the pros of buying a new build?
You can move in right away with minimal work
When you buy a brand new home, you’ll be able to move in, unpack your belongings and enjoy your modern, stylish home without needing to worry about renovation or upgrades.
For example, our Old Timber Yard development has been designed to an exceptionally high standard, using stunning materials like limestone, oak, Porcelanosa tiles and the softest carpets so you can enjoy a touch of luxury with less stress or hassle.
You also won’t have to worry about immediate repairs, structural defects or other problems that need expensive attention, leaving you to enjoy total peace of mind.
Your property purchase will be chain-free
New build properties are also chain-free. This means that you will be the first owner of that home so you won’t be depending on another homebuyer for the transaction to be completed and it’s less likely your purchase will fall through or suffer from delays. Obviously, you may have a chain leading up to the sale of your own house, but at least you won’t have one for your new home purchase.
Lower energy bills
All new homes are built with energy efficiency in mind to reduce heat loss, protect the environment and save money on energy costs. This often features double glazing, insulation and energy-efficient systems that ensure homes meet the latest building regulations and achieve a high EPC rating.
Our beautiful Old Timber Yard development in Maiden Bradley includes air source heat pumps, PV panels, electric car charging points and underfloor heating that help ensure your home is as eco-friendly as possible, without extra investment from you. The popular Church Farm development at Hilperton also offers many of the same features.
You might get help buying your new home
Buying a new build is often more financially appealing because of the incentives many developers offer, such as covering your stamp duty, offering extra features or special financing for the purchase.
Many financing opportunities are also available when you buy a new build such as the Help to Buy Scheme and the Shared Ownership Scheme that help first-time buyers get onto the property ladder.
You could customise your new home
Many developers also allow you to personalise certain aspects of your new home including the floor plan, finishing and certain fixtures. This ensures that your property will reflect your personal taste and you won’t have to change a thing.
What are the cons of buying a new build?
You may need to pay extra fees
New build properties are often managed by private management companies so you may have to pay a maintenance fee. If you are concerned about this potential additional cost, ensure you ask about fees when viewing a property so you can make your decision.
You may also need to pay annual fees, ground rent and maintenance charges if your property is sold as a leasehold instead of a freehold. If you’re not sure, ask your conveyancer for further information.
The quality of construction may not be what you expected
As everyone who has ever built, renovated or decorated a property knows, mistakes and problems can sometimes occur with new builds. This can include small details like loose tiles, doors getting stuck on new carpets or plumbing problems. Having said that, these can be identified by conducting a professional snagging survey and allowing the construction company to resolve any issues before you move in.
The new build property may have less character and charm than period properties
Many people feel that new build properties lack the historical appearance, or those unique period architectural details found in older homes that add character. They can also feel that they are too standardised for them and prefer a period property instead.
However, considering that many developments allow buyers to customise the layout and their properties, use high-quality, tasteful materials and offer further customisation options, this needn’t be a problem for those who love unique properties.
You could suffer from unexpected delays
Unfortunately, new builds don’t often run to the desired timescale and can be delayed by poor weather, material shortages, building approval, and so on. This could disrupt your moving plans and cause extra stress, not to mention potential problems with gaining a mortgage offer.
Summary
To recap, there are several pros and cons of buying a new build home that you should weigh up before you make your decision.
While new builds are modern, eco-friendly, chain-free and offer many customisation options, they can lack those period features and charm that many people love in our other Bath, Bradford on Avon, Wiltshire and Somerset homes.
Our advice is to consider your needs and your options before making an offer on your next home. Get in touch with our friendly team at Cobb Farr if you need further help or support.
