New Home & Pre-Owned?

When it comes to investing in a new home, many people put the age and history of the house high up the requirement list. There’s quite a number of differences between a house built a hundred years ago and one completed yesterday, potential buyers should take these differences  into consideration before they decide between purchasing a pre-owned homes or a new build. But what exactly are those differences?

Personalisation:

With a new build you’re able to have the builder customise the home before construction is completed, so it will be built with your personal touch and painted in your color palette – a big bonus! With new construction or pre-construction purchases, the work is done for you. You don’t have to lift a finger, a paint brush, or a hammer – You’re moving into a house that should be totally complete and absolutely perfect. That “new house smell” is definitely a luxury!

The Good Life:

New homes come with some of the design elements that today’s lifestyle demands: open, eat-in kitchens, walk-in closets, and large master baths to name a few. Period properties often require extensions and the demolition of internal walls in order to achieve an open plan layout, this can create additional stress – something you don’t need when buying a house!

The Property Chain:

When buying a pre-owned property it is more likely than not that the vendors of the property will be in a chain, when you become involved in a chain the chances of a fall through increase, as other elements in the on-going chain are out of your control. One of the major benefits of new homes for first time buyers is that since no one is living there already, you won’t get caught out if someone in the chain of buyers backs out of the deal. This also gives you a little more leverage to negotiate a better mortgage deal; you have as much time as you need.

Maintenance Costs:

A big financial benefit of buying new is that you won’t have to do much maintenance. With brand new appliances, washing machines, dishwashers, plumbing and heating you should be repair free for at least a few years. Pre owned homes tend to have older appliances that are often in need of replacing, this also means that older appliances are less efficient.

Energy Costs:

Utilising new construction materials, just-built homes are more energy efficient; that means potentially lower utility bills. Single glazing throughout a pre-owned property is also often an issue, it can cause heat loss, leading to higher energy bills and increased external noise. New builds provide double or triple glazing, this increases insulation and reduces external noise.

Better safety measures:

New builds are built under the housing legislation of the 21st century, they are generally a lot safer than older homes. Things like fire retardant building materials, fire doors and Yale locks improve safety and wellbeing for residents, as well as the fact that in the UK it’s guaranteed you won’t find asbestos, which has only been banned since 1999.

Warranties:

Most new homes will come with a ten-year warranty giving you a security blanket in the face of any major problems with the property. The newly installed appliances will also come with their own warranty.

Spacious:

The National House Building Council is the governing body of Building Regulations. The new regulations put in place allocate minimum square footage for dwellings, this means living space is not compromised. Pre-owned properties can provide very small rooms, which today would not pass the regulations.

Period Features:

Often people assume buying new means forgoing period features. Conversions of period dwellings (similar to Birch Grove: http://smcproperty.co.uk/property/forty3-birch-grove/ ) allow you to have the feel of a period home whilst benefitting from the latest features a new build provides, such as new appliances and provisions under the building regulations – the perfect compromise for period feature lovers!