Why should I buy a new build?
When buying a new home, a new build property often seems like an appealing prospect for many buyers. A new home opens up the opportunity to put your own stamp on it - giving you freedom with what you want in the property from the kitchen to the carpets! A new build has never been anybody else's and everything in there is in top tip condition.
Home maintenance in new builds is usually minimal, with key components like brand new boilers and electrical and gas work that meets regulatory requirements. You will also have peace of mind that the building itself will be under guarantee for the next 10 years.
New homes are often more energy efficient, making them great for keeping the bills under control, whilst doing your bit for the environment too! If you want to live in a home without the hassle of unexpected faults and maintenance work a new build could well be the answer for a hassle-free home move.
Financial advantages also come with new builds. The government’s Help To Buy Equity Loan Scheme will enable you to purchase a new build with just 5% deposit. If it’s your first home, the Starter Homes initiative offers a 20% discount on new homes – a massive saving and incentive for those itching to get a foot onto the property ladder.
If your home hasn’t been built yet, and you are buying off plan then you could find yourself in a sticky situation as most mortgage offers have a time limit on them, meaning after a certain period you have to apply again – which is inconvenient and costly.