Top Things to Consider When Buying A New Build Property

by Hannah

Moving house can be a very exciting but a very daunting time. It’s a time spent packing up all of your belongings, arranging delivery drivers etc and there is so much to get in order before the big day. If you’re thinking of moving into a new build, however, there are several things that you will want to consider…

Your Budget

How much do you have to spend on the move? Are you able to get a mortgage for it? How much is your current home worth and will you need to find additional finance along with the money you received from the sale of it?

Where You Want To Be Located

Often, new builds are either built in the heart of a city/village or on the outskirts. When looking at proposed locations for the properties, consider how your new home will fit into your current lifestyle and whether it works for you and your family. 

If You Want To Make Any Big Changes: of course, you can make additions and changes to your new build property, such as adding a renovation at the back of it. But if you want to make a big change, you might not be able to due to the lack of space. 

A lot of new builds are built in community like settings with close neighbours – meaning you won’t have the freedom of massively extending your property. 

Benefits

They Are More Energy Efficient: It’s no secret that new houses are more energy efficient than older properties. With better heating systems and features such as double glazing, you’ll be able to keep your energy bills low throughout the seasons – no matter how cold it is. 

Less Maintenance: A big plus point with a new build is the fact that they have low maintenance costs. As they are constructed with newer materials, they will last longer and be less effort to upkeep – one of the biggest reasons as to why they tend to be the number one choice for first-time buyers and those looking for a more stress-free living situation. 

They Are Very Safe: Modern construction standards require each new build to be fitted with smoke alarms and to be built with fire-resistant materials. 

They Are More Secure: All newbuilds tend to be more secure due to their use of Standard 5 lever security locks on both of the doors and the windows. This decreases the possibility of a break in. 

Customisation: Usually a new build construction company will allow you to choose the specification of your new property along with any fixtures and fittings you want to add to it. Making the process easier for you, you can move into a complete home. 

Cons

It Can Be Harder To Get A Mortgage: Unfortunately it can be harder to get a mortgage due to the strict loan to value that they come with. Requiring a larger deposit and often high interest, a mortgage for a new build could be out of your reach. 

Poor Build Quality: Of course, this isn’t always the case. But unfortunately, it’s something that you should consider from the outset. As some new build properties are built quickly, the quality and finished product could not meet your expectations. For example, for quickness some new builds are constructed with stud walls as they are a cheap option. These, however, result in poor sound insulation.

You’ll Have To Wait For It To Be Built: If you opt for a new build, you’ll have to wait for the home to be completed. There could also be several delays throughout the process, meaning that you won’t be able to move into the property for quite a while.

Nb. Collaborative post.

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