Buying New Homes
There are many reasons you might prefer to buy a new property rather than an old one.
New homes come with a 10-year warranty from the National House Building Council.
There should be almost no maintenance, no old lead piping to replace, no flaking paint, no crumbling pointing etc.
New homes are over four times more energy efficient than older homes and therefore greener. This also means they are far cheaper to live in, with lower heating bills.
Fire-resistant materials, and fire and smoke alarms come as standard.
The layout, size and allocation of space meet modern living requirements, not those of past eras. (Research from the House Builders' Federation shows that the lack of connecting rooms in older homes can mean that up to 17 per cent of the total space is wasted).
Kitchens and bathrooms are already fitted, which can save thousands of pounds. Sometimes even electrical and white goods are already supplied.
If you buy before the property is completed, you may have some say over the siting of particular rooms and the facilities included in the property.
Carpets and curtains may be included in the price.
You get a blank canvas and can impose your own taste from the outset.
There is no onward chain, significantly speeding up the buying process.
Many properties are smaller one and two bedroom homes or studios in inner cities, tailor-made for first time buyers.
The new homes market is becoming more popular with buyers and home builders are offering some great incentives. Deals on offer might include:
Move in for six months free.
Stamp duty paid for you, a significant saving.
Your legal fees paid.
Your service charges paid.
5 per cent deposit paid.
Shared equity.
However, there can be snags. Many new-build properties are mediocre, says the Commission for Architecture and the Built Environment, and developers often pay too much attention to parking and roads, and not enough to the design and character of the buildings they're constructing. The Commission advises prospective buyers to commission a survey, just as they would with an older property, and to particularly look out for:
Build quality.
Energy efficiency.
Light efficiency.
Security.
Resources
The average price of a property in September 2007 stood at 183,896, a rise of 0.4 per cent on August 2007. Search house prices for property sold in the Uk since 2000.