The question is how much would you be prepared to spend in order to make a house a home once you have moved in? When you move it is common that you will to want to put your own personal touch on the new place. If you’re lucky you may get away with a lick of paint, but often may need to update the kitchen and bathroom. Beyond the cosmetic the boiler or heating system may need replacing and the list goes on with new double glazing, insulation, soffits, facies, guttering etc. etc. This can all add up to a large cost over and above the actual costs of moving home.
Indeed recent Home Builder Federation (HBF) research suggested that the cost of upgrading an older 3 bedroom semi-detached house to the same specification as a new build property can be as much as £45,000.
We all like to save money where ever we can, but buying a new home is not just about saving money. It’s about creating your own home from a blank canvas rather than adapting to the previous owner’s ideas and style, it’s all yours to begin with, somewhere you can call home.
These are just a few of the reasons why a New Build home could be the best way forward:
As time passes our life style needs and wants often change and new home builders are always looking at different ways to adapt their designs to match the latest trends.
Today, there is a strong preference for open-plan, multifunctional spaces where the kitchen has become the hub of the home to enjoy with the family and entertain friends. This is a style you will find in many new builds without knocking down walls.
A new build home offers a clean and fresh new space to express your own style and personality. Some new home builders will also allow you to choose your own kitchen, bathroom and flooring if you reserve at an early enough build stage.
Buying a new build means there is no need to enter into a lengthy onward chain and you can move into your new home as soon as it is completed. If you need to sell a property first, some builders will offer schemes such as part exchange or offer assistance to help sell your property quicker and faster to make sure you don’t miss out on the property of your dreams.
There is also other support available that helps to make new homes more affordable. This includes the Government ‘Help to Buy’ scheme which can assist you in purchasing your dream home with a 5% deposit and a shard equity loan of up to 20%. This opens up potential access to a range of 75%% loan to value mortgages which generally offer lower monthly mortgage payments. This can mean that the house you thought you couldn’t afford is that little bit easier to reach. As everybody’s circumstances are individual we strongly recommend you to seek financial advice from a suitably qualified financial advisor regarding the various options.
New build homes are generally more energy efficient than the majority of second hand homes as they are built to meet the most recent environmental standards. This means they use less water, energy and are better insulated. Research from the NHBC Foundation and Zero Carbon Hub fund that that living in a new build homes could result in savings of around 55% on gas and electricity compared to an older property. This means a lower carbon footprint which can only be good news for you, the planet and your wallet.
New build homes are built to a much higher specification than most older properties so you get more for your money. Brand new fitted kitchens with appliances, double glazing and high standards of roof, floor and wall insulation all come as standard and meet the current regulations.
All new build properties have to meet the current regulations and build quality has continued to improve with a recent industry survey suggesting that 90% of new home buyers declare themselves satisfied with their new home.
Most house builders will also offer extra assurances by offering to return to the property within the first 1-2 years to undertake any remedial works that might be needed. Plus your new home will come with a 10 year New Home Warranty for additional peace of mind.
With all the above in mind, a new home could truly be the best investment you ever make so why not start your search now!
*source - Home Builders Federation (HBF)