There are various different responses to this, and many of them, as ever, are that the answer depends on who you are, what you want, and why.
It’s not a straightforward answer and a lot of the decision depends on personal preference.
Some people are diehard fans of brand spanking new homes where you can march in, not worry about doing a thing and get on with your life. Others wouldn’t want to be caught dead in a new home preferring period property with character.
Some see a period home as a black hole for cash, with the maintenance you have to lavish on it simply to keep it up to date and upright? Others see new homes as bland that are cookie-cutter boxes modelled on a computer plan provided by a developer.
Personally I believe both have their benefits and here are some points on each to help you make that decision.
New homes
* New homebuilders generally offer a range of benefits that the second-hand market cannot hope to match.
* New build homes are chain free, which may not be a deciding factor in your choice of a home but is a huge benefit for many. It means the purchase has far less chance of falling through and should go through quickly.
*New homes are vastly more energy-efficient and therefore much cheaper to run than second-hand homes
*New home prices are now more in line with the second-hand market, so there is not so much of a brand new’ premium any more
*New homes are packed with lots more extra features than most older properties.
*NHBC 10 year warranty peace of mind with new build homes.
Finding the right plot Land for sale is generally categorised as follows:
Brownfield – land that is or was occupied by a permanent structure that has become vacant or derelict and has redevelopment potential.
Greenfield – undeveloped land, such as parks, forest and countryside.
Then there is the planning consent and the building warrant, which in my opinion can take upto 12 months or sometime longer depending on your local authority.
Old homes
*If you want a bit of character, then an older house is tough to beat. And if you don’t mind doing a bit of DIY and making your own mark on a property, then you may consider the older home the better option.
*Older houses come with plenty of gorgeous details; stunning original fireplaces, sloping ceilings, wooden beams and crown moulding in the corners
*Older homes have stood for decades, some centuries, and weathered many storms. Some were built by hand by genuine craftsman, with meticulous attention to detail.
*Likely to be found in areas that have ready made and long established communities
*All the services: broadband, telephone, electric etc will all be easy to re-establish from the previous owner
*You tend to get more mature garden with an old home. New builds tend to be just recently laid turf.
*Generally, the purchase prices of older houses tend to be lower than that of new builds, although this isn’t always guaranteed. Because they have been standing for much longer you can often snap them up at a cheaper price. This will always depend on the condition of the house you are buying, exactly where it is located and the recent selling prices of any houses in the area, but you may find that a modern house with three bedrooms costs far more than an older home with the same features.
* Older homes tend to come with older plumbing and wiring systems and many need remodelling or redecorating depending on the previous owner. While this may not necessarily be a drawback at present (if it isn’t broke, don’t fix it), you might face added costs in the long run.
There is no denying that buying an older home comes with its drawbacks, but you’ll be surprised at the amount that also go hand-in-hand with purchasing a new build. Sometimes it’s a matter of practicality; do you need more space or do you consider yourself a minimalist? Or sometimes it all comes down to aesthetics; are you looking for a house filled with rich character or would you prefer a blank canvas to start from scratch? Buying a house is one of the biggest and most daunting tasks you will ever undertake, so think long and hard about what your priorities are so you can start shopping for your dream home.
That is why you need a good estate agent! Luckily for you, we are The Good Estate Agent
Contact The Good Estate Agent today for help in purchasing your next home on 0330 223 0670 or complete our form here