2 Sept 2024
2 Sept 2024
When contemplating purchasing a home, the choice ultimately hinges on your preferences for a house.
While both older properties and new build houses have their advantages and disadvantages, new build properties offer several benefits that might make them a more appealing investment for many buyers.
Purchasing a new-build property offers the advantage of being 'chain free'. Being the initial owner eliminates the need to wait for a seller to secure another home before you can move in. This eliminates a significant source of stress during the home-buying journey and in theory, makes the process quicker.
Newly constructed homes can be up to four times more energy-efficient compared to older homes. This is due to the need to comply with updated building regulations. This focus on efficiency can significantly reduce heating and electricity expenses, especially in the current economic environment.
Moreover, they can be more energy-efficient due to the utilisation of modern energy-saving building materials and smart technology.
If you seek a property where you can incorporate your unique design style, a New Build could be the ideal choice. With many New Build homes, you can select your fixtures and fittings, and even have a say in customising the layout, like adding additional storage in the kitchen or bathroom. Moreover, you may be able to personalise your design by selecting elements such as flooring, work surfaces, and cabinetry. This guarantees that your home is tailored to your precise preferences and style. Additionally, many developers provide a variety of furniture packages to help you kickstart furnishing your new home.
A new build home comes with a comprehensive warranty as property developers must be registered and adhere to an industry code of conduct.
All New Build properties come with a 10-year Warranty such as an NHBC (National House Building Council) warranty, offering protection against structural defects, heating system malfunctions, plumbing issues, electrical problems, and roofing concerns. It's essential to remember that the warranty has certain limitations and does not cover all aspects.
In 2022, the New Homes Quality Board implemented a fresh framework that regulates the offerings of building developers. Additionally, a recently established New Homes Ombudsman service is crafting a quality code that spans the industry. These initiatives offer buyers increased protection and avenues for compensation if they are dissatisfied with the building quality or sales process.
Newly built properties often come with developer incentives such as deposit unlock schemes, deposit top-up schemes, and contributions towards your mortgage. These programs involve developers offering financial support for your deposit or monthly mortgage payments. Furthermore, developers might pay for your stamp duty or provide extra benefits like complimentary carpets.
Numerous new build properties are available for purchase through part exchange, with each developer having their own set of criteria. This offers the opportunity to utilise a portion or all of the equity in your current home to acquire a new build property from the developer. In return, the developer will buy your property, using the funds towards a home in their development.
Current building standards ensure that new homes are safer for their occupants. New builds must incorporate fire-resistant materials, have smoke alarms installed throughout the property, and feature windows designed to open easily for safe evacuation during fires. Moreover, electrical wiring in these homes is safeguarded by circuit breakers.
At Hegarty, we offer expert and clear legal advice, working with you to ensure a successful move. Our friendly team will support you through every step of the process, keeping you fully informed throughout. We take care of all the red tape, so you can focus on packing.
