Modern, easy-to-manage homes can be a smart investment. Sam Funnell from Fine & Country Rugby discusses the benefits of new-builds.
New-build homes can be a great option, whether you’re a first time buyer, a growing family seeking more space, or downsizing for your later years. Part of the attraction is in their very nature – owning something shiny and new holds great appeal. But what are the real advantages?
If you are purchasing in the early stages of development, or designing from the ground up, there are opportunities to design a home or customise a property to ensure it is the perfect fit for your needs. You don’t have to work within the confines of an existing structure and you’ll have fewer design restrictions when starting with a blank canvas. The property can be customised before completion so it has your personal touches and it can even be painted in your preferred colour palette.
Additionally, existing houses were not designed for contemporary living. Changes in technology and lifestyles impact property design. A new build is built for now, such as the way heating systems are incorporated. With modern technology, heating is more efficient, which allows for more spacious rooms and open-plan living. New homes come with the design elements that current lifestyles demand: dine-in kitchens, walk-in closets, and en-suites, to name just a few.
Efficiency is also key. With new-build properties it has become easier to design with efficiency and the environment in mind. Building codes have mandated increasingly higher energy efficiency standards since they began to address the issue in the late 1970s and it is more economical to incorporate new technologies, materials and construction methods in new-builds than to retrofit existing buildings. Newly-constructed homes are more likely to include green systems and appliances that older homes may not — like high-efficiency refrigerators, stoves and washing machines, water heaters, furnaces, and air-conditioning units. This saves you money on energy bills in the long run. While period properties can be updated to fit these standards, it would take more time and money to covert than moving into a new build.
Additionally, with new-build purchases, not only has the work been done for you, but you also shouldn’t have any maintenance concerns or financial investments to make, at least for the first few years. New-build homes come with a 10-year NHBC warranty covering structural defects and most developers also provide their own two-year warranty. Today’s homes also tend to be engineered to minimise maintenance requirements.
Given the national property shortage, the government is incentivising buying new-build homes, too. You only need a deposit of 5% using the Help to Buy equity loan scheme, and if you’re a first-time buyer, the Starter Homes Initiative offers discounts on new homes. New builds can also be easier to buy in a legal sense, as there’s no upward chain to contend with.
For advice on selling or buying property, please contact Fine & Country Rugby on 01788 820062 or visit www.fineandcountry.com