New Build Vs Older Property: Pros & Cons
The number of new build homes being built in the UK is increasing rapidly as the demand for property is sky high. Philip Hammond, Chancellor of the Exchequer claimed that 300,000 new build homes need to be delivered per year to make any inroads on the affordability of property in the UK.
With developments sprouting up throughout towns and villages many people have been tempted by the show homes on site. However, whilst the blank canvas of a modern new build can be attractive, are they better than the charm and reliability of older properties?
Why should I buy an older property?
Older houses have that lived-in feel. They are reliable, sturdy and have stood the test of time. Period houses are particularly sought-after and many property buyers set their sites on Victorian or Georgian houses due to their high ceilings, large rooms and spacious gardens. With more space to play with back in the day, architects were happy to give people much more space for their money compared to today! Other advantages of older properties include:
- Older properties tend to have off street parking or long drive ways
- Thicker walls made with traditional bricks
- Bigger and more spacious rooms
What are the downsides of purchasing an older home?
Older properties have undeniable charm, even if they aren’t period in character. Today, many properties are built with breeze blocks and plaster boar, and nothing beats the traditional bricks and mortar approach. However, there are some downsides to investing in an older property…
- Expensive maintenance costs due to outdated fixtures and fittings
- You may need to spend money on renovating or decorating
- General wear and tear from being lived in
- Old heating systems and the need for new insulation can make them cooler
What are the perks of buying a new build property?
With a new build property you have a completely blank canvas. Moving into a home that nobody else has lived in can be appealing to some who want to put their own stamp on things. Everything will be crisp, new and modern. There are other benefits too…
- There is no moving chain, so the process is hassle free
- Most new build properties come with a warranty, meaning the developer has to fix any issues
- You can complete a snagging list
- A snagging list allows you to point out faults or poor workmanship that the developer will then rectify in the home
- A completely blank canvas to personalise and decorate
Are there any disadvantages of buying a new build?
Buying a new build home is becoming increasingly popular. They are particularly appealing to first time buyers who can utilise the government’s Help to Buy scheme. Despite the perks of new build properties, they do have some cons…
- Delays are common, as waiting for a new home to be built is the norm and this can affect the completion date
- Walls can be thin and noisy neighbours cannot be blocked out easily
- New builds are often more expensive compared to older build properties
- They typically offer smaller rooms and gardens than older homes
- New builds lack character and look very similar
Sell your home quickly
Do you have your eye on a new build property but are facing hurdles trying to sell your current home? If you don’t want to miss out on purchasing the new build home of your dreams get in touch with us today.
At WeBuyAnyHome, we can buy your home for cash in as little as 7 days. This means your property could be sold as soon as next week, leaving you free to purchase the new build you desire. Because we purchase properties with cash, there are no delays or hassle. We also don’t charge any fees.
If you are tired of waiting for your property to sell you can get a no-obligation cash offer from us today. Alternatively, if you’d like to find out more, browse our site or call us free on 080 231 6287.