Pros and Cons of Buying New Builds

Pros and Cons of Buying New Builds

 

Newly built properties can offer people some unique benefits that aren't offered from other types of housing. Although, they also have some negatives that come with it too. 

New Builds can be incredibly alluring for new investors or homeowners due to the "newness" feeling that one can get from them. There's just something about knowing the fact that no one else has ever owned a home before you that is endearing. 

In this article, we will be listing some of the points for and against buying newly built properties in the hopes of allowing you to make a more informed decision if you are interested in buying a new build. 

Maintenance and Repair Free

One major plus for Newly built properties is the fact that you won't have to deal with pesky repair tasks for a long time. 

This is both down to the fact that newly built homes will have the best and most up-to-date appliances, which drastically reduces the chance that they will need any kind of maintenance. In addition, most new builds offer upwards of ten years of warranty for their new homes, so in the rare chance that something does go wrong, you won't have to worry. 

Enjoy Savings from New Infrastructure

Newly built properties surprisingly can save you a ton of savings due to numerous factors. 

For one, you'll more than likely save a ton on energy and gas bills. This is due to the fact that new builds often have more efficient appliances because they are built to the most current specifications and building standards. In the long run, this can save you a fortune. 

In addition, there are usually financial incentives offered by the government to people who are looking to purchase new builds. This can be done through a variety of methods such as the help to buy system or even receiving a straight-up cash bonus in order to get involved. 

property for sale

You May Struggle to Get a Finance Plan 

One drawback for new builds is the issue of a mortgage; they can require a larger deposit than usual and often demand said mortgage to be handed to them in a short period of time. 

Both of the points mentioned above can be a big hurdle for would-be investors or homeowners, as it requires much more capital to get started. 

Compared to buying an already built home, this can be a big put off for people. 

Imagination Can Often Differ Greatly from Reality

Perhaps the most significant negative for new builds is the fact that some homes may look different to how you imagined. This is just something that comes hand-in-hand with buying a property that has not been finished, and it's something you are going to need to take into consideration. 

Furthermore, there may be issues or setbacks during the construction process, which could potentially lead to the end product being drastically different to the original plan. 

Of course, the solution to this problem would be to only buy new builds that are already entirely constructed or at the end of the process. However, this might not always be possible. 

In order to get in quick, you will more than likely have to grab a property that is still in construction to ensure that you will be able to get the home. If you leave things too late and wait until construction is finished, it may be too late. 

Conclusion 

New builds offer a plethora of unique benefits and challenges that you will need to be aware of before purchasing a newly built property. 

If you go into an investment blind, you would be setting yourself up for failure, and you'd be more likely to make mistakes that could have easily been avoided. 

For more information, feel free to browse our website or get in contact with us if you have any queries. We have newly built properties available to purchase all over the UK, and we have quick access to any new developments, giving you better odds of being able to get hold of one. In addition, our team will be with you every step of the way, helping you at every possible opportunity. 

Good luck.



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