Expert Guest Blog
New build homes have become increasingly popular in recent years. This is largely because they cost less to repair, are more sustainable and energy efficient, and have layouts built for modern living.And with energy prices expected to rise by another 20% from April as government support for households scales back, the appeal of energy-efficient new build homes has never been greater. With that said, Rest Less and Hamptons explore some of the main benefits of moving into a new build property. Hamptons works with some of the country’s leading developers to build high-quality homes across London and the south of England. Whether you’re thinking of investing, planning to downsize, or are on the lookout for your forever home, we can provide support every step of the way. So, if you’re thinking about your next move, here are six benefits of buying a new build property.
1. New build homes are more environmentally friendly and may save you money on energy bills
Due to modern building techniques and materials, and the appliances installed, new build properties tend to be more energy efficient than older homes. And research has revealed that energy efficiency – whether for environmental or financial reasons – is a key consideration for one in every four people purchasing a home.
2. New build properties generally have lower repair and refurbishment costs
3. New build homes are built for today’s living
4. Many new build developments are set in vibrant communities
Another benefit of moving into a new build property is that some developments have plenty of on-site amenities. These can include communal gyms, cinema rooms, restaurants and cafes, and places to work or study. For example, Brighton and Hove’s Sapphire Hove development is set just 500m from the beach and offers a range of impressive on-site facilities.
Residents can access coworking spaces and enjoy landscaped gardens, underground parking, 24-hour security, and a concierge service. There’s also a beautiful synagogue, Jewish Montessori nursery, and kosher dining options available. New build developments like these tend to create the ideal environment for close-knit communities to form. This is because people can enjoy much of their day-to-day lives close to home, allowing them to get to know their neighbours better. Plus, for those who’re downsizing into a new build property, having on-site entertainment and dining facilities can provide more space to host family and friends.
5. New build properties tend to be fitted with maximum security
Another main draw of new builds is that they tend to have higher levels of security than many older properties. For example, most new homes come with outdoor lighting and are fitted with burglar alarms, window locks, and British Standard Five lever locks on main doors. As previously mentioned, some new build developments also offer 24-hour security and concierge services. Aside from feeling safer, tighter security means that contents insurance premiums will often be reduced too.
6. New build homes are more straightforward to purchase
There are several reasons why new build homes are often more straightforward to buy than older properties. For one, buying a new build home means there’s no onward chain (where the seller of the property has to raise enough money from their house sale in order to move) – which typically makes the process a lot quicker and less stressful. Having no onward chain also gives people more opportunity to negotiate moving-in dates, without the pressure of having to tie in with the people who’re selling. And, once you’ve put in an offer on a new build, you don’t have to worry about being gazumped, or a seller pulling out of the deal. However, while buying a new build home is typically a smooth process, it’s still worth remembering that, if yours is still being built, there can sometimes be delays linked to that work – such as the supply of materials or availability of workers.
From extra security measures to being more energy efficient and environmentally friendly, there are a number of benefits of moving into a new build property – and it’s not difficult to see why they’re becoming a more attractive prospect to home buyers. Yet, as with any large purchase, it’s also important to be aware of potential drawbacks and to do your research. For example, like buying a new car, new builds can be expensive – and may see a drop in value once you move in and create an onward chain. For this reason, new builds can be most beneficial for buyers who plan to live in them long-term. You should also be clear on whether you’re buying a leasehold or freehold property. If you buy a freehold property, you’ll own the house and the land it stands on for an unlimited period. Whereas, if you buy a leasehold property, you’ll own the property but not the land it’s built on, and only for a set period. The government currently has plans to scrap most leaseholds in England and Wales. While there’s lots to consider when buying a new property, having an experienced estate agent on your side can give you an advantage.