The benefits of buying a new build
Although new build homes and new build developments have seen a decline over the last couple of years, they're still a popular choice for those wanting a modern and fresh property to move into. Built with purpose, there's a wide variety of sizes, styles and price points to choose from. Here is why buying a new build could be the right move for you:
No upward chain
A significant advantage of buying a new build is the lack of a long chain, which can otherwise seriously hold up the progress of your move. Moving into a new build property with no sellers to move out can help you to move quicker, free from the stresses of other people's buying and selling journeys. If you already have a house to sell, this may also make your property more attractive to buyers.
Financial incentives from developers
Buying a new build property directly from the developer often gives you a lot more room to negotiate. Developers are keen to make a sale and are therefore more open to throwing in incentives. This could be anything from upgrading your kitchen to paying for some or all of your stamp duty.
Scheme assistance for first-time buyers
Another advantage for buying a new build home is the potential to save money through government-backed schemes supporting first-time buyers with new build properties. For example, the First Homes scheme, which replaced the Help to Buy, can offer a 30% to 50% discount off a new build home's market value, making new builds a much more affordable option for your first home.
Explore more options to help fund your first home purchase in our comprehensive guide first-time buyer schemes.
Blank canvas with a modern style and layout
A great benefit to new build properties are that they're designed to reflect the taste of today, which can be attractive to buyers who want a stylish place they can instantly move into and live in comfortably. For example, new build homes often:
Are ready-to-go without the need for essential repairs or additional building work on the property
Have rooms that are maximised in terms of design, features, and space, such as large open plan spaces with plenty of windows for natural light
Include fresh, clean, and modern fixtures and fittings that are eco-friendly, energy-efficient, or feature smart home technology
Come with a 10-year NHBC warranty, protecting you from any major unexpected structural damages, builder insolvencies, and weatherproofing failures
If you're buying a new build property off-plan, you may be able to have a say in the layout and features of your home before it's built, allowing you to put your stamp on the place even before you move in.
Find out more about buying a new build off-plan in our step-by-step guide, including the pros and cons of buying off-plan and how off-plan mortgaging work.
Highly energy-efficient
On average, new build homes save around £420 a year on energy bills compared to older homes. This is because new build homes are designed to meet government building regulations for things like energy-efficiency, with most new builds having an EPC rating of A or B, helping you save money by lowering your bills, whilst also minimising your environmental impact.
Find out more about every rating and Energy Performance Certificate's when buying a house.
New build warranty
Many new build homes come with guarantees from the developer. This can cover anything from faulty pipes to structural issues with the roof, giving you peace of mind for the future.
Find more information about new build warranties and aftercare in our top tips when buying a new build guide.
Potential value increases
Depending on market movement, your new build property could already be worth more than what you paid by the time you move in, especially for those with energy-efficient fixtures installed, such as solar panels or EV charging points, which can increase the property's value by 6%.
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