Posted: 18 March 2013 by Higgins Homes
The housing market is not an easy place to be at the moment and above and beyond the difficulties many people are having getting a mortgage or raising a deposit, there are all sorts of pitfalls out there awaiting the unwary buyer, from subsidence, to crumbling walls and bad plumbing.
This kind of uncertainty is one of the reasons why many people choose to opt for a new build house over a more dated building. The new build is constructed to modern specifications, should be in tip top condition, as it's brand new, and most will come with a substantial warranty, which can take much of the worry out of such a big investment for first time buyers. The new build property also offers a chain-less purchase with no issues such as waiting for the existing owners to move out, or the likelihood of a purchase falling through because someone else's has which can make moving a much less stressful experience.
New build homes are usually energy efficient, which makes them far cheaper to run once you move in and means that they have a far less negative impact on the environment. They are also an opportunity for a buyer to really stamp their personality on the interiors without having to do lots of expensive renovations, as with a new build â€“ depending on what stage in the process it is purchased - all the individual elements, from counter tops to doors, can be selected by the buyer.
On a practical level, the use of fire retardant materials, and the installation of smoke alarms and fire doors also mean that many new builds are much safer than older buildings. Finally, there are some fantastic incentives to purchase a new build house, which make them accessible where other types of housing just aren't unless you have access to a substantial deposit. For example the NewBuy scheme, which offers buyers with a deposit of just 5% the opportunity to buy a new build property with a value of up to £500,000 thanks to a 95% loan to value mortgage.