Reasons to Buy New Build Homes
New build homes are proving great investment options.
In 2019, the number of new build homes in the U.K. hit the highest levels seen in almost 30 years. More than 170,000 homes were added to the housing market in 2018-2019. However, it’s natural that this will fall in relation to the recent COVID-19 pandemic.
There are pros and cons for buying new build homes. But many homeowners believe the pros far outweigh any cons. Let’s explore to pros…
- A blank canvas – A new build house is literally a blank canvas. The walls will typically be white with either wood effect flooring or carpet. Meaning, you can make your home completely how you like it. Pink walls with green lights? No problem, go crazy.
- Fittings – Your new build home will already be fitted with a high spec kitchen and bathroom. As soon as you move in it will feel like home. No dust, no drama (unless you want to change anything!)
- Easier to buy – If you’re a first-time buyer, a new build is perfect for you. Schemes such as Help-to-Buy and Shared Ownership are only available on new build homes.
- Off-plan – When buying off-plan, you may be able to save money. Many developers offer savings when purchasing this early on. Other off-plan perks include incentives such as freebies or having a say on the layout of your new home.
- Energy-efficient – New builds are typically far more energy-efficient than older properties. It’s reported that homeowners of new properties save up to £700 a year in comparison.
- No chain – Homeowners of new properties are the first to live there. Meaning no chain or waiting for others to sell or buy new homes. This is usually huge stress for buyers which is completely taken away when buying new.
- Warranties – Most new properties come with a warranty on fittings and appliances, which older homes do not.
If you find yourself asking ‘is buying a new build a good investment?’ The simple answer is yes. One of the main advantages of buying in a new development is the long-term investment benefits that come with it. Stone Real Estate reported that UK new build prices rose by 27% compared to 22% for existing stock, between 2014 and 2019.
And there we have it, the main advantages of buying new. So, what about the cons?
Typically, they include size, snagging and potential delays in development. All of which are unavoidable when buying properties.
We are a range of properties in various locations that are available to buy. From one-bedroom apartments to four-bedroom detached homes. See below for details.
Ghyll House Farm
Ghyll House Farm is located in Horsham, West Sussex. Which was aptly names the fourth best place to live in the UK in 2020 (Halifax 2020). Surrounded by stunning countryside, these magnificent timber framed homes are the ideal getaway from the big city. Explore more here.
The Derby development is on-going and seeing some fantastic progress. Phase One has sold out but there are still a few properties remaining in Phase Two. Offering both two and three-bedroom homes. Explore Nightingale Quarter here.
Finally, Crocketts Lane is located in Smethwick, just 4 miles from Birmingham. The final few one-bedroom properties are ideal for investors looking to make over a 6% rental yield. With tenants waiting it’s a no brainer. Explore Crocketts Lane here.