The choice between an older home new-build home often comes down to personal preference. But each one has its benefits, as Phil Spencer sets out here.
Some regard a period home as a black hole for cash given the maintenance costs to simply to keep it up-to-date or even just upright. Others see new homes as bland cookie-cutter boxes modelled on a computer plan provided by a developer.
Personally I believe both have their benefits. So, here are 5 points on each to help you make that all-important decision.
An older re-sale home
1. If you don’t like it you can knock down a few walls, paint and install your own your vision and potentially add value.
2. Likely to be found in areas that have ready made, long-established communities.
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3. All the services: broadband, telephone, electric etc will all be easy to re-establish from the previous owner.
4. No endless snagging list.
5. Tend to come with more mature gardens. New builds are often recently-laid turf.
A new-build home
1. New homebuilders generally offer a range of benefits that the second-hand market cannot hope to match.
Read Zoopla's guide to buying a new-build home
2. New homes are vastly more energy-efficient and therefore much cheaper to run than second-hand homes.
3. New home prices are now more in line with the second-hand market, so there is not so much of a ‘brand new’ premium any more.
4. New homes are packed with lots more extra features than most older properties.
5. NHBC 10-year warranty provides peace of mind with a new build home.
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Opting for new? Know your rights with this buyer's guide to the Consumer Code for Home Builders.
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