Question 1

The benefits of buying a new-build home

Accepted Answer

There's no onward chain, you can move in as soon as your home's ready
Everything’s sparkling new, no renovation budget required
If you’re buying off-plan, you get to make the decisions on the style of kitchen units, tiles choices and flooring. Some builders will also allow you to upgrade your specification.
Financial schemes are available to buy new builds, including Help to Buy, Shared Ownership, Deposit Unlock and First Homes
New-build homes come with a 10 year warranty
And they're eco-friendly, using around 60% less energy than period homes
Most new homes are fitted with modern locks on all doors and windows, with alarms and entryphone systems installed in many properties as standard

Question 2

Are new-build homes better than older homes?

Accepted Answer

The main benefits for buying a new-build home versus an older home are:

New-builds come with 10-year structural warranties, which gives you protection and peace of mind
They achieve top eco credentials, using the latest A+ rated white goods to reduce energy consumption. And that means lower fuel bills for you
Double or triple glazing, low energy lighting and dual flushes to reduce water usage are installed in many properties as standard
If you’re buying off plan, you can choose your fixtures, fittings and flooring
Schemes are available exclusively for new-build homes, including Help to Buy, Shared Ownership and Deposit Unlock

New-build homes versus older homes

Question 3

Do new-build homes keep their value?

Accepted Answer

With any home, traditional or new, the rate at which it rises in value will depend on each individual property.

Things that might affect a propert’s value include:

Renovations being done to the home, including extensions
If the area the property is ‘on the up’
If new transport links are developed near to the property
If schools near to the home are rated Outstanding by Ofsted
If high demand develops for the area the property is in

Own a new-build home and keen to see how much it’s value has risen?

Head over to My Home, where you can discover your home’s value with an instant online estimate based on powerful market data.

Interested in buying a new-build home?

Over at our House Prices checker, you can simply pop in the postcode for the home you’re interested in and find out how much it’s estimated to be worth now.

We’ll also show you how much each property last sold for - and how much its value has risen over time.

Question 4

Is it hard to sell a new-build home?

Accepted Answer

If you own the freehold to your new-build home, selling it will be just as straightforward as selling a traditional home.

However, if you bought your home as leasehold property, or through a government scheme like Help to Buy or Shared Ownership, there will be a few extra steps involved in the selling process.

Find out more in our guides:

Question 5

Can you buy a new-build home with Help to Buy?

Accepted Answer

Yes, the Help to Buy scheme is exclusively available for new-build homes. It’s a government initiative designed to help first-time buyers step onto the property ladder with a deposit of just 5%.

The scheme comes to an end in 2023 so you’d better be quick.

Other schemes available for new-build homes include:

Shared Ownership, where you can buy a share of a new-build home if you’re a first-time buyer
Deposit Unlock, which enables you to buy a new-build home with a 95% mortgage if you’re a first-time buyer or second-stepper
And First Homes, a scheme that offers local first-time buyers and key workers a 30-50% discount on new-build homes.

Question 6

Are new-build homes more expensive?

Accepted Answer

New-build properties are typically more energy efficient and require less maintenance compared to an older property.

For that reason, and many others, some new-build properties may be advertised at a higher asking price compared to similar older properties.

A good way to check that you won’t be paying over the odds for a new-build property is to check recently sold prices of similar new-build properties in the same, or similar, area.

Question 7

Can you negotiate on new-build homes?

Accepted Answer

Just like buying an older property you can try and negotiate with the housebuilder by making an offer. The worst they can say is no.

If they are staying firm on the asking price, there may be other things you can negotiate on such as furnishings, or they could offer to pay your legal fees or stamp duty which could save you a considerable amount of money, but do note that most mortgage lenders will only accept incentives up to a maximum value of 5% of the home.