Why should I buy a newly-built home?

Although some of us dream about a lovely period home, it may turn into a nightmare when you realise that 'character' can actually cost you a packet! Many buyers invest thousands in repairs when they buy a second hand property with windows, boilers and the roof/insulation being the most costly offenders.

Buying a new build not only helps to avoid this sort of expense, but can offer a wealth of other benefits.

Interiors
You can decorate every single room exactly to suit your individual needs as you now have the say-so for every single part of the decor in your home. These choices extend to include carpets, curtains, bathrooms and even kitchen worktops, which are all generally to a higher specification. Most new homes also have built-in or fitted wardrobes in the principal bedrooms.


Environment, insulation and energy
Newly built homes are much better insulated than older properties and include double-glazing windows as standard. They are kinder on the environment as the efficient boilers, heaters and insulation mean you don't have to waste electricity and gas and this is verified through an energy rating certificate ensuring you are reducing your carbon footprint. Domestic water use can be kept to a minimum by using water efficient fittings. New homes are also increasingly built on brownfield sites, recycling previously developed land.


Security
New homes are far safer and more secure than older properties. Fire safety, in particular, is helped by the standard installation of smoke alarms, fire doors, and fire retardant materials, as well as the architectural design, which must adhere to rigorous fire safety standards. Most builders will include security locks, burglar alarms and security lighting as standard.

Great Deals
You can really negotiate some great extras when buying a new build - if you know what to look for. Financial incentives include getting your stamp duty paid or a certain amount of cash back after you move in. But you can also haggle for other bonuses like wood flooring, included curtains, carpets, special tiling and even landscaping for your garden. A lot of builders will also include white products, so always ask before you agree a price!

Easy purchase process and no chain
When you buy a new home you will usually be required to 'complete' on the purchase within two weeks of the property being finished. On reservation you will be given an estimated completion date. You are then at the end of the selling chain. On reservation, the price is fixed and your new home is taken off the market. Provided you exchange contracts within a given time period, you will not be ‘gazumped' and you avoid complicated chains.


Warranty
Most new homes come with an NHBC Buildmark warranty. This insurance backed policy covers purchasers against all defects due to the NHBC standards not being followed for the first two years. During the next eight years the warranty provides cover against major damage arising from structural defects or drainage defects.

Re-sale price
The valuation of your property will be directly linked to the price that the last property of your home type sells for on the development. This could mean your property might increase in value in line with prices for the last homes offered for sale and may exceed normal house price inflation. Your property will then be forever linked to the highest price achieved for the same house type. The earlier you buy on a development the greater the potential increase.


The author is a specialist in conveyancing solicitors, house removals and Home Information Packs.