It’s one of the most important questions for a house-hunter - do you choose a new-build property or an older home? Both types have their merits, and disadvantages, depending on the type of property you have your heart set on.
Buying a home is a huge financial and emotional commitment and you want to ensure that you and your family will enjoy living there, setting down roots and taking full advantage of what the house and the area will bring to your life.
We have helped countless families with this tricky decision over the years - here’s our guide to the differences between the two types and some ideas on reaching the right decision for you…
What’s the difference between a new build and an old build?
With the news headlines dominated by government housebuilding targets, the delivery of new build homes has been in the spotlight - but are they a better buy than older properties?
For many, the thrill of buying a property straight from a developer and being the first to set foot through the door can outweigh the benefits of finding an older, period property that has been a much-loved family home.
Modern building techniques mean new build homes can be incredibly energy efficient, with the latest levels of insulation and heating systems. They are also a blank canvas - the new owners can decorate with their own vision in mind, and can often choose their own fixtures and fittings such as flooring and bathroom tiles.
Newly-built properties are also likely to need much less maintenance than older ones and can lend peace of mind through the builder’s warranty. It’s important to note that a 10-year warranty covers structural defects only.
An older, period home, such as Georgian, Victorian and Edwardian properties, might provide more character and original features - and it’s also easy to identify any issues that need work once you’ve had the survey completed.
Those looking at older places can also see the potential for adding value, such as a loft conversion, open-plan kitchen and extension, which can be difficult with a new build. An older property might also be well-established in a local community, with many nearby amenities such as schools, health centres, shops, pubs and restaurants.
But renovation costs, the risk of higher energy bills through reduced efficiency and potentially being caught up in a chain of buyers and sellers relying on other property sales to complete, might put many off.
New build benefits
1. Energy efficient
One of the most significant benefits of a new build is its energy efficiency - properties typically come with increased insulation, double-glazed windows, and energy-efficient heating systems. Renewable energy generation features such as photovoltaic solar panels can boost a property’s Energy Performance Certificate (EPC) rating. You can enjoy a greener way of living that reduces your carbon footprint and energy bills.
2. No chain
As the first buyer of a new build property, you’ll benefit from a chain-free process without a line of buyers above you - perfect for first-time purchasers or those moving from rented properties. You’re not risking other buyers pulling out, or mortgages falling through, making a much less stressful time as you can also be flexible about your moving date and concentrate on planning for the exciting times ahead.
3. More personalisation
Depending on the housebuilder and the stage of the build, buyers might be able to choose their own elements to make a stamp on their new home. At Grace Homes, for example, we have helped buyers to choose their kitchen range, handles and worktops. Visiting a developer’s show home can provide the inspiration of what it will be like to live there - and how to create a space of your own.
4. A developer’s warranty
Most new builds have a 10-year developer’s warranty that acts like an insurance policy to cover potential structural defects in your new build, giving buyers peace of mind that the developer will act to rectify those specific issues. At Grace Homes, we carry out rigorous checks throughout the build process - and also subscribe to the Consumer Code for Home Builders.
5. New builds are ‘new’
Imagine that feeling of settling into a brand new and modern home, beautifully decorated with top-of-the-range fixtures and fittings and every room - from top to bottom - completely fresh for your new life. It’s one of our favourite parts of the process, when we hand over the keys to a property that has never been lived in before and see the excitement that the new owners have.
Old house benefits
1. Character
There’s no denying that an older property with charm and character can top a home-buyer’s wishlist. Many were constructed with high-quality materials that have stood the test of time and may have been upgraded and modernised over the years - or could present an opportunity to restore period features or renovate a kitchen. They may also have an established, mature garden that won’t need a lot of upkeep.
We understand this need for traditional properties with character and are proud of our thoughtful renovation of the Grade II-listed 18th century Sysonby Lodge in Melton Mowbray into two and three-storey homes.
While our luxury homes in Hanwood Park, Barton Seagrave, Northamptonshire, are new builds, they also feature a perfect blend of tradition, quality and innovation, with enhanced sustainability.
2. Size
A solidly constructed period property often has larger rooms with higher ceilings, lending a spacious feel. You can also increase the space and add value to an older house by creating a conservatory or kitchen extension. These properties often have a larger outdoor space that has flourished over the years, with mature trees and plants - great for relaxing in or inspiring those who love gardening.
3. More variety
Choosing an older home might mean you have less energy efficiency and up-to-date technology, but it could be a winner in terms of the variety of properties available in the marketplace. Consider the property’s architecture, craftsmanship and original features like fireplaces and wooden flooring and weigh up the options for renovation or maintenance work - or simply enjoy moving into a home that has been lovingly cared for over the years.
Weigh up your options
In conclusion, there are many benefits to owning new build properties – and just as many for older properties. The key is to consider carefully what you want from your future home and weigh up the pros and cons, whether that’s a completely fresh base for you and your family with highly desirable sustainable qualities in a new neighbourhood – or if you’re happy with a property that might need some work but has a much-loved feel to it in an established community. You can be equally happy in either – happy househunting!
If you do decide to go down the new build route, take a look at the beautiful properties that Grace Homes has to offer. Call us on: 01536 740019