On the hunt for a new home? This is an exciting time whether you’re upsizing, downsizing or buying your very first home. However, it can also be a stressful time too because you’re investing a lot of money into a property and rising interest rates mean your repayments may be high and so, you’ll want to make sure you find the ideal house for you.
When choosing a new house, you’ll have two choices: an older builder filled with character or a new build home with all the amenities you need for comfortable and modern living. If you’re not sure which one is best for you, then don’t fret. We’ve put together a handy benefits and disadvantages list to help you decide. Read on to find out whether a new or old build is the ideal house for you to call home.
New build homes
- Chain-free, so delays with moving in should be kept to a minimum
- More eco-friendly
- Come with warranty
- Built in family-friendly locations
- Modern design with practical features such as hidden storage
- The home has never been lived in before, so there shouldn’t be any surprises when you move in
- You may be living in a building site until all homes are completed
- Completion dates may be delayed
- May be a lack of parking once everyone moves in
Old build homes
- Easier to research the condition the home is in
- You can make major changes to add value
- Utilities are all connected already
- Filled with character
- Can be expensive to fix any issues due to outdated fixtures and fittings
- Lots of money may need to be spent straight away to renovate or decorate the home
- General wear and tear may be apparent due to the home being lived in
- Older heating systems make the homes less energy efficient, which could mean your energy bills are higher
With more and more new builds being made every day as the government looks to meet their target of building 300,000 new homes every year, the population of newer homes will only increase in years to come. These are ideal for someone wanting a freshly made house that’s never been lived in before and features some of the best energy efficiency that modern homes can have.
That doesn’t mean you can rule out an older build, though. These can feature more unique designs and have a more homely feel in some instances.
Ultimately, however, the decision comes down to you and your personal preferences. Review our benefits and disadvantages listed above and find out what’s most important to you before jumping into home ownership.