New Build Home Vs Older Property

Author: Ryan Dalli

Author: Ryan Dalli

Buying a home could be the biggest financial commitment you ever make, so it is important that you go into the arrangement with your eyes open. Perhaps you should purchase a new build or maybe an older property? What are the pros and cons involved? The following guide will give you some of the advantages and disadvantages which should be considered.

One of the benefits to purchasing a new build property is the fact that it will be built to the most up to date building regulation standards. These regulations will govern energy efficiency, sound insulation and mobility standards. A new build home could be as much as 50% more energy efficient than an older property, which is better for the environment and with the high cost of fuels to heat the home, this could save money in the long run. Most people are aware of global warming, by using less energy, you will be emitting less CO2. The water systems will be more efficient and the sites are often built on brownfield sites, which are land that has been recycled. However, if you purchase an older property, you can still upgrade the central heating system, install loft and cavity wall insulation, vastly improving the energy efficiency of the building. The costs involved would be high, however, this could be offset against the saving that you could make when purchasing the older property against the new one. Typically new builds tend to cost between 6,000-8,000 more than their counterparts.

If you are a wheel chair user, a new build property should give easier access, as mobility is a consideration taken into account when designing a new property. It can be costly or at times impractical to try to re-design an older house and to make it more suitable for elderly or disabled persons. However, new build homes tend to have smaller rooms when compared to older housing. A new build may be built on a reduced footprint due to the increased costs involved with purchasing land, which can leave rooms with the bare minimum amount of space that would be acceptable to a purchaser.

A further benefit to purchasing a newer property, is the fact that there should be less maintenance involved. If you purchase an older property, there is every chance that the windows, fascias and soffits may need updating. Making these changes can be costly and certainly amounting to thousands of pounds worth of changes to be made. However, an older property can be renovated and the costs of carrying out these renovations should be compared to the costs saved by possibly purchasing an older style property. The security measures of a new build will generally include British standard lever locks to main doors and a burglar alarm. If no alarm has been installed then the builders may pre-wire the property so that an alarm can be fitted at a later date. Again these amendments can be made to the older property. However, you have to shop around and make a decision as to which company to use. Are you prepared to go through the general inconvenience of having workmen in your property and having to employ plasterers to make the window reveals look presentable. Many property developers offer a warranty on their new homes. Builders can register with companies such as NHBC who offer a 10-12 year housing warranty. The warranty will cover against major damage arising from structural or drainage defects which should offer a certain level of peace of mind. An old house will not come with a warranty, however, you should employ the services of a surveyor and ask for a thorough survey to be carried out on the older home that you may be purchasing. This way you will get expert advice as to what work needs to be carried out on the property, which can be used to negotiate a better price on the property you are buying. Some people prefer the character which an older building has. A property that has been around for a hundred years or more may have a charm that is hard to replicate in a new build. However, there can be a real variety in the choice of style in new builds, which can be designed architecturally to replicate the style of an older home. To some there is a real sense of enjoyment and achievement in taking an older home and renovating the building and bringing back to its former glory, transforming it into a family home. To others the thought of removing wallpaper, old plaster and bathroom suites may be undesirable. It may be far less problematic to move in to a property that is already renovated. There are many pros and cons to choosing a new build versus an older property. However, as long as you are aware of the respective advantages and disadvantages involved with both, you should be able to make an informed decision as to which is the best option for you.

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Visit Standen Homes for new build properties in the UK.

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