The pros and cons of new build homes

Among the many decisions you have to make when buying a home, you need to consider whether to buy a new build home or an existing property. 

More and more new build homes are being built every year. Data published by Office for National Statistics shows that 204,530 new dwellings were completed in 2022 in the UK. This means that buyers are coming across brand new properties while house hunting.

So, what are the pros and cons of buying a new build home? 

Pros

There are a number of advantages that you can expect when you buy a home straight from the developer.

• Greater durability: Owners of new builds can experience problems with the construction but, in general, quality new build homes from good developers can be even more durable than existing homes. By using latest building methods and high-quality materials like modern plasterboard, developers are able to build homes that require far less maintenance than their older counterparts.

• Modern living: New build homes are designed today, with the needs of modern families in mind. Because of this, they typically come integrated with the latest technology and open-plan layouts. New build developments also often feature amenities such as gyms, green spaces, and concierges.

• More energy efficient: One of the biggest draws of a new build home is they tend to be more energy efficient. While there aren’t any legal requirements that guarantee this, it’s easy to understand why a home built in the 21^st century should be more eco-friendly than one built in the Edwardian era. In fact, according to the Home Builders Federation, new build homeowners save an average £2600 a year on energy bills.

Cons

However, there are also some potential downsides of buying a new build that prospective homeowners should be aware of. 

• Possible disruption: If you move into a new build home on a development that’s still under construction, there’s a significant chance that you’ll experience disruption. You can expect noise, vibrations, road closures, and excessive amount of dirt and dust in your new local area. 

• Delays: Construction projects don’t always run to plan. If you’ve built a new build home before construction has been completed, you may experience delays to your move in date. This could cause you significant stress and even damage your finances, as you fork out to find alternative accommodation and storage for your belongings in the interim.

• Extra charges: Many new build developments are managed by private companies rather than the local council. These companies typically charge homeowners for the maintenance of shared spaces on the developments. They reserve the right to increase charges arbitrarily and, as a resident of the development, you won’t have the right to challenge these charges or switch management companies.

New build homes can offer significant advantages to homeowners being low maintenance, catering to modern lifestyles, and keeping energy bills down – but there are potential downsides to be aware of too. Consider carefully whether you’d most benefit from a new build or an existing property before coming to any decisions.