A good few years ago now, I wrote a Nova article about new-build properties and the reason I remember it so well was because it prompted an individual to come in to the office to tell me that I hadn’t given them a fair review. He felt I was biased towards older properties and, at that time, he was probably right! Having always been brought up in semi-rural or character homes, I had never experienced owning or living in a new-build and although this is still the case, I now think I have much more experience and a better understanding of the benefits a brand new home has to offer.

With rising energy prices, a lot of buyers are leaning towards the newer, more efficient properties to save on their bills. Up to date insulation and new heating boilers both help a great deal and can save hundreds of pounds a year, when compared to older houses with single glazing, no cavity wall insulation and older methods of heating.

In addition, there are usually much lower maintenance costs. Things which can need repair or replacement in older properties are not an issue with new builds. Big costs such as a new roof, crumbling mortar or drainage issues and damp remedies are non-existent, and anything which may need attention is usually covered by the builder’s guarantee. This is especially beneficial if you are buying a new-build as an investment as everything you spend out will eat into your pre-tax profit.

However, this still isn’t an article which completely ignores the cons which newly constructed properties can throw up. There can be problems with purchasing from new too…over 7000 buyers in the U.K. who have bought a new build in the last 3 years revealed their regrets in a recent survey. Property management costs, parking and gardens top the list of things they wish they had thought about before buying their home. Often purchasing off plan can mean that people don’t pay enough attention to what surrounds the property, what the actual garden size is and the general layout of the development as a whole. That’s not to say that the developer has failed to provide information, just that the buyer hasn’t exercised due diligence in satisfying themselves that they are 100% happy prior to completion. There are usually additional costs for the maintenance of the estate so ensure you are aware of what these are and exactly what they cover.
One thing you can’t be sure of when buying off plan, is who your neighbours will be. This is the great unknown and although you are all in the same boat, sometimes you wouldn’t choose to be in that particular boat with the inhabitants from next door!! That said, even with established developments, occupants can change frequently, especially if the properties are tenanted.

For advice on which way to turn when thinking about buying – whether it be for your own habitation or for investment purposes, get in touch! Call Barker Healey on 01952 813625, message us on FB or email [email protected] or of course, pop in to 10 High Street, Newport.