When you take your first step towards moving house or purchasing your first property, it is important that you have a list of things you’re looking for in your ideal home. One of the most pertinent decisions is whether to look for new build properties or resale properties, with each of these unit types having their benefits and challenges. To help you make the most informed decision about your next property purchase, we’ve compiled a simple list of ‘pros’ and ‘cons’ to buying new build vs resale homes, so that you can feel at home in a property that’s best for you.
New build properties come equipped with all of the latest technology to ensure that they are as energy efficient as possible. They are far more likely to come with heat pumps for optimal heating efficiency, double glazing as standard to keep draughts at bay, and modern insulation to ensure that the heat stays within your four walls for longer. The Home Builders Federation indicates that new build property owners can save up to £2,600 per year on their energy bills when compared to their more outdated resale property counterparts. As such, by investing in a new build property, you increase your chances of saving money in the long run.
With resale properties, many previous owners will want to take their furnishings with them into their next home, whereas many new homes will come fully equipped with everything you need to move in, making them an ideal first home. These are often modern, monochromatic furniture packages that you can purchase with a new build property, thereby removing the fuss and additional expense of having to measure each room, purchase furnishings, and subsequently transport and construct them. If you purchase your new home off-plan, you may even be able to amend some aspects of the property to your specification, making it a truly personalised space that can help you establish your house as a home. With freshly painted walls and new flooring throughout, it also means you can move any furniture you do have straight in without worrying about spending time decorating or replacing damaged carpets.
As beautiful as older, characterful resale properties can be, new build properties are undeniably simpler to maintain. Having been fitted with the latest white goods, the likelihood of running into maintenance issues is drastically reduced as new homes have not experienced the wear and tear that accumulates over years of occupation. Better yet, most of your white goods will have a warranty as they will have been recently fitted, meaning that you are more than likely covered for any maintenance issues. There will also be a build warranty with your new build, which means that any more serious structural issues will be covered for a period of time after you move in as well as an initial ‘snagging’ period where the developer will make minor repairs for free.
New homes have all the characteristics of a 21st Century property – clean lines, monochromatic, and open spaces. However, for those looking for a home that has character and quirkiness, a new home may be a little too generic. Resale properties can offer far more character than their newer counterparts, with some coming with original features that have been the centre point of the home for decades. From ornate Victorian fireplaces, to beautifully preserved wooden beams, and quintessential Edwardian exposed red brick, resale properties can come with a fascinating history. So, if you’re looking for a home that breaks the mould, keep a close eye on resale properties.
As new homes come with all of the most up to date technology, furnishings and features, they can cost quite a steep price. It can therefore be more cost effective to purchase a marginally more outdated resale property for cheaper, and spend the time, effort and funds bringing it up to date. Better yet, you’ll be able to renovate a cheaper resale property to your specification rather than paying a premium for a bunch of new homes features you may not be interested in.
As resale properties are already situated in established neighbourhoods, there is no need to wait for the surrounding area to grow and develop. Some new home sites on the edge of towns and cities, or in less populated areas, may not have the best access to facilities such as nearby shops, bus routes and schools when compared to more established communities. What’s more, resale properties are already built and ready to move into, chain-permitting, whereas many new build homes may be off-plan, meaning that they are awaiting construction.
Whether you think you’re suited to an ultra-modern property that you can customise to your specification, or a characterful property that offers something unique and special, Centrick is here to make your property goals a reality. Beyond listing some of the most sought after new homes developments in Birmingham, Nottingham and Solihull, Centrick has a variety of resale listings to suit every type of buyer – whether you’re downsizing, looking for more space, or purchasing your first home, we have something for you.
Or perhaps you’re simply reviewing your options and weighing up the merits of new build vs resale properties? If so, explore the At Home With Centrick hub, the ultimate destination for property advice. If you’re looking to save money on your energy bills, evaluate the best neighbourhoods to move into, or want to prevent damp and mould in your home: we have the answers. For more information, simply fill out the form below to ask the At Home team about your latest property queries, and we’ll endeavour to get back to you as soon as possible:
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