Are new-build homes worth the money?
The fact is that new-build homes will always be more expensive than their existing counterparts. You could have a three-bedroom home that was built 10 years ago, and a brand new three-bedroom home recently built in the same area. The new one will always be more expensive as it is newer and more modern – that’s a fact.
Sure, you can get older houses that are more expensive, but they will typically be in better areas than the newer builds. This begs the question, should you bother looking at new-build properties, and if so, why?
To answer the first part of that question, you absolutely should keep looking at new-builds. There’s no reason to count them out of your search as they can provide some benefits that might make them worth the extra money…
Newer homes are built with the latest technology. This means you have a more efficient boiler than an older house might have, your insulation is fresh and more effective, you have a smart thermostat, solar energy, and anything else like this. A lot of the time, new houses are worth more because you are paying for all of this technology that is brand new and will last for decades before it becomes truly outdated. With older homes, you inherit old technology and end up paying for new installations anyway!
Safer electrical systems
Believe it or not, but a huge majority of electrical systems in older homes are nowhere near the current health and safety standards. This means you are potentially looking at a blown fuse or dodgy wire that can cause an electrical fire or blow your power out. Again, you will need to spend money getting someone to inspect the electrical system to be sure it meets the current requirements. With new-builds, they already come with an EICR Report that details the safety of the electrical systems and tells you that they are safe. So, you can feel more comfortable knowing that your home meets the current health and safety regulations in this department.
Significantly less effort
When you move into a fresh new house, you don’t have to deal with the remnants of past owners. You haven’t got to get rid of any furniture they’ve left behind or deal with stripping their old wallpaper off the walls. In older properties, you spend a period of time getting rid of the old owner stamp on this place, putting your own on there instead. In brand new homes, there’s less effort as you just move in and it feels like your home. So, from a mental health perspective, you could argue that new-builds are better.
As you can see, there are some compelling arguments that make brand new houses seem a lot better than they often do. People can view them as overpriced, but they sometimes provide better value for money. The key issue for many is the build quality; are new homes built to the same standards as older ones? It depends on the builder, but you shouldn’t automatically discount new-builds anymore.
Disclosure: This is a partnered post