Why buying a new home could be right for you
Have you considered the many benefits of buying a new home over an older property?
Want to put your stamp on a blank canvas? Looking for a place with lower running costs? There are many reasons why so many people are buying new build homes rather than an older ones.
Buying a new home is more cost effective
The difference between the running costs of an older property and a new home can be substantial. Recent advancements in energy efficient technology are clear when you compare a new home to an older property.
Research shows that families living in newly built homes save up to £629 a year on their energy bills.* And their homes are warmer, too – without the drafts and chills you find in older properties.
There doesn’t have to be a chain
There may well be a pressing reason for you wanting to sell your existing home. Maybe you need more space for your growing family, or perhaps you need to move for work.
Whatever the reason, you’ll probably want to move as quickly as possible. But with one in three purchase chains in the UK falling apart, can you risk someone backing out at the last minute?
With a chain, you’re dependent on your buyer to keep to their promised timetable. It’s stressful, time consuming and can be emotionally draining. You’re also at the risk of being ‘gazumped’ if another purchaser swoops in with a higher offer.
However, with a new build you’re no longer at the mercy of the person you’re buying from. Make the most of our Part Exchange scheme and we’ll be your guaranteed buyer, so you can move into your new home faster – and without any unexpected curveballs. Our professional sales team, who understand the complexities of moving, will help ensure your move is as smooth as possible.
There’s no requirement for renovation
We work longer hours than ever and few of us are willing to spend our evenings renovating a ‘doer-upper’. In addition, DIY is expensive. If done incorrectly, you could end up incurring significant expense to rectify problems. Even if you get the professionals in, there is no guarantee the work will be done to the required standard either. But if you buy a new build home, it’ll be ready to settle in to from day one – no hard work required.
Everything is new
Maybe it’s stating the obvious, but with a newly built property everything inside is new. The bath, the boiler, the shower and toilets, the oven, and any other fittings and fixtures. The new appliances will all be highly energy efficient, compared to older appliances.
They will also be under warranty which can be a huge reassurance when you move into a new property. It means as a buyer you have guarantees and won’t be stung by any unexpected costs, like replacing the boiler just a couple of months after the purchase goes through.
It’s a secure home
A home should feel safe and secure, and with a new home you get the benefit of increased security. From stronger doors and windows to greater electrical and fire safety measures, a new home provides extra security compared to a more vulnerable older building.
You also get extra peace of mind with a 10-year warranty issued by the National House-Building Council. In the unlikely event that anything goes wrong with the property a few years down the line, you have someone to call.
Assistance is available with Help to Buy
Currently, the Government is continuing to provide assistance to both first-time buyers and existing homeowners through the Help to Buy scheme. With Help to Buy, the Government lends you up to 20% of the cost of a newly built home (15% in Scotland, 40% in London), which is interest free for the first five years. That means you may only need to raise a 5% cash deposit and a mortgage for the 75% difference (80% in Scotland, 55% in London).
You can find out more by talking to our experienced Sales Advisors who can help explain the scheme to you, or by visiting our website. What’s more, when you purchase a new build property with Barratt Homes, you’ll have access to our panel of expert mortgage advisers.