Why buying a new build home is a good investment
Buying a new build home is all about investing in your future. It’s an opportunity to step onto or further up the property ladder. There are many financial benefits that come with owning a new build and with schemes and offers in place, you could afford to buy your new home today.
Lower annual energy costs
A major financial benefit of moving into a new build property is the lower energy costs. Barratt Homes, along with other new build developments are built to be 65% more energy efficient than the same sized older homes. This is due to modern improvements such as providing an airtight home, insulated roofs and argon gas filled double-glazing. The Home Builders Federation (HBF) found that in 2017, 8 out of 10 new build homes had the top A and B ratings for energy efficiency. This is in comparison to just 2.2% of existing homes having this rating. They also found that new build homeowners would only spend on average £443 a year. This is compared to the £1072 an owner of an older home might spend. Chairman of the HBF, Stewart Baseley, says
“Owners are saving hundreds of pounds a year in energy bills due to the modern design of their homes and the materials used to construct them.”
Having low and steady energy bills can help you to save for the things that matter and take the pressure out of owning a home.
New build homes come with a 10 year NHBC Warranty, plus a 2 year fixtures and fittings warranty. This means that if there are any surprises, your home is covered. And because all of your fittings will be brand new, you won’t need to make any changes when you move in – saving you time and money.
New means new
New build homes are perfect for moving straight into, without needing to spend on immediate fixes. Designed as a blank canvas, you can add your personal style to your home, without having to break the bank. There’ll be no need to worry about fixing old wiring, plumbing and floorboards, as a new build home is yet to be lived in. So you can put your stamp on it as soon as you move in.
Saving on major refurbishment costs means that you can put your money towards the things that you love instead.
There are lots of schemes and offers that can help get you on the property ladder quicker. The Government-backed Help to Buy scheme means that you can buy a brand new home with just a 5% deposit. The Government then lends up to 20% of the property value, so you will then need to secure a 75% mortgage. The Government loan is interest-free up to the first 5 years, making it easier for you to afford your dream home. These schemes slightly differ in London and Scotland, but the offers are still available.
By using the Help to Buy scheme, you can own your new home without having to put so much into your deposit. As this scheme is only available for new builds, it’s something that comes as a financial benefit to buying new. Whether you’re a first time buyer, or looking to move on from your current home.
Investing in a new build can lead to fewer costs in the long-term. New build homes are built to last and to the highest standards. This will ensure that you don’t have any hidden surprises that could result in high fees and payments later on in life.
To start your new build journey, find a Barratt Homes development near you.