WHEN it comes to moving home or buying a first house - many buyers are faced with the dilemma of old versus new.
But according to latest research, Brits favour new builds over refurbishment or renovation projects.
Less that one fifth of house hunters are willing to take on a property that requires a lot of work - and while 63 per cent say they favour older properties, 81 per cent still want to move into a home that requires little or no work.
The findings from a well-known comparison website reveal that people are not keen to bite off more than they can chew when it comes to serious DIY – with 30 per cent of respondents solely focussing on buying new builds.
Linden Homes North sales director Steve Woomble said: “The choice of whether or not to buy new is enormous, leaving homeowners with a serious debate over which will give the best value for money - a new, or second hand property.
“While older homes traditionally have larger rooms; re-decorating, installing a new bathroom or kitchen and laying new carpets are just some of the DIY jobs many of us people planned if moving into a ‘used’ home.
“However, buying a new house can not only cut down the cost but also put buyers in the driving seat when it comes to those finishing touches.”
Reasons for buying new:
- Less maintenance - older homes may have more character but they also need more maintenance, like new guttering, replacement windows or extra roof insulation. Also, a boiler replacement could prove costly in a second hand home – while new homes boast energy efficient new boilers.
- Energy efficiency. New homes are well insulated, and include double-glazing as standard, making them cheaper to run than older homes. The costs of heating a new home will be considerably lower than those of a comparable old one.
- Great deals - competition in the financial services market at the moment means there are some great mortgage deals available, and Government-led incentives for first time and new homebuyers to can curb the cost of moving.
- A stress free move – House builders have perfected the moving process. Linden Homes’ part exchange scheme means no chain - and other specially devised packages take the hassle out of moving house.
- Many new homes have energy efficient extras as standard to provide additional savings, including water butts, water meters, energy efficient lighting and composting bins.
- New homes offer a blank canvas. Buyers can usually determine colour schemes, including kitchen units and bathroom tiles.
- Building warranty - all new homes come complete with a New Homes Building Council 10-year guarantee or similar warranty. As well as a valuation on a second hand property, most would-be purchasers would need to pay out for a homebuyer’s report - and then there is the possibility of a full structural survey on top of that!
- New homes often have features many buyers may take for granted, including ensuite facilities and added security aspects including smoke detectors and security alarms.
- Location is a careful consideration with house builders when looking for a new site at which to build – with knock on benefits of schools, shops and other amenities close by benefit the new communities living there.
Steve added: “In today’s market place, with so many incentives available – particularly the Help to Buy scheme - the argument for buying new as opposed to old has never been greater. There are massive benefits to ease the financial burden and stresses related to moving home.”
Other findings of the research by Gocompare.com include:
- 30 per cent of people would be willing to carry out an extension while 24 per cent are happy to buy a property that needs a lot of work.
- The main reason for buying an older property is the attraction of larger rooms (48 per cent) and the appreciation of character and original feature (38 per cent).
-ENDS-
For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk
