Changing From Second Hand To A Brand New Home Is Cheaper Than You Think

Imagine yourself in a brand new home with fabulous modern kitchen and space for the family.

For many of home hunters this sounds like a dream move, but one which they may consider to be too costly.

However, changing from a second hand property to a plush new home within the Linden Homes North region could be cheaper than you think, following some research by the Hessle-based developer and The New Homes Group financial experts.

Through the popular Help to Buy scheme, which is available to existing homeowners as well as first time buyers, opting for the change from old to new could present a pleasant surprise financially - and could actually save you money.

Based on the Help to Buy minimum deposit of five per cent – you could buy a new home for £200,000 (with £10,000 deposit) – and get around £62,000 more worth of house than if you bought from the second hand market.

This figure is based on the price of the second hand home being £132,000.

Here’s how it works:

    Help to Buy   Second hand
Purchase price   £200,000   £200,000
Deposit   £10,000   £10,000
Monthly repayment   £627   £930
Saving   £303    

(based on a typical mortgage rate of 1.89 per cent – as of May 2015)

Linden Homes North sales director Steve Woomble said: “We work closely with the team at The New Homes Group and these latest findings make extremely interesting reading for people who are thinking about moving from their existing property into a brand new home but are concerned that it may cost too much to change.

“Changing to a new home is cheaper than many people think through the Help to Buy scheme, and the benefits of a brand new property certainly outweigh those of a second hand home, when it comes to energy efficiency, maintenance and build quality.”

With developments across East Riding, North, South and West Yorkshire.

Other benefits of buying new v second hand:

Changing from a second hand property to a new dream home is cheaper than you think with Linden Homes North.
Changing from a second hand property
to a new dream home is cheaper than
you think with Linden Homes North.

-ENDS-

For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk

12 May 2015

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