If you’re planning on moving house, you’ll probably see lots of options on the market. These days, there are so many new housing developments offering loads of new-build homes. So, your options are more diverse than ever before.
The question we want to tackle is; should you buy a new-build home, or go for an older one? There’s no definitive answer, but we can look at the pros and cons of new-builds:
Pro: Modern designs
Obviously, new housing developments have the benefit of being modern. Everything is designed to be on-trend, so you get a house with excellent interior and exterior design. With pre-owned homes, you may inherit some interior design from the 80s, meaning you have a big job on your hands making it look modern.
Pro: More energy efficient
Another critical advantage of new-builds is that they’re built to current energy standards. As a result, you get a home that’s more energy efficient than a lot of old-builds. It retains more heat, meaning your spending on energy bills will be lower.
Pro: Less effort involved in moving
The downside of older homes that have been sold by someone else is that it takes longer to move in. You have to get all your stuff ready, then the previous owners have to move everything they own out as well. With a lot of new-build homes, the companies behind them make life easier for you. You can find Redrow Housing Developments with properties that are ready for you to move straight into. So, it’s just a case of getting your belongings together and moving in. Instead of the process taking a few months, it could take only a couple of days!
Con: More expensive
Perhaps the key disadvantage of new homes is that they’ll be more expensive than their older counterparts. This is simply because they’re more modern, and no one has lived in them before. So, if you’re buying a house on a strict budget, it can sometimes be hard to find a new development that fits your requirements and your budget.
Con: Harder to get a mortgage
The fact that a lot of new builds are more expensive than older properties means it’s harder for you to get mortgages for them. Usually, lenders ask for larger deposits because the house price is so high. As such, you might not be able to pass the application requirements to get the loan you need.
Con: Homes aren’t always built
While some new properties are already built and ready for you to move into, some might not be. You could buy a house, then have to wait for it to be constructed and prepared for you. Of course, this all depends on the specific home you’re buying. If you only look for new-builds that are ready to move into, then it won’t be an issue.
New housing developments have their fair share of pros and cons. Ultimately, it comes down to your budget, where you want to move, and how fast you’re hoping to move.
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