There are two types of modern properties – brand new and “second-hand”. Both have the advantage of being built to modern standards. For example, energy efficiency and safety considerations have improved dramatically over the past 30 years. The advantages of purchasing a brand new home as the first owner can include choice of plot/aspect, design, and finish of the property in liaison with the builder. There may also be part-exchange or other incentives to buy, and it’s great to be able to put your own stamp on an immaculate home.
Disadvantages include snaggings (unfinished bits and pieces), a garden that could take years to mature, and the inconvenience of possible other building works nearby, along with the associated muddy roads. Also, be careful not get caught up in the marketing hype of a new development, as values might not truly reflect local market conditions, but the developer’s ambitions. When you come to sell, will you be competing against Phase 2?
Buying a “second-hand” modern property is likely to have fewer surprises, as the first owner will have solved any teething problems (even small things like fitting a doorbell or exterior light) and may well have installed extras such as a garden shed or loft room. Inroads will have been made into the headache of planning, stocking and cost of a new garden, and discounted carpets and curtains may possibly be included in the purchase price.
So do consider a nearly-new home alongside a brand new one, and check out our next article about the pros and cons of buying a much older property.
Needless to say, if you are thinking of buying or selling - old or new, then please do get in touch on 01925 222555 so we can guide you responsibly towards your desired outcome.