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    • PaulLynn
    • By PaulLynn 26th Jan 17, 8:50 PM
    • 21Posts
    • 0Thanks
    PaulLynn
    New build or older build
    • #1
    • 26th Jan 17, 8:50 PM
    New build or older build 26th Jan 17 at 8:50 PM
    Hi, my girlfreind and I are looking to buy our first home but cant decide wether to go for a new build house or an older type. Looking for any suggestions based on your experience/opinion for some answers. Thanks
Page 1
    • Hedgehog99
    • By Hedgehog99 26th Jan 17, 9:04 PM
    • 1,255 Posts
    • 2,614 Thanks
    Hedgehog99
    • #2
    • 26th Jan 17, 9:04 PM
    • #2
    • 26th Jan 17, 9:04 PM
    Just in the process of buying my first new build.

    Current place is c. 25 years old.

    The newer the place, the better the standards of energy efficiency etc - current place has solid floors, new place will have insulated floors & more loft insulation.

    Beware of older "fully renovated" places advertised as EPC pending or e.g. "EPC: E (prior to renovation")" - if they've just put in a flashy new bathroom & kitchen, but haven't done anything about the wall insulation, the EPC is unlikely to have improved. If they had improved it, it would have been worth them getting a new EPC to be able to advertise its better grade when selling.

    What else is important to you? Location within the area you want? Type of property (terrace, semi, detached? Garage? Timescale of moving? (newbuilds might not run to schedule, but e.g. probate could take a while on an older place). Price of local newbuilds vs various ages of existing properties & the amount of updating they may need could help you decide?

    Some new builds estates have unadopted roads for which you pay an annual maintenance fee. Might also include public open space, shared driveways &/or leasehold garages. Older estates tend to just say that owners share the cost of shared driveway maintenance etc. Would you prefer to be paying annually or trying to track down landlords to agree on pay for one-off works?
    • PaulLynn
    • By PaulLynn 26th Jan 17, 9:12 PM
    • 21 Posts
    • 0 Thanks
    PaulLynn
    • #3
    • 26th Jan 17, 9:12 PM
    • #3
    • 26th Jan 17, 9:12 PM
    Ive seen a new development literally 5 minutes from where I live and seems perfect for location etc I am however skeptical about this help to buy scheme do I apply for it with a new build or avoid it and go at it without the help havent read too much into it tbh its all the added extra costs that comes with a new build thats putting me off upgrades, turf, carpets etc
    • ThePants999
    • By ThePants999 26th Jan 17, 9:56 PM
    • 706 Posts
    • 792 Thanks
    ThePants999
    • #4
    • 26th Jan 17, 9:56 PM
    • #4
    • 26th Jan 17, 9:56 PM
    I wouldn't buy a new build as your first home. You pay a premium, and you lose that premium when you sell - fine if you don't sell for ages, which I'm sure is your plan, but can be very problematic if you find things not going to plan.
    • kirtsypoos
    • By kirtsypoos 27th Jan 17, 2:45 PM
    • 2,767 Posts
    • 12,313 Thanks
    kirtsypoos
    • #5
    • 27th Jan 17, 2:45 PM
    • #5
    • 27th Jan 17, 2:45 PM
    I have bought both and they each have their pluses and minuses.

    My first home was a 1930s semi and it cost us about £5k in the first year with roofing repairs/rotten lintels etc which weren't picked up/didnt happen until after we moved in. It was more solid in terms of internals walls, but I could still hear next doors TV through the wall.
    It had a lovely large garden and the road it was on was quite wide.

    My second home is a new build detached and we managed to get flooring/fencing etc thrown in along with legals and stamp duty paid (Very important to see what you can get thrown in, if anything, as this will lessen what you have to spend on extras) so only real immediate necessary cost was blinds, and I don't foresee much £ being spent over the next few years.
    The internal walls aren't as solid and noise within the house carries a bit more, but as we aren't joined to another house, don't have the same neighbour noise as previously. The rooms are larger in our new home, although as we upsized that would likely have been the case in a larger old property too. Garden is smaller and the road it is on is narrower.

    I don't prefer one style over the other at the moment. I love our new house as it has given us the space we wanted, with the added bonus that we are unlikely to have to shell out for serious repairs for a good while, which is important to us as we are planning a family in the not so distant future.
    We used H2B but have a plan in place to pay it off ASAP

    What I'm trying to say is it all depends what you prefer, and what you can afford in your desired area. Happy house hunting!
    £800/3000 OH BC(73.33% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £800/31010.23 (97.42% paid)
    Mortgage - £162,900.00 (2017 O/P £1312.91) PAYDBX 17 #006 - £15299.59/14,539.71 Make £10 Apr £194.58 Make £10 May £159.75 Make £10 June £266.85
    • agurung
    • By agurung 27th Jan 17, 3:07 PM
    • 110 Posts
    • 28 Thanks
    agurung
    • #6
    • 27th Jan 17, 3:07 PM
    • #6
    • 27th Jan 17, 3:07 PM
    I wouldn't buy a new build as your first home. You pay a premium, and you lose that premium when you sell - fine if you don't sell for ages, which I'm sure is your plan, but can be very problematic if you find things not going to plan.
    Originally posted by ThePants999

    Not entirely true. It really depends on the location where lack of supply and more demands will increase the house prices rapidly.


    For example, huge development in south Cambridge (2000+ new builds since 2014). 3 bed new builds were sold for £380K in 2014 and now the same houses are being sold for £550K in 2017.
    • agurung
    • By agurung 27th Jan 17, 3:10 PM
    • 110 Posts
    • 28 Thanks
    agurung
    • #7
    • 27th Jan 17, 3:10 PM
    • #7
    • 27th Jan 17, 3:10 PM
    Hi, my girlfreind and I are looking to buy our first home but cant decide wether to go for a new build house or an older type. Looking for any suggestions based on your experience/opinion for some answers. Thanks
    Originally posted by PaulLynn

    Every person have their own taste and opinions. It is entirely up to you what you would prefer whether to go for solid old house or stylish modern house.


    Like others have said each have their own pros and cons. I personally prefer new builds that's just me.
    • leila88
    • By leila88 27th Jan 17, 3:44 PM
    • 2 Posts
    • 1 Thanks
    leila88
    • #8
    • 27th Jan 17, 3:44 PM
    • #8
    • 27th Jan 17, 3:44 PM
    As a first time buyer I would rather a new build. They seem to be cheaper for the value, and more modern.

    There are pros and cons to everything, you can make mistakes with a new home or an old one.Just don't rush into things
    • ashp
    • By ashp 27th Jan 17, 3:54 PM
    • 403 Posts
    • 133 Thanks
    ashp
    • #9
    • 27th Jan 17, 3:54 PM
    • #9
    • 27th Jan 17, 3:54 PM
    We also debated new or old.

    What made my mind up was I was concerned about loosing money on a new build admittedly this depends on various factors.
    I also grew up in the countryside and all the new builds around here have tiny gardens so we decided to go with an older property.
    • BusyBargainz
    • By BusyBargainz 27th Jan 17, 4:19 PM
    • 58 Posts
    • 84 Thanks
    BusyBargainz
    I personally went for an older build simply because in the area that I live, new builds are cramped together with very little garden space. I could get a lot more for my money when it came to space with an older house. As much as I would have loved to move straight in to a lovely decorated and updated house with hardly any work to do, I have really enjoyed decorating my older house exactly how I like it.

    There will be pros and cons for both. Have plenty of viewings and you’ll get a real feel for what you want.
    • ThePants999
    • By ThePants999 27th Jan 17, 5:59 PM
    • 706 Posts
    • 792 Thanks
    ThePants999
    Not entirely true. It really depends on the location where lack of supply and more demands will increase the house prices rapidly.


    For example, huge development in south Cambridge (2000+ new builds since 2014). 3 bed new builds were sold for £380K in 2014 and now the same houses are being sold for £550K in 2017.
    Originally posted by agurung
    True, and important. Strictly speaking, though, it doesn't contradict what I said Multiple factors influence prices, and a new build will lose value from being no longer new, but might simultaneously gain it all back and more from a general house price rise. Perhaps non-new-builds costing £380K in 2014 sell for £570K now!
    • PaulLynn
    • By PaulLynn 28th Jan 17, 8:19 AM
    • 21 Posts
    • 0 Thanks
    PaulLynn
    I think I'm slightly swaying towards a new build more each day I look at houses, one of the reasons is purely for this help to buy scheme do you have to put 5% deposit down or can you put more down is there a limit ?
    • kirtsypoos
    • By kirtsypoos 28th Jan 17, 12:03 PM
    • 2,767 Posts
    • 12,313 Thanks
    kirtsypoos
    You can put more than 5% down if you want PaulLynn, you have to take a minimum 25% mortgage so you could put down a 55% deposit should you so wish
    £800/3000 OH BC(73.33% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £800/31010.23 (97.42% paid)
    Mortgage - £162,900.00 (2017 O/P £1312.91) PAYDBX 17 #006 - £15299.59/14,539.71 Make £10 Apr £194.58 Make £10 May £159.75 Make £10 June £266.85
    • Elfbert
    • By Elfbert 28th Jan 17, 1:17 PM
    • 534 Posts
    • 673 Thanks
    Elfbert
    Both times I've bought I've bought a 'nearly new' flat (I'm in London.) First one was 6 yrs old when we bought it, new one is just under 2 yrs old - so we get lots of mod cons without a particular premium (where we're moving now new 2 beds are still up for sale, one or two for over a 100k more than we're paying!!!) Now, I don't think those are realistically priced - I think property investors bought them off plan and got a bit stuck - but I think ours is good value. And it's a location which is great for us.

    So worth checking out new-ish builds, if you like a modern look/feel/building methods, but don't want to be the one paying the premium.
    Mortgage - £68,000 may 2014 45,680.
    • nicholbb
    • By nicholbb 29th Jan 17, 12:52 AM
    • 129 Posts
    • 40 Thanks
    nicholbb
    You could always buy an old place in need of renovation and rip everything out and replace with new. Only recommended if you have good builders and if you do take them with you.

    Personally don't rule anything out and visit both, just set some rules. How much you prepared to pay in yearly costs (ground rent, maintenance, etc), are you looking for an investment to live in or a home, what amount of time will you be prepared to commute.
    • wifigeek
    • By wifigeek 11th Jul 17, 6:36 AM
    • 13 Posts
    • 0 Thanks
    wifigeek
    older build. dont buy off-plan. you dont know what you will end up with. if you get a bodge its a world of pain trying to get things remediated.
    • Debtslayer
    • By Debtslayer 11th Jul 17, 7:26 AM
    • 311 Posts
    • 469 Thanks
    Debtslayer
    I think it is down to personal preference
    Personally we don't like new builds as they are boxes with no character and no garden and we also wanted a garage and wouldn't have got a new build with garage in our price range
    But I can see the benefits of a new build from a move in and you don't have to do anything point of view.
    Whichever you decide happy house hunting!
    Current Mortgage: £114,794.64
    Current Mortgage end date: 2036
    Target Mortgage end date: 2026
    Overpayment Target for remainder of 2017: £2,000

    MFW No 124
    • getmore4less
    • By getmore4less 11th Jul 17, 9:02 AM
    • 29,174 Posts
    • 17,455 Thanks
    getmore4less
    I wouldn't buy a new build as your first home. You pay a premium, and you lose that premium when you sell - fine if you don't sell for ages, which I'm sure is your plan, but can be very problematic if you find things not going to plan.
    Originally posted by ThePants999

    well by that logic the best buy is the a second hand "new" build, a nearly new build,

    not paying the premium.
    not living on a building site*.
    not dealing with first round snagging.
    will have settled more so decorating should last.
    garden should have a bit of maturity with the planting.
    get to pick your first set of neighbors(they are a already living there).
    if on an unadopted site might be better visibility of service charges.

    downside, not blank canvas to work on.

    * we bought second hand phase one(18 months old) over a new build(same design) phase 2.

    Phase one has the full developments open green spaces bigger gardens and more south/SW facing so were the better buys.

    the P2 building work was not that disruptive mainly traffic BUT when the factory site nearer got demolished and built on that was over a year of dusty conditions and noise during the weekdays.
    • BBH123
    • By BBH123 11th Jul 17, 9:34 AM
    • 344 Posts
    • 448 Thanks
    BBH123
    I have had both, new and old and I would always go for old now.

    The new build I bought was down to location and its the only place I've bought where I got the keys and cried. I hated it.

    It had no character whatsoever, it was difficult furnishing it because the rooms were either smaller than we realised or the stairs were impossible to get normal furniture up. We had a massive row with the builders who told us the house would have a white bathroom suite and it turned out to be grey. They tried to tell us it was because the room was dark making the suite look grey. The garden was small and overlooked infact we got out as soon as we could. Buying purely for location was a bad choice and then of course because our box looked like every other box on the estate it took ages to sell and to get out we had to just recoup our losses rather than get a profit. And these days the press about bad Leases would be a risk I wouldnt entertain.

    Old and characterful everytime for me, yes I would have repairs and maintenance as they arose but even new properties have issues, one of ours being the plumbing pipes the builders laid were as narrow as they could get away with and our bathroom waste / drains blocked needing cameras and all sorts digging up the front lawn to see what the problem was. One thing that is big for me is I would be the one deciding when and how to spend my money not have some awful money grabbing agents telling me to hand over thousands of pounds on demand or charging me £250 just for a decsion on whether I could have a van on the drive or have a conservatory built.

    Old characterful and in control of your finances would win out everytime for me now.
    • Dutsey
    • By Dutsey 11th Jul 17, 11:55 AM
    • 29 Posts
    • 6 Thanks
    Dutsey
    We have recently brought a new build and love the fact there is no maintenance.

    I think the key with new builds is to go in with an open mind and expect snagging as nothing is perfect.
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