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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 2
    • SuboJvR
    • By SuboJvR 11th Jul 17, 1:36 PM
    • 214 Posts
    • 157 Thanks
    SuboJvR
    We are in the process of buying a new build. For us the Help to Buy scheme makes a difference. For an older property, what we can afford doesn't match our needs. I guess this is why the HTB scheme exists. But after somewhere like 5-8 years we should be in a position to remortgage to include the HTB loan.

    That's the key for us - if we wanted an older property, there's nothing really we can buy in an area we want, and we can't really compromise further on this (my husband already will have a 35 mile each way commute, so going further away not only increases his time away from home, but increases his travel costs beyond a point that it would make financial sense to buy a cheaper house further out).

    I am aware that the house may lose some value, but similarly there have been nearly new properties on the development that have sold recently for close to what we are paying for a new one, and they don't have some of the features we do such as a garage, two off road parking spaces, or a utility room.
    I'm therefore optimistic about the property values in this specific estate, especially considering its proximity to another very popular development where people pay between £50k-£100k more to live, and both are same distance from the station (London commuting).

    I'm a bit worried that as we are not splashing on some of the options our house wouldn't be as desirable as an equivalent. But it may be that we pay for these extras later with other contractors, and surely this would be cheaper.
    • thebigstillmeister
    • By thebigstillmeister 11th Jul 17, 2:57 PM
    • 63 Posts
    • 43 Thanks
    thebigstillmeister
    Our first two properties were new builds (on large new developments),.. was great at the time, everything new and shiny, magnolia walls so could decorate to our taste with minimal effort, also alot of stuff thrown in like new carpets legal fees etc and we would not have been able to find properties as big without needing a lot of work which we would not have had the funds at the time..

    down sides,

    Ours were not that well built, obviously they put them up and shifted them asap
    Terrible parking, cars everywhere on footpaths etc
    Properties all line up, very close to each other and very overlooked small gardens
    Also alot were buy to let, and our next door each of the 3 rooms were rented out to people who didn't care about noise etc


    Moved in to our current property 2 years ago (built in 1989) and for us we wouldn't go back to a new build (unless we won the lottery and built it ourselves)

    The houses all have alot more space around them, they are all angled so not lined up like our previous new housing estates. There is plenty of parking and you don't see a mass of cars blocking the road. The building is alot more solid and the plus side is that the previous owners had nice expensive new sinks, baths toilets etc installed

    Also most of our neighbors have lived there since 1989 and its a very nice quite friendly place to be,

    Down sides

    We had to replace all the carpets, paint all the rooms etc which we are still doing
    Actual building needed some attention such as the wood cladding, loft insulation etc
    Also, a few of the rooms really need updating so quite a bit of money still needed to bring it up to scratch,.
    • SeagullFTB
    • By SeagullFTB 11th Jul 17, 3:15 PM
    • 36 Posts
    • 17 Thanks
    SeagullFTB
    As first time buyers, we've opted to use the Help to Buy scheme and buy a new build property.


    We looked at both options. Our budget without the Help to Buy scheme would've been around £200-210k, which doesn't get you very much in the South East. We want a home that we can grow in for a few years, so having a second bedroom was important. The only properties available with 2+ bedrooms either needed a lot of work, were in the middle of nowhere or ridiculously tiny.


    We're going into things with our eyes open though. We fully expect to have snagging issues and may end up with negative equity for a while, but we don't plan to move for 5-10 years at least, so don't see this as too much of an issue for now. The housing market seems to be growing very well in the area too due to the direct commute to London.


    It comes down to personal preference. There isn't a right or wrong answer. Any property will involve a calculated risk.
    • Thrugelmir
    • By Thrugelmir 11th Jul 17, 6:43 PM
    • 54,334 Posts
    • 47,149 Thanks
    Thrugelmir
    Much depends on the actual development as well. Parking , size of garden etc. Blocking of the sun from adjacent town houses. Density of build is so much greater than that in the 30's. My neighbours behind me are some 150 foot away. Makes a difference.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • LKRDN_Morgan
    • By LKRDN_Morgan 11th Jul 17, 8:01 PM
    • 241 Posts
    • 738 Thanks
    LKRDN_Morgan
    As a FTB I've gone for an older house. Mainly because I hate how cramped new build estates seem to be. Didn't want a leasehold which they all seem to be. Plus the premium you pay to have a new build seems crazy. I'm in the SE and a couple of new estates have gone up in my town with 3 beds going for £470k+ whereas I've just bought a 1970s semi for £350k which ticks every box.
    • mark5
    • By mark5 12th Jul 17, 4:40 PM
    • 1,146 Posts
    • 768 Thanks
    mark5
    I prefer older houses but would choose a new build every time for the low maintenance and running costs.
    • karl1989
    • By karl1989 13th Jul 17, 1:50 PM
    • 41 Posts
    • 49 Thanks
    karl1989
    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.
    Originally posted by BBH123
    i agree with this...
    we have had both, but the new build we felt trapped and we moved out after 11 months, it felt dark dingy and cramped, it was a 4 bedroom semi, we even had to rod the drains xmas morning as the drainage had sank due to the ground not being compacted enough, the gardens generally with new builds are tiny, (major point for us but thought it would not be an issue) the walls mark ever so easily so constanlty touching up, cracks appear everywhere after couple of months. plus make sure you get all tv/phone points connected by the builder as this costs a fortune and generally sockets are in wierd places,parking was a problem as well due to the neighbours parking also outside our door! we moved from here to buy a 3 bed semi built in the 1950's, this has a huge garden and it did need decorating throughout and we installed new windows and doors but the walls are solid, hows has character and garden makes a massive difference, i would never live in a new build again, we are actually in process of selling our house which we have made £25k in less than 2 years, you cannot get that with a new build.
    we are hopefully moving into our 4 bed detached 1980's build in the next few weeks, i will let you know how it is.
    my vote is older build all day long, for the sake of a bit of decorating, the house itself was built to last not built soley for profit!
    When the chips are down, go for broke and put them all on Red!
    • karl1989
    • By karl1989 13th Jul 17, 1:55 PM
    • 41 Posts
    • 49 Thanks
    karl1989
    Our first two properties were new builds (on large new developments),.. was great at the time, everything new and shiny, magnolia walls so could decorate to our taste with minimal effort, also alot of stuff thrown in like new carpets legal fees etc and we would not have been able to find properties as big without needing a lot of work which we would not have had the funds at the time..

    down sides,

    Ours were not that well built, obviously they put them up and shifted them asap
    Terrible parking, cars everywhere on footpaths etc
    Properties all line up, very close to each other and very overlooked small gardens
    Also alot were buy to let, and our next door each of the 3 rooms were rented out to people who didn't care about noise etc


    Moved in to our current property 2 years ago (built in 1989) and for us we wouldn't go back to a new build (unless we won the lottery and built it ourselves)

    The houses all have alot more space around them, they are all angled so not lined up like our previous new housing estates. There is plenty of parking and you don't see a mass of cars blocking the road. The building is alot more solid and the plus side is that the previous owners had nice expensive new sinks, baths toilets etc installed

    Also most of our neighbors have lived there since 1989 and its a very nice quite friendly place to be,

    Down sides

    We had to replace all the carpets, paint all the rooms etc which we are still doing
    Actual building needed some attention such as the wood cladding, loft insulation etc
    Also, a few of the rooms really need updating so quite a bit of money still needed to bring it up to scratch,.
    Originally posted by thebigstillmeister
    same views as this as well,
    the feeling of being crowded in new build is very apparent after a while, you feel like you are having a bbq on the street, cars park everywhere as they build as many houses as possible with no parking...
    cannot put a price on a little bit of privacy, plus older builds generally have a bit of community already established which helps.
    When the chips are down, go for broke and put them all on Red!
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