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Buy new or resale properties?
JSparrow_2
Posts: 2 Newbie
Hi all, a little help please...
My boyfriend is thinking of buying in the next few months, or whenever the market gets back on track, whenever that may be......
His downfall is that he is being very fussy about the type of property he wants to buy. Ideally, he wants a new build property, or one that has been built in the last 10 years. Mainly because he wants to keep maintenance down to a minimum and wants it to look as perfect as possible. I've lived in many rented older properties and most have had small defects like cracks in the ceilings, no double glazing etc. and he doesn't want that.
I can understand that minimising the maintenance can be a better option for the first time buyer, but my concern is the profit it could make. The trouble with newer properties is they lack character, and often there will be a house with exactly the same layout a few doors down. You can find older properties that have been modernised but obviously there is the risk of something breaking down. Are older properties likely to make more money in the long run?
Just to add, I've noticed the prices of new builds haven't actually come down that much. In Bristol the average new 2 bed house is £150k and I've seen resale properties of the same size for around £130k.
Any advice on the pros and cons of new and resale homes would be greatly appreciated.
Thanks
Jenny
My boyfriend is thinking of buying in the next few months, or whenever the market gets back on track, whenever that may be......
His downfall is that he is being very fussy about the type of property he wants to buy. Ideally, he wants a new build property, or one that has been built in the last 10 years. Mainly because he wants to keep maintenance down to a minimum and wants it to look as perfect as possible. I've lived in many rented older properties and most have had small defects like cracks in the ceilings, no double glazing etc. and he doesn't want that.
I can understand that minimising the maintenance can be a better option for the first time buyer, but my concern is the profit it could make. The trouble with newer properties is they lack character, and often there will be a house with exactly the same layout a few doors down. You can find older properties that have been modernised but obviously there is the risk of something breaking down. Are older properties likely to make more money in the long run?
Just to add, I've noticed the prices of new builds haven't actually come down that much. In Bristol the average new 2 bed house is £150k and I've seen resale properties of the same size for around £130k.
Any advice on the pros and cons of new and resale homes would be greatly appreciated.
Thanks
Jenny
0
Comments
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Like your B/F I like brand new but would suggest, to get the benefits, of new, buy when the house in not brand new but a year or two old. You still have the balance of the NHBC type of warranty. You take a big hit on the value, of brand new, in the same way as if buying a brand new car.
I was in New build for many years and we pushed the Brand New bit hard as some do not like using things that have been used before. Don't laugh - but I heard many a person say they would hate to use the loo, bath, shower and basin and I thought you can change the loo seat but there was always big fans of brand new.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Hi all, a little help please...
My boyfriend is thinking of buying in the next few months, or whenever the market gets back on track, whenever that may be......
His downfall is that he is being very fussy about the type of property he wants to buy. Ideally, he wants a new build property, or one that has been built in the last 10 years. Mainly because he wants to keep maintenance down to a minimum and wants it to look as perfect as possible. I've lived in many rented older properties and most have had small defects like cracks in the ceilings, no double glazing etc. and he doesn't want that.
I can understand that minimising the maintenance can be a better option for the first time buyer, but my concern is the profit it could make. The trouble with newer properties is they lack character, and often there will be a house with exactly the same layout a few doors down. You can find older properties that have been modernised but obviously there is the risk of something breaking down. Are older properties likely to make more money in the long run?
Just to add, I've noticed the prices of new builds haven't actually come down that much. In Bristol the average new 2 bed house is £150k and I've seen resale properties of the same size for around £130k.
Any advice on the pros and cons of new and resale homes would be greatly appreciated.
Thanks
Jenny
Where in Bristol are you finding those averages? I've been looking and finding nowhere near that for newbuilds or resales. Are these partownerships?0 -
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your not going to make profit from a new build especially for the next few yearsIf you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Don't laugh - but I heard many a person say they would hate to use the loo, bath, shower and basin and I thought you can change the loo seat but there was always big fans of brand new.
How do those people manage in hotels, restaurants, at work, etc? Do they carry their own personal loo seat around?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »How do those people manage in hotels, restaurants, at work, etc? Do they carry their own personal loo seat around?
http://www.cleanseatuk.com/80066.html
They buy some of these of course?
A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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