Nationwide......

domcastro

Probably off topic but new builds normally have small gardens and paper thin walls. My first house was built in 1973 and I ended up losing 4 inches off each bedroom as I built stud walls. I was fed up with hearing my flatmate's girlfriend moaning "Ah James, james ahh james" all flipping night!:rotfl: :rotfl: :rotfl: It's alright when your kids are young, but as soon as they become teenagers, you'll have to reassess things!!!

guppy

sarkin wrote: »

Ok newbuilds that was a bit unfair of me, I am sure you will enjoy living in your new dream home.

Not unfair at all...anyone buying a new build today, especially off-plan is most definitely bonkers!

dander

I think this is the only sensible way for a mortgage company to value a property really. Their valuation is all about security for their loan, so the figure that matters is what the house would be worth if they were forced to repossess from you. And with a new build, what they'd be reposessing would inevitably be in slightly worse condition than what was bought - slightly soiled if you like.

For their purposes there's really no point in an 'as new' pristine valuation.

franklee

GracieP wrote: »

Why would anyone consider a new house to be worth more than an older one? It's not like a 2nd hand dress or car. I also get the impression that for the most part houses were built to a much better standard in the past. Even a lot of post-war builds, while not very attractive are sturdy and well-sized. And houses built in the 1920s and before are generally very handsome. Unless the new-build house is built to well above average architectural standards I can't imagine why anyone value* it above an older house.


*From a monetary point of view, obviously people can value it higher in terms of taste if they prefer modern builds.

I see what you mean but I don't think that's the comparison meant. I think it was meant the difference in price between two identical recently built houses on the same development, one brand new and one nearly new.

In that case the brand new one is arguably worth more just for being brand new. On the other hand the nearly new second hand one will have floor coverings, possibly a landscaped garden etc. But the value of those depends on if they would be the next buyers choices or not. On the whole it's seems the brand new never been lived in blank canvass is worth more. To me it would depend on what had been done to the nearly new house and how well kept it had been. Sometimes undoing other people's bad choices just isn't worth doing in a nearly new house.