New Build Homes

wastedtalent

I'm a FTB (with my partner) and we've just started looking into houses.

We've been looking at new builds but are not sure if this is a good idea or not. We're in Manchester and the main players seem to be Taylor Wimpey and Barratt.

Benefits for us are, that the house would be covered by the 10year builders guarentee and also we can stretch out deposit a bit further (with the deposit match scheme) and thus purchase a more valuable property, but I'm not sure of how they will stand up over time compared to older properties.

I am aware initially that the property will lose value as all the fitting are new, and clearly these devalue, but it's not as easy to compare the market or the value of new builds compared to older properties.

Does anyone have any experience of buying new builds and if the value will rise/fall as more new builds are built in the area? It's all a bit new to us, so a little bit daunting.

leveller2911

Don't see the NHBC warranty as a big plus as its not.The NHBC warranty is scheme financed by the House builders (vested interest)and there are plenty of horror stories about the scheme.

You probably have better protection getting a full structural survey done by a charted Surveyor.I would also say in my opinion that there are NO well built new homes built by the big housebuilders and I have over 25 years in the industry.They build cheap and sell high to maximise profits........Just my opinion of coarse.Don't get taken in by new builds with nice show homes all nicely kitted out as its an image and thats all.


Personally I think anything built before late 1930's are much better value on the whole, more for your money and definately better built.

Whatever you chose I hope it works out for you but remember theres no rush, house prices aren't going North for a few years IMO.

wastedtalent

Thanks, we're not in a rush, so wil make sure we make the right decision.