First time buyer - new or 2nd hand?

littlemi_2

Hi.

My partner and I were looking at some lovely new build semi-detached houses in the area we want to live. We decided to check out some 2nd hand properties in the area too.

The new builds started at £139,950 with a 5% gifted deposit whereas the 2nd hand identical houses were listed at £129,950 having been on the market 7 months and reduced from £139,950 and originally bought for £144,950 4 years ago.

Are the new builds actually good value, or are the 2nd hand sellers being stubborn?

davilown

littlemi wrote: »

Hi.

Are the new builds actually good value, or are the 2nd hand sellers being stubborn?

AFAIK, generally speaking, you will pay a 5-10% premium for a new build. Only you can decide what is better for you. For us, a 1960's detatched had 250 square footage than a new or recent build (2000 - 2011). in addition, they generally had bigger gardens and more scope to add 'value' ie loft/extensions. Yet theses older houses were priced between 13 -18% lower than the newer builds.

Beckyy

Would pick an 'old' house over a new buid any day. Much better value and have more character IMO.

Best of luck!

motherofstudents

Agree, an older house every time. A new build is very attractive but you can make the interior of any house look like that. I believe there is more likelihood of negative equity with new builds.

littlemi_2

Thanks for the replies. Although there's only 4 years age difference between the houses I've been looking at.

What are new-build semi-detached like anyway? I remember in my Grandma's 1950's house you could hear the neighbour unplugging their TV before they went to bed. Are new ones sturdier/quieter/worse?

Old_Git

it depends on how Old the secondhand house .
Older houses will be harder to heat ,but generally bigger

dktreesea

I did see an older house recently, on another forum, where the kitchen floor fell through to the basement - yes all the floor for 9 to 10 feet jusging by the size of the whole, - shortly after the person bought it and moved in. So much for their surveyor (they did have one).

What doesn't appeal to me about new builds is that they tend not to be very central, so don't have all the amenities and infratructure advantages you get living closer to the city centre.

Gonzo33

littlemi wrote: »

Thanks for the replies. Although there's only 4 years age difference between the houses I've been looking at.

What are new-build semi-detached like anyway? I remember in my Grandma's 1950's house you could hear the neighbour unplugging their TV before they went to bed. Are new ones sturdier/quieter/worse?

Personally I would go and have a good look at the options you have. What suits one person will not suit another.

My Nan had a 1930's semi and she could hear the next door neighbours in the lounge area's but nowhere else.

My friend lived in a brand new semi and couldn't hear next door, but I lived in a brand new property and could hear next door flushing their toilet, walking around, low level voices.

pawlala

I've been living in new-builds for 15 years. As long as you get what you want with extras and ensure that all the snags are rectified, its a great way to relieve stress of DIY and just enjoy a house that nobody has lived in before!

Andersonbill_2

That depends upon how the old house is. Is that comfortable to you or not.

J_i_m

When I get to the position of being able to look for my first property with a realistic view to buy I won't be deliberating over weather it's old or new build.

For me the criteria are:

Is it within my budget?
Is the location suitable?
Do I like it?
Does it meet my needs? (i.e is it big enough, do I have somewhere to park my car? is it energy efficient etc)

If it ticks my boxes then it really doesn't matter when it was built.