Are people tending to buy new builds over old?

pself

I am in the south east and won't consider a new build. I want something with space around it and that has a bit of history, to get the space I want in a new build would cost significantly more than I can afford and if I have to re-decorate and do a new kitchen then so be it.

In terms of the leasehold thing, yes that would put me off without question.

Davesnave

London_Town wrote: »

I've always gone by a great bit of advice from a poster called Doozergirl (don't know if she's still active on the forum). She said that you can do anything to an old house, to bring it up to the standard of a new house. That's true as far as I'm concerned and my house is in the final stages of that process.

Doozer is still very much around, and she's right; you can bring an older house up to scratch....

I just wish I'd been under retirement age when I started! :rotfl:

Smodlet

Yes, indeed, and she talks a lot of sense. Yay, Doozergirl... and, imho, davesnave.

Davesnave

Smodlet wrote: »

Yes, indeed, and she talks a lot of sense. Yay, Doozergirl... and, imho, davesnave.

Before we get too congratulatory, may I just say that I've spent most of today in a hole, shovelling earth in the drizzle, and I'm very achey and messy now.

I'm sure our new porch will be worth it, just like the refurbed roof and the new drains, but there are times when I can see the benefits of new, or newish, in a clearer light! :rotfl:

Smodlet

You will get your reward in saleability, davesnave and, for all I know, before then.

Maybe try having a long, hot soak in the bath, works for OH.

I hope you enjoy your evening.

DRMANTISTOBOGGAN

Partner and I are in the process of buying a new build. It seems to me from looking around and the lectures we get on the pitfalls of new builds is that people who are older and more settled in their careers prefer the projects that come with buying an older house.
Unfortunately for us in our mid 20's trying to build careers, a project just is not an option. We've done some working out and between both working full time in demanding jobs rarely doing less than 50 hours a week, studying for a professional qualification with an average of 5 years completion time and a second degree, 7.5 hours in the gym a week, commuting, meal preparation we have 1.25 hours of free time per day.
The thought of coming home to a work in progress every night would tip is over the edge. Maybe in 15 years!

glasgowdan

But buying a pre owned home doesn't mean projects! Our last house just needed decoration to our taste. We got a new bathroom a couple of years down the line, but we spent zero time on that as a company did it!

I think a new build is a good idea for a family looking to stay put for years, but anyone thinking of selling again in the short to medium term really is taking a bit of a higher risk. I work at many new build properties and feel a sort of sadness in my belly when I'm at them!

Waterlily24

DRMANTISTOBOGGAN wrote: »

Partner and I are in the process of buying a new build. It seems to me from looking around and the lectures we get on the pitfalls of new builds is that people who are older and more settled in their careers prefer the projects that come with buying an older house.
Unfortunately for us in our mid 20's trying to build careers, a project just is not an option. We've done some working out and between both working full time in demanding jobs rarely doing less than 50 hours a week, studying for a professional qualification with an average of 5 years completion time and a second degree, 7.5 hours in the gym a week, commuting, meal preparation we have 1.25 hours of free time per day.
The thought of coming home to a work in progress every night would tip is over the edge. Maybe in 15 years!

I was 21 and OH was 26 when we bought our first old house (1930s), it took us 3 years to get it up to scratch (evenings and weekends) OH had to go up to Scotland for 3 months because of his job but we got there eventually.


I've still got the old estate agent details for when we sold it and this is what they said 'This is without a doubt the housewives dream house' another one said 'We can say without fear of contradiction that this is the finest property of its type that it has been our privilege to offer'.

geek1981

New builds always losing money cannot be generalised. All depends on how much you negotiate, what deal you get and the location of the property.

I bought a 2 bed newbuild flat for £175k in 2009 , sold for £200k in 2013
then bought 3 bed semi from taylor wimpey for £276k in 2013, sold for £440k in 2016

Both offers were above market rate for similar properties. Now exchanging for another 4 bed detached new build. (but this one's going to be permanent home)

Good thing was first two purchases i had stamp duty and legals paid by the builder along with free flooring thrown in. Also no chain complications as it was both part exchange. I find more people like to live in modern houses and you get decent neighbours as well who moved in same time with you.

Dr_Gonzo_95

We're going down the new build route this time, but that is only because we can use the Help to Buy scheme and get a much better house than we can with a normal mortgage.

Out first property was a Shared Ownership new build flat, which in the 3 years we were in it, gave us enough to move to a house in an area we wanted, that was a 1930's terrace house, now the time is right to move for us, and to get in the area we want to it would be either ex-council houses in need of a lot of work, or a new build with probably a little bit more floorspace, and on the edge of the town we want to move to.

In 5 years we'll re-assess our position and go from there.