Would you buy a second-hand new build?

Red-Squirrel_2

I bought a second hand new build 2 years ago. It was built in the 1960s though.

All houses were new builds once, I'd make my decision on the layout, size, location, price and other stuff that's important to you, not on how recently it was built.

hammy1988

If you like the house and its right for you then why not? The majority of issues people get are when they move into them first built, and if like me, they have only been minor snags, they are easily rectified within the warranty. You stand to get a New build still in new condition with nearly all or most of these problems all rectified by now. I'd go for it.

London_Town

On a 5 year old house, on an established estate, any problems will be apparent. Yes, any snags as such, will have been addressed by the first owner.

However, many homes built over the last 10 to 15 years have bigger problems that can't be solved. Most of the modern estates I know have inadequate parking which is a potentially huge issue. The other big issue is the possibility of a constantly rising service charge. These are the two issues that should concern you. That said, you can easily assess both by visiting the estate at different times of the day and speaking to some of the people who live there.

stator

Well there are certainly many things to consider, but yes I would go ahead.

Has the whole estate been finished? Are there any other plans to develop sites nearby. This could have an effect on your house in future.

When was the estate finished? If they've only just finished the last of the houses on the estate then prices might still be volatile.

How many houses have sold second hand so far? If there's quite a few then prices are probably well established.

Have your solicitor check that all roads and sewer pumps etc have been fully adopted. They should have been by now!

elverson

Yes, as long as the service charge/ground rent situation was reasonable - might want to check this.

And the usual factors - price, location, condition etc.

seven-day-weekend

We bought a two-year old flat, built in 2014, at the beginning of 2016. Original owner paid £100k, we paid £85k, the flats are now selling again at £100k

It was even better than it seemed as the original owner went to live with his girlfriend almost immediately after buying it, so it was still like brand new. I don't think he'd even used the oven!!

Service charge is reasonable and the area is popular. The development is not yet complete.

Can't see a problem here.

stator

Another good point, if there is a leasehold anywhere check the situation with ground rent before you spend any money.

phoebe1989seb

Near us there is a small development of about ten new build houses that were completed in 2012. They are of, shall we say, quite an unusual design. A couple have been re-sold since (lone/two years ago) and have dropped in price from £375k to £350k or thereabouts. One - I can only presume it was the showhome as we didn't move to the area ourselves till late 2014 - originally sold for £410k. Last year it sold for £350k and earlier this year it sold for a third time - for £330k. It wasn't a repo afaik.

Prices generally in the area have increased over the past couple of years, but this is the only new build development where anything has re-sold so far.

It wouldn't be for us, OP, but we prefer our houses to be at least a hundred years old, lol! If it's what you're looking for, however, then go for it.

SuboJvR

Every house was new once!

ScorpiondeRooftrouser

AdrianC wrote: »

Wasn't every "second-hand" house a newbuild once...?

I am glad I don't live in some rubbishy old "second hand" house like the Duke of Norfolk, or the Queen. I pity them.