First time buyers and new build houses

eddddy

steve_jones wrote: »

I see it so often on social media a young couple posing outside their brand spanking new Persimmon home.

Maybe it's because when 'middle-aged' or 'older' couples buy a brand spanking new Persimmon home, they're less likely to post about it on social media.

NineDeuce

Where is your evidence that the value of new builds depreciates? I bought a new build flat 3 years ago and the value has gone up by about 15-20% in that time just like any other property in the vicinity....

Vampgirl

Wow talk about some sweeping generalisations! Just because you're a FTB doesn't mean that you don't know how to decorate or aren't confident with DIY :rotfl: And not all new builds depreciate (that really depends on the market in the local area). We considered new builds and second hand houses - what was most important for us was energy efficiency, living space and garden size. Yes HTB was a factor - though not a deal-breaker/maker.

We didn't like the layout of many of the older houses: small pokey kitchens and no dining room to make up for it, having to walk through the lounge to get to the stairs/kitchen/other room. Some had good sized gardens, but many didn't. We ended up with a new build with a large lounge, a huge kitchen-diner and a good size level garden in a nice area. On the downside, the bedrooms aren't that generous - but that's a compromise we can live with.

Amanda_Cm

We are FTB late 20s but we are going for house build in the 60s. Is a project for us.
Didn't like the new builds in the area. No garage or really small one. No view. My partner is in the construction buisness and he says the quality of the finishes is poor almost everywhere in the low-middle price range that we can afford.

ashe

NineDeuce wrote: »

Where is your evidence that the value of new builds depreciates? I bought a new build flat 3 years ago and the value has gone up by about 15-20% in that time just like any other property in the vicinity....

https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/top-tips-for-buying-a-new-build-home/

https://www.lovemoney.com/news/15178/hidden-cost-buying-a-new-build-fees-rents-size

Do a search on any community (even this one!) on new build depreciation and you will get a lot of results.

You bought 3 years ago and if your house has gone up by 20% in that time you are probably really lucky to be in such a desirable area. I have friends that bought new builds for £189k 3 years ago and the houses on their street similar spec are selling for £160k now.

You pay a premium for new build because you get to spec it your way and its 'new' - anyone buying off you doesn't get that benefit without increased cost in the terms of spec and it can never be truly new again. however if its a very high quality new build, its decorated well and maintained well and in a desirable area, you may buck the trend but certainly not to be expected right away.