New Build or Older Home?

Smodlet

What deannatrois said. Only thing I might add is, if you can find a friend who knows a builder who will come and look with you for a few quid, maybe a pub lunch and a pint, even better. Decent builders (a rare but not extinct breed) can spot things even surveyors miss, give you a rough idea of what they would cost to fix (which a surveyor cannot) and put things in perspective for you rather than just giving you an @rse-covering, scare-mongering report with no context.

Despite the above, I would never, ever advise anyone against having a survey done but why go to that not inconsiderable expense on a property you could have avoided by having a builder look at it first?

HTH and good luck, OP.

Miiade

I much prefer new builds due to the layouts and the low maintenance of them. I have had 3 new builds over 15 years and never had a problem with any of them. Clearly you do hear of horror stories with them but there are also problems with older houses, but that does not make the news does it.

However, would I buy a new build right now then the answer is no, simply because they are overpriced mainly due to the governments HTB scheme. All this scheme has done is pushed up new builds prices significantly and meant that people have to borrow more.

If and when the htb scheme is stopped (and there is talk of it happening) then new build prices will drop significantly maybe 20%, this will have a knock on effect on lowering prices of all houses as well.

I don’t think we are in for a crash but prices will flatline or drop in real terms over the next few years, this is a good thing as it will allow real wages to catch up and allow more people to buy. How anybody on average or low wages in the south east especially is buying at these levels is bejond me.

Op consider your decision lucky, it’s all one big ponzi scheme, get your new build if htb is stopped.

Doozergirl

ProDave wrote: »

I am building my own new build, the only way I know I am getting what I want. There are not many mass new builds on an estate that I would want.

However if buying "second hand" I would look carefully at what you are getting.

Personally I would not now want a house with an EPC less than D, and ideally C or better. You already can't let a property with an EPC of F and that will soon change to E, so older, poorer houses must reduce in value as demand for them will fall, and who wants to be pumping lots of heat in just to leak out? And many will be hard or very expensive to improve.

So probably the sweet spot is something 10 to 20 years old that should be built to a reasonable standard and will have had all the problems ironed out.

P.S I am biased, I am building a well insulated air tight house that I expect to get an EPC of A when complete.

Where have you got to with your build?

We are on Day 10 today and laying out the blockwork of the footings. Our house is made of SIPs and will be airtight too.

Gone OT, but I would never be tempted by a brand new developer build. I know HTB makes them particularly tempting at the moment but they're always overpriced.

We've always renovated previously and had the fittings and quality of finish we've wanted. This time we're starting from scratch.

goodwithsaving

Jmcrt wrote: »

Hi All!
My question is, are new builds good quality? Do you get more for your money with older houses and are older houses built to last more than new builds?

I don't like new builds because often they're small, uniform, put up quickly and on estates which become a dodgems course because they never put in enough parking. However that's one end of the new build market (the Barrett, TW, Linden etc. end). Of course, the premium developers or one house new builds are often better quality.

You will always pay a premium for a brand new product. Worth it? Not to me.

Some older houses are more solid, some older houses are also shoddily built and/or have many more years of DIY mishaps.

In this area, new builds are selling. Older homes are not. Quite why a new build 2 bed flat for 250k would sell faster than an older 2 bed house for 240k puzzles me. Largely due to Help to Buy, partly because some are too impatient to wait, save and then do somewhere up gradually, or don't want the hassle.

Some new builds are built on former quarries, places prone to flooding and land instability (apparently resolved prior to building, owners experiences say otherwise).

Would I pick older house over new every time? Unless I can design and oversee a self-build type of new build, yes I would always pick an older house. I like transforming a place, and you get to buy in an established neighbourhood with a pretty good idea of who your neighbours will be!


But people like different things and what may suit me, may not suit you.


ProDave, very envious of your build!

teddysmum

We bought a new build back in 1971, but it was built by a company my father worked for (no discount for that) that was known, in those days,for its good quality.


Nowadays, I wouldn't buy a newbuild as people seem to have far more snags (we just had a split in the veneer on a door and a small chunk of wood out of a bedroom door frame, the painters having ignored it and painted over. We ignored the latter fault as it could be filled in when we painted.


My son had lots of snags with his newbuild (another Barratt) , including a pipe leak damaging the living room ceiling and his was one of the biggest semis available, yet it has turned out to be too small for a family with three children, whereas ours, with only one bathroom and toilet, would have had ample space, including storage and has no problems with limited street parking. (Thee latter seems to be very common on new estates)


Therefore,should we want to move it would be something from the early 70s,again, as going to old brings the problems such as pipework and other items needing replacement for safety reasons.

parking_question_chap

ProDave wrote: »

Personally I would not now want a house with an EPC less than D, and ideally C or better. You already can't let a property with an EPC of F and that will soon change to E, so older, poorer houses must reduce in value as demand for them will fall, and who wants to be pumping lots of heat in just to leak out? And many will be hard or very expensive to improve..

I have moved house several times, and this has never even crossed my mind to be a factor worth considering.

I would rather live in a less efficient house with character, than any pretty much any new build you see these days, even it it does cost me more in gas bills.

To say older properties will lose value because newer properties cost less to heat is a bit optimistic to say the least.

Davesnave

There are new builds and new builds. Developers like Barratt mass produce, with all that brings, but we have a local company in our small Devon town which specialises in wooden frame, highly fuel-efficient builds on individual or small sites, so I'd not rule one of those out automatically.

Over in Wales, we met a small builder who was doing much the same thing, but only on plots he could find of an acre or more, so there was another niche being filled.

One advantage of buying older houses is that the location's matured. A walk around at different times of the day/week tells those with eyes and ears what it's like living there, and a Google may show the chances of further development. With a new build, no one knows what the neighbourhood will be like, or how the the next phases of building may alter things.

We last bought a 1970s bungalow, for the plot rather than the property, which had severe shortcomings. A 50 year old house is likely to need some attention, and this one more than most, but now it's done, we have a an efficient house that's a joy to live in. However, much of that is down to aspect and the way the plot 'works.' Even next door, built to the same original spec, would be no good to us, as it's orientated 90 degrees differently, though to someone else, that might not be noticed.

So, don't rule too much in or out. There will always be exceptions to rules and compromises too, so it's what works best for you that matters.

Grezz24

We are in the process of buying a new build. I have read the horror stories and i am prepared for some snags, but id suggest before you do buy on a development go and talk to your potential new neighbors who already live there. They will be able to give you an idea of what the houses are actually like (dont take the show home as a given that yours will be like that)

For us the new build option was also cheaper than an older house (new build was £223,000 for 4 bed detached with 'garage' (used for storage as i doubt my car would fit!) and a great sized south facing garden, where as older houses at the same size etc are £250,000 (poor house) to £300,000+ which is outside our budget.

Id suggest if you do go new build you:

1. speak to neighbors to ask about their snags and any issues they had
2. visit the area at night and day like you would any other house to get a feel for area
3. potentially check catchment area for schools
4. check any restrictive covenants
5. make sure its freehold
6. check any service charges for the area (£70 a year where i am for maintenance of the land etc)

davidwood681

I own a new build and a house from the 1800's.

Lived in both and whilst the new build is more practical I would choose the old house any day of the week.

It just has so much character and isn't the same as the other 1000 houses in the area like the new build is.

hazyjo

Have you definitely not yet exchanged? I'd be surprised if you hadn't with a new build with only two weeks to go! If you have, ignore all the rest of my post and prob everyone else's above lol! (Although noticed on a second read that you'd actually pulled out - so hope you haven't exchanged!)

If you weren't getting to choose the interiors, etc, then your entire sentence of "I’ve always had my heart set on a brand new, shiny new build,m. A blank canvas I can create in to a loving home" is meaningless really. You would be living with NEW things that you won't want to change. If you buy a 'second hand' house with old fittings. you'll be more inclined to change them and make it your own. (Unless of course it was kitted out with everything you would have chosen.)

The negative feelings cos something has happened to it are entirely normal, but heightened by you being a FTB. I'd rather it happen to a new build where the builders will have to get it sorted back to perfection rather than in an older house where you then have to trust the owners to sort (presuming you've not exchanged and therefore insured it yourselves).

Generally, Barratts used to take a bit of a bad rap as they built loads of small plain houses in the '80s and it was more about quantity/speed than quality, but I'm guessing they have improved over the years as they are still going (seemingly) strong!

Usually, you get more for your money with an older house.

One thing to bear in mind too is that if you're buying one of the first on a large estate, the rest of the builds/estate could take years to finish. You don't want to want/need to sell in a few years' time only to find you can't or have to take a hit as people will pay more or the same for a new build than your second hand one.

It's not silly to pull out due to a gut feeling - but FTBs will get these 'gut feelings' about anything they buy so try not to let it spook you too much or you'll never buy!