Advise on first time buyers in 2023 - preferably NEW BUILDS

Ehi

hi guys,
I am a first time buyer and looking to buy a property in a choice of 2 cities. (where I work) though I work from home and (where my daughter lives) which is closer to London and hence more expensive. 

I work with software and dont really have time to renovate a property. Hence I am looking at new builds and speaking to a number of developers. 

Reason I am posting this, is because I learn something new everyday. I was told HELP TO BUY SCHEME had closed but recently told by Charles Church I could qualify for one of their properties which gives 30% off. So I asked the other developers and though waiting for a reply others say the scheme has ended.

My Decision in Principle is £290

I am sure there are many good deals out there, and I want to buy by Feb/March 2023 latest. Hence seeking advice on good deals, government backed helped (where do i find them) and hopefully if i am missing anything out, even in non new builds

All advice is welcome

thank you

dimbo61

This is a huge question ?
Google might be a  good place to start and right move.
Do you want a flat or house.
2/3/4 bedrooms
Walk in shower cos your not getting any younger !
Garden, parking, location, transport links etc
So you have a £290,000 budget will buy a nice 4 bed house in Cheshire ( well parts of Cheshire) 
One bed studio in parts of London 

Ehi

Yes I have been using google, rightmove, zoopla, onthemarket, primelocation for my search

Sorry, I forgot to mention. I have been looking at strictly houses with minimum of 3 beds with garden and parking (which fits squarely in my budget) 

(1) I am looking strictly in Yorkshire (close to Hull) 

(2) or Cambridgeshire (Peterborough, cambridge and milton keynes ) The latter 2 being above my budget

LegallyLandlord

Be aware that new builds are always more expensive than nearly new builds. Just like cars, new builds depreciate quickly. 

Anything built within the last 20 years is unlikely to need much renovating. 

Why the rush to buy? Even on a new build with no chain, Feb/March might be overly optimistic because conveyancing is so slow at the moment. Often because of lenders being slow and conveyancers being overwhelmed. (You get what you pay for with conveyancers). 

I’d start by narrowing down locations - deals will be available everywhere. Easy access to work and your daughter seems a good place to start. Then go and view as many properties as you can in your area and budget. 

A property is a long term investment and there’s no point shackling yourself with an artificial deadline. 

MikeJXE

Get alerts sent to you on Rightmove for properties in the area you want to live

Contact all the agents in that area and get on their mailing lists

For new build google for builders in the area

First Time buyer scheme on new build if you are truly a first time buyer https://www.gov.uk/first-homes-scheme

RedFraggle

If you want easy access to London and Hull then Lincoln isn't a bad shout. 
York also but more expensive. 
Do you know Peterborough? It's frequently voted a terrible place to live. There are nicer places on the East Coast mainline. I'd take Newark over Peterborough any day of the week. 

SiliconChip

There's a huge gap between houses that require renovation and new builds. Many houses require no more than cosmetic work (decorating, maybe carpets) when you move in, and many don't need anything doing depending on how picky you are. By only looking at new builds you are excluding many potential homes that are likely to be better value than new builds.

The most I've ever done on moving into a new home is to rip out filthy carpets and put down laminate flooring, my current house (builty in the 1930s) the only thing I did in the first year after moving in was to have blinds fitted in two rooms that had no curtains left behind by the sellers.

FreeBear

RedFraggle said: Do you know Peterborough? It's frequently voted a terrible place to live. There are nicer places on the East Coast mainline. I'd take Newark over Peterborough any day of the week. 

One nice thing to say about Peterborough - It is on top of the A1 and the East Coast railway. So easy to get away.

I'd agree Newark would be a better choice. Not so far to travel if you want hills.

Grumpelstiltskin

What about something like this?

Winthorpe Road, Newark 4 bed detached house for sale - £280,000 (onthemarket.com)

Ehi

LegallyLandlord said:

Be aware that new builds are always more expensive than nearly new builds. Just like cars, new builds depreciate quickly. 

Anything built within the last 20 years is unlikely to need much renovating. 

Why the rush to buy? Even on a new build with no chain, Feb/March might be overly optimistic because conveyancing is so slow at the moment. Often because of lenders being slow and conveyancers being overwhelmed. (You get what you pay for with conveyancers). 

I’d start by narrowing down locations - deals will be available everywhere. Easy access to work and your daughter seems a good place to start. Then go and view as many properties as you can in your area and budget. 

A property is a long term investment and there’s no point shackling yourself with an artificial deadline. 

Thats why I am asking questions. I welcome all criticisms harsh or not. As property is a major investment and not to be taken lightly. I currently live in in new build and so do many of my friends

I have been looking at both new builds and others, the challenge I find is that the difference tends to be about £40 - 60,000 in price. And my estimations are (kindly correct me if I am wrong) is that if I get an older house, I would definitely have to spend half or 3/4 of the amount above, if not more ....

Change all the flooring/carpets, change the entire kitchen and bathrooms, paint the entire house (inside) and petty things like finishings, maybe change the boiler and radiators within the next 5+ years and expect other issues. Which should cost me a good sum. 

I have a friend who took on a restoration home house, which he got for £50,000 (massive house with 6 bedrooms, massive garden and living room)

He then asked us (his gym buddies to assist) The council insisted he got railings that matched the victorian era and I know for sure that cost him £25,000 alone. The insulation too was gone, so were the windows. It got to a point, I gave up helping as it was like a bottomless pit. At one point he said if he knew he would never have touched it. Ialso recall when he got some massive metal delivered, and insisted I wear some specialized boots with metal front, just in case the metal fell on our feet while carrying it.

 I dont have time to do such myself

Ehi

RedFraggle said:

If you want easy access to London and Hull then Lincoln isn't a bad shout. 
York also but more expensive. 
Do you know Peterborough? It's frequently voted a terrible place to live. There are nicer places on the East Coast mainline. I'd take Newark over Peterborough any day of the week. 

hahaha

I heard about that and laughed, as I moved from London to Peterborough about 15 years ago and totally and completely disagree. Peterborough in my candid opinion is one of the nicests cities in the UK. It has lots of green, excellent cycle paths, lots of nature, rivers, lakes, water ways etc

I used to jog every saturday morning from my house to a place called FERRY MEADOWS, which I loved. It has 3 lakes and an excellent nature resort. I also have lots of childhood freinds who moved there from London also. I heard it was a choice of Peterborough or Milton keynes. So in terms of working class (responsible people) and posh areas its very high in my opinion.

How it got such a bad rating, beats me. Its a lovely city