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    • kgreen94
    • By kgreen94 4th Jan 18, 8:45 PM
    • 1Posts
    • 0Thanks
    kgreen94
    New build homes... the catch
    • #1
    • 4th Jan 18, 8:45 PM
    New build homes... the catch 4th Jan 18 at 8:45 PM
    Hello all,

    Apologies if this has previously been answered but I just want some help! Me and my partner (23) are looking to save for a deposit for our first home together.

    We are looking to save 5% for a new build property and take advantage of the help to buy isa. However, question 1: why are new build homes soooo expensive
    and following on from that we will need a bigger mortgage as we are both on 18-19k each therefore won't be able to afford a mortgage on a new build

    Basically how does it work out as currently i don't think the new build scheme can benefit us?

    Thanks!
Page 2
    • p00hsticks
    • By p00hsticks 5th Jan 18, 1:45 PM
    • 6,255 Posts
    • 6,716 Thanks
    p00hsticks
    Older houses usually have more garden and a garage big enough to park a car with room to get out. New estates also seem to have parking problems for visitors as road spaces/bays are limited. (One near us has double yellow lines, allowing no road parking at all and each house has a tiny garage, with drive parking for one car.
    Originally posted by teddysmum

    I'd say your comments about garage sizes aren't necessarily true - cars have gotten bigger over the years, so garages in older houses are often smaller and won't always accomodate modern vehicles. Our small corsa just about fits into the garage of our 1947 house
    • bouicca21
    • By bouicca21 5th Jan 18, 3:31 PM
    • 3,696 Posts
    • 5,556 Thanks
    bouicca21
    Coo, didn't even do woodwork at my school. How I hated needlework ... I don't have any confidence about DiY or choosing tradesmen, which is one of the reasons I appreciate this site for the mix of skills possessed by posters.

    Now I will disagree with Money! To me anything built in the last 10 years, maybe more, is too small. I remember some 20 years ago being shown round a recently built house in what is still regarded as a desirable development and being shocked that there was hardly enough room to walk round the bed in the master bedroom.

    Maybe new builds are just way smaller in London though?

    And yes older garages tend to be small. My last house was built with a garage in the 1930s, just big enough for a baby Austin. My current garage, built in the mid 60s would just about fit a hatchback, as long as the driver didn't want to get in and out of the driving seat.
    Last edited by bouicca21; 05-01-2018 at 3:35 PM.
    • Lizbragg33
    • By Lizbragg33 5th Jan 18, 4:56 PM
    • 25 Posts
    • 15 Thanks
    Lizbragg33
    Completely disagree with lots of the comments on this post. I bought a new build house last year and absolutely love it. We have lived in older houses before and I think if we ever buy another house it will be a new house too.


    The house I bought was with a smaller construction company not one of the bigger ones. The house has wide hallways and staircases plus high ceilings. It is not small at all and far bigger than a lot of older homes we viewed They have used the space better with us having a huge room on the 3rd floor with built in wardrobes and ensuite. We have gated parking at the back of the house that fits 3 cars. The cost of energy is half what it was in a much smaller house because new houses are better insulated and have brand new eco boilers. My house has 2 separate heating systems so I can heat upstairs and downstairs separately.


    Also the price has risen by 14k in the first year of living there.
    • teddysmum
    • By teddysmum 5th Jan 18, 5:15 PM
    • 9,044 Posts
    • 5,393 Thanks
    teddysmum
    I'd say your comments about garage sizes aren't necessarily true - cars have gotten bigger over the years, so garages in older houses are often smaller and won't always accomodate modern vehicles. Our small corsa just about fits into the garage of our 1947 house
    Originally posted by p00hsticks
    I was thinking more of 1970s 1990s,rather than earlier twentieth century.
    • NeilCr
    • By NeilCr 5th Jan 18, 5:58 PM
    • 1,828 Posts
    • 2,464 Thanks
    NeilCr
    Completely disagree with lots of the comments on this post. I bought a new build house last year and absolutely love it. We have lived in older houses before and I think if we ever buy another house it will be a new house too.


    The house I bought was with a smaller construction company not one of the bigger ones. The house has wide hallways and staircases plus high ceilings. It is not small at all and far bigger than a lot of older homes we viewed They have used the space better with us having a huge room on the 3rd floor with built in wardrobes and ensuite. We have gated parking at the back of the house that fits 3 cars. The cost of energy is half what it was in a much smaller house because new houses are better insulated and have brand new eco boilers. My house has 2 separate heating systems so I can heat upstairs and downstairs separately.


    Also the price has risen by 14k in the first year of living there.
    Originally posted by Lizbragg33
    Iím with you. Iíve bought two new builds - the second was two years old but had never been lived in.

    The first - a decent size 2 bedroom flat in Lewisham with secure parking was great. It served me well for five years, warm, secure, good height as you say and I paid off my mortgage when I sold it.

    The second. The one I am writing this in is a 2 bedroom house on the Kent coast. Again, warm, again secure, again high ceilings with a dedicated parking space. A small, easily maintained courtyard (hate gardening) and I am on a quiet, gated estate. Itís gone up in value by 20%. All my friends love it. It was by far the best house I saw when I was looking

    Horses for courses and all that but I canít understand folks who make sweeping statements about all new builds. They suit some/many people very well
    • goodwithsaving
    • By goodwithsaving 5th Jan 18, 5:59 PM
    • 825 Posts
    • 1,265 Thanks
    goodwithsaving
    The house has wide hallways and staircases plus high ceilings. It is not small at all and far bigger than a lot of older homes we viewed .
    Originally posted by Lizbragg33
    Might depend on whether you're at the lower end of the market or not.
    Every time you borrow money, youíre robbing your future self. ĖNathan W. Morris
    • Lolly88
    • By Lolly88 5th Jan 18, 8:10 PM
    • 311 Posts
    • 830 Thanks
    Lolly88
    Why do people apologise for putting posts that might have been on before?
    Originally posted by NineDeuce
    Because they realise they could have searched the forum and got their answer from an already existing thread. Thereby saving people time and energy from replying to a question that might have been asked and answered numerous times. People are willing to help and offer advice but it gets tiresome when it's something that comes up a trillion times and can easily be found on the forum but the person hasn't bothered looking which is why on some forums some posts are made a sticky or there is an FAQ section. I'm not saying this thread is one of those, just simply answering your question.
    House Fund - £35078.21
    Currently buying a house
    • Davesnave
    • By Davesnave 5th Jan 18, 8:26 PM
    • 25,330 Posts
    • 93,125 Thanks
    Davesnave
    I bought a new build house last year and absolutely love it......

    The house I bought was with a smaller construction company not one of the bigger ones. .........
    Originally posted by Lizbragg33
    I agree that a new house from a smaller builder could be a very good option. There's a company local to me with an excellent reputation for building one offs and small developments, but their houses don't tend to be in FTB territory. Certainly, the three they built recently in my village didn't hang about at the advertised prices. Good houses have always been built for those who can afford a little more.

    Quite sweeping generalisations are also made about earlier 'period' property. These too had builders of variable quality; the Victorian and Edwardian eras being times of great speculative development in many cities.Those in the know may even avoid buying on one side of a street, because experience has taught which of two builders did the better job 100 years ago.

    My last house, a classic 30s semi-dee, was not built well either, but how could it be when the money had been spent on land, giving it a huge garden and a wide avenue in front?

    I'd guess that 1/3 land, 1/3 materials + labour and 1/3 profit has always pertained.
    If you are finding huge gaps between your paragraphs and use Firefox, MSE know about the problem. However, they aren't necessarily doing anything about it yet....
    https://forums.moneysavingexpert.com/showthread.php?t=5844460
    • Mutton Geoff
    • By Mutton Geoff 6th Jan 18, 2:56 AM
    • 1,139 Posts
    • 1,243 Thanks
    Mutton Geoff
    Don't forget, today's shoddy new build is tomorrow's well constructed older house.
    Originally posted by LandyAndy
    Although Iím sure OSB wonít be lasting 50 years unlike the millions of brick built inter war houses that cover the country that are now 80 years old and going strong. 100 foot gardens too although the driveway and garage more suited to an Austin A30 than an Audi A3.
    Compensations/Refunds from Banks & Institutions - £4,165 | Stooz Profits - £7,636 | Quidco - £4,014

    All with a big thank you to Martin and MSE.com from Mutton Geoff!
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