Why purchasing a new-build could save you money
In a previous article, we explored “New Homes And What First-Time Buyers Should Know.” Now, let’s delve into the compelling reasons why opting for a new-build property can lead to substantial savings. Purchasing a new-build home has many benefits that can keep your finances in excellent shape and provide long-term advantages. From cost-efficient features to potential incentives, here’s why choosing a new-build could be a wise financial decision.
Opting for a shiny and brand-new home may seem like an expensive choice at first, but the long-term benefits can save you money for new builds. Investing in a new-build property offers numerous advantages contributing to a healthier bank balance and reduced energy consumption.
Firstly, new-build homes often come with attractive deals and incentives from developers, making them more cost-effective upfront. These deals may include discounts, waived stamp duty fees, or help with legal expenses, helping to ease the financial burden of purchasing a property.
Moreover, new builds are designed with energy efficiency in mind. They incorporate the latest technology and construction materials to improve energy performance, lowering day-to-day running costs. Energy-efficient features such as double-glazed windows, superior insulation, and modern heating systems ensure reduced energy consumption, translating to lower utility bills over time. This benefits your bank balance and contributes to a more sustainable and eco-friendly lifestyle.
In addition to energy efficiency, new builds often come with warranties and guarantees, providing homeowners with peace of mind and financial protection against unexpected repairs and maintenance costs. These warranties typically cover structural defects for several years, saving you from potential hefty expenses that older properties may incur.
Another financial advantage of new builds is the potential for customisation. In some cases, developers offer buyers the option to personalise certain aspects of their homes, such as selecting finishes, fixtures, and layouts. This eliminates the need for costly renovations or modifications down the line, as the property is tailored to your preferences from the start.
Furthermore, new-build communities often offer modern amenities and recreational facilities within the development, reducing the need for additional expenses on memberships or commuting to access such facilities.
Overall, while the initial cost of a new-build property may seem higher, its long-term savings and benefits make it a wise investment for your financial well-being. Choosing a new build can lead to a more cost-effective and comfortable living experience, from reduced energy costs to financial incentives and peace of mind. As you decide, carefully consider the features and advantages of new builds, and consult with a professional real estate agent or mortgage advisor to ensure you find the perfect home that aligns with your financial goals.
New-builds come with cheaper bills
Newly constructed homes offer the advantage of cheaper bills due to their high energy efficiency standards, making them both environmentally friendly and cost-effective to heat and maintain.
Over 80% of new-build properties boast an impressive energy efficiency rating of A or B on their Energy Performance Certificate (EPC). In stark contrast, only a mere 4% of older homes achieve such high ratings on their EPCs.
The energy-conscious design of new builds includes features like condensing boilers, double or even triple glazing, top-notch insulation, and solar panels. These homes are also equipped with the latest energy-efficient appliances and heating systems, enhancing their eco-friendly attributes.
A study conducted by the Home Builders Federation revealed that new-build homeowners save an average of £2,600 per year in energy bills. Such substantial savings make choosing a new build an enticing proposition.
Beyond the reduction in energy bills, new-build homes also present the opportunity for lower overall running costs. With modern technology and eco-friendly features, homeowners can enjoy considerable savings while minimising their carbon footprint. Embracing a new build enhances your financial well-being and contributes to a greener and more sustainable future.
In conclusion, new-build homes offer a compelling package of benefits, from lower energy bills to reduced running costs, all thanks to their energy-efficient design and cutting-edge features. By choosing a new-build property, you can experience substantial savings while positively impacting the environment.
Save money on repairs with new-build warranties
New-build warranties offer valuable protection and potential cost savings for homeowners. The Consumer Code for Home Builders (CCHB) ensures that buyers are treated fairly and provided with comprehensive information about the property both before and after signing the contract.
When a home is constructed in accordance with the CCHB, it also comes with a housing warranty, which is typically valid for a duration of 10 years. While adherence to the CCHB is not mandatory for housebuilders, many choose to comply with it, as lenders often require them to offer mortgages against such properties. 
The housing warranty covers major problems with the construction of the home. Should any significant repairs be necessary, the insurance will cover the cost, sparing homeowners from unexpected financial burdens. This brings peace of mind and can result in considerable repair savings throughout the warranty’s duration.
Several prominent new home warranty bodies offer such coverage in the United Kingdom, including NHBC, Premier Guarantee, LABC Warranty, and Checkmate.
By opting for a new-build property, homeowners benefit from a robust warranty, safeguarding them from potential construction issues and providing financial protection for an extended period. As a result, they can enjoy their new home with confidence, knowing that any major repairs will be handled under the warranty’s coverage, leaving them with fewer financial worries and a more secure living environment.
Enjoying the peace of mind with minimal repair costs in the first few years
When you move into a sparkling new-build home, one of the significant advantages you can relish is the minimal need for repairs, particularly in the initial years of ownership. New-build properties are constructed with the latest specifications and adhere to high-quality building standards, ensuring that they are designed to withstand the test of time and require minimal maintenance.
Unlike older properties, which might demand immediate attention to fix wear and tear, new-build homes are equipped with state-of-the-art fixtures and fittings that are less prone to deterioration. Everything is engineered to be robust 
and reliable, from modern plumbing systems to cutting-edge electrical installations.
Furthermore, new-build properties often come with comprehensive warranties that cover structural defects and major issues, providing homeowners with added protection and financial reassurance. These warranties can extend for several years, offering peace of mind and protecting your investment.
As a new-build homeowner, you can rest easy knowing that your property is designed for durability and longevity, reducing the likelihood of unexpected repair costs during the crucial initial years. This lower maintenance level saves you money and allows you to focus on creating a comfortable living space without worrying about significant repair expenses. Embrace the convenience and cost-effectiveness of owning a new-build home, and relish its worry-free living experience.
Explore buying schemes for new-build homes
For aspiring homeowners looking to purchase a new-build property, several advantageous buying schemes are available to make the process more affordable and accessible. These schemes cater to various financial circumstances, making homeownership dreams a reality. Let’s delve into the details of these beneficial programs:
- Deposit Unlock: Deposit Unlock is an excellent option for first-time buyers and second-steppers seeking to acquire a new-build home with just a 5% deposit. 17 reputable house builders support this scheme, including industry leaders like Barratt and Vistry. Whether you’re interested in a house or a two-bedroom+ apartment, Deposit Unlock can offer valuable assistance in securing your dream property.
- Shared Ownership: Shared Ownership is a government-backed initiative that allows individuals to buy a share of a property from a housing association, a non-profit-making body dedicated to providing homes. This scheme allows buyers to own a portion of the property, resulting in a smaller required deposit and mortgage. Shared Ownership homes can encompass new builds, existing properties, houses, or flats, ensuring that a wide range of properties is accessible to potential buyers.
- Lifetime ISA: The Lifetime ISA is a government-backed savings and investment account available to individuals in the United Kingdom. It was introduced in 2017 to encourage long-term savings for two primary purposes: purchasing a first home or saving for retirement. The Lifetime ISA offers unique benefits and incentives, making it an attractive option for individuals looking to build wealth and achieve specific financial goals.
These buying schemes open up exciting opportunities for homebuyers, making new-build properties more attainable and financially feasible. By exploring these options, aspiring homeowners can embark on their journey towards acquiring a new-build home with confidence and ease. Take advantage of these schemes to secure your dream property and enjoy the many benefits of owning a brand-new home.
