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New developments are becoming increasingly popular across the UK. In fact, during the 2022/2023 fiscal year, over 210,000 new homes were built, with new developments especially favoured by first-time buyers. But why are new build homes becoming so popular?
New build homes are becoming more popular for homebuyers for a number of reasons, including:
Keep reading to learn more about the benefits of buying a new build home.
As the first owner of a new build home, you will be taking advantage of one of the key benefits of purchasing a fresh property: your new home will require minimal repairs or renovation work when you first move in. Furthermore, if you look after your new home, the value of the property should appreciate with time, making it a great investment if you are looking to move up the property ladder. Alternatively, you may decide not to sell but tap into the growing equity within the home due to the rising value.
Many first-time buyers favour new build homes, not just because they are a smart investment choice, but also because they are a blank canvas for decorating. As no one has lived in a new build house before, you can choose to design and decorate as you wish.
Furthermore, new builds have no upwards chain, making the entire process of buying much simpler and reducing the risk of any delays or complications during the sale. Most new properties will also come with white goods already fitted, thus saving first-time buyers on another expensive aspect of buying a house.
Learn more about how first-time buyers can get onto the property ladder by reading our detailed blog here.
New build homes are constructed using modern building techniques and materials, meaning their energy efficiency is typically far higher than older homes. This improved energy efficiency will help to keep monthly energy bills low, and make your new home a more attractive option for future buyers if you decide to sell.
Combining improved energy efficiency with smart home technology, which has become a prominent feature of new homes, means that you have greater control over your energy usage and security. Aspects of your home’s security can be controlled remotely using smart home technology, maximising convenience.
When you purchase a new build home, you will typically be covered by a warranty for any structural issues over a period of 10 years. Any structural issues that occur in your home can cost thousands of pounds to repair, so being protected by a warranty will ensure that you will not have to cover the cost of any major unexpected repairs.
If you are interested in purchasing a new build home but are struggling with the financial commitment, the Shared Ownership scheme may be the ideal solution. By purchasing a share in a property, your initial deposit is far lower than buying a property outright. You can then increase your ownership of your home by purchasing additional shares at a later date.
Browse properties available for purchase via the Shared Ownership scheme here.
Purchasing a new build home has numerous advantages, especially for first-time buyers. Browse our range of stunning properties online today, or contact our team to learn more.
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