Does a brand-new property fill you with hope and excitement or does your heart tell you to buy second-hand? There are pros and cons to both options, so let us dig deeper and find out which you should buy.
If might seem like a silly question, but it is worth defining what we mean by new build homes. Essentially, a new build is a property which has been built recently and never been lived in. The term is often associated with developments or new collections of homes, but a new build can be anywhere.
New build homes appeal to many types of buyers for several reasons:
Quite simply, a second-hand home has been lived in before. These properties may be just a few years old or built centuries ago.
The category of second-hand homes is huge and varied, but there are many advantages that draw buyers, including:
There are no firm rules determining what type of property a buying group should choose: it is down to personal preference. However, first time buyer schemes and other government incentives mean new homes tend to be popular with people buying their first property. Younger buyers including families also choose new build properties for their convenience, low maintenance and running costs.
Those seeking an investment property or something with more space/character are more likely to choose a second-hand home.
We have put together a table to compare the pros and cons of new builds vs second-hand homes to help you see which may suit you best:
| Feature | New build homes | Second hand homes |
| Energy efficiency | Energy efficient and cheaper to run | Less energy efficient |
| Space | Can feel compact | Often more spacious |
| Design | Modern design and layout | Varied |
| Style | Limited | Varied |
| Character | Likely to lack character | Can be interesting, unusual or characterful |
| Location | Potentially unestablished | Established neighbourhoods |
| Price | Higher premiums but government schemes may be available | Dependent on property |
| Maintenance | Low maintenance | May require more work/expense |
| Buying process | Chain-free and uncomplicated | Can be complicated by long chains, surveys etc. |
| Gardens | Likely to be small | May offer more space |
| Opportunity to add value | Minimal | Potentially |
The choice is yours! There are so many different types of property available, it really is up to the individual buyer, their preferences and budget. Have a look at what is available in your search area and weigh up the pros and cons for yourself. You may be surprised to discover your dream home is actually a new build… or that after careful consideration, a second-hand property ticks all your boxes. Remember, if you fall for a second-hand property but want the best of both worlds, there are steps you can take to turn it into a ‘smart home’ and make it feel more up-to-date.
Whether your heart is set on a new build home or you would like to look at old properties for sale, we are here to help. At Charters, we help buyers discover and purchase their dream homes. Please get in touch to find out more.
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