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The Benefits of Buying a Newer Property

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By : James Hardy    99 or more times read
Despite the current tricky financial climate, new properties are still being built in abundance. In fact, it’s estimated that an additional 5 million new homes will be constructed by 2027. This, of course, provides a wealth of choice for buyers, but what benefits can you expect when buying a newer property?

  • Cash Incentives: This is a major consideration for most buyers. Builders are obviously keen to sell their new builds, therefore will offer a range of deals, including the payment of the deposit or stamp duty, and even cash towards mortgage payments. The housing market is awash with these deals towards the end of the financial year, when builders/property owners want to move sales on quickly. However, always be aware that you will no doubt have to pay out this money first, as it is generally only redeemable upon completion of the sale.

  • Part Exchange: The process itself sound relatively simple, if you are having problems selling your house, or simply want to move quickly, then part exchange could be a good option. The seller will arrange for a valuation of your current house, then they will offer you a percentage of its market value. It can be very beneficial – you may even be able to pre-pick a plot on a new development, and reserve a new property price using this option.

  • All Inclusive Deals: Again, this can be an attractive proposition for buyers, especially those purchasing their first property. Many companies now include fitted kitchens and appliances in with a sale e.g. a built-in cooker, fridge freezer, dishwasher and washer/dryer. The process of purchasing these appliances can be very expensive in itself, so it could be a welcome benefit. Bear in mind however that you will no doubt pay a higher premium for this option.

  • Repairs & Maintenance: Generally speaking, you should expect less repairs and maintenance when you move into a new build, compared with older properties that may have multiple age-old issues. You shouldn’t have to worry about paying for new heating systems, faulty electrics or replacing windows/doors when buying a new property, this can save a lot of money, time and hassle.

  • Running Costs: At a time when fuel bills are on the rise, everyone is looking at ways to reduce their power bills. Generally speaking, newer houses will incorporate features such as insulation and double glazing as standard. Some may also offer you the chance to use solar power, a ‘greener’ and cheaper way to run your home. As well as the initial purchase cost of a house, ongoing bills will have a major impact on you, so the opportunity to reduce these costs can be a very welcome prospect indeed.

In summary, there are many benefits to be had when buying a newer property, and many buyers won’t even consider viewing older houses. It all comes down to your personal requirements, and taste. Before you jump into a purchase, assess your options fully, and if possible, view a wide range of properties, old and new. This will give you a better understanding of what you want, and how you will best benefit financially.
Before buying a new home you might want to visit this website: Buy my house fast.

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