Why do so many people prefer to buy new rather than second-hand homes?
Buying new doesn’t just mean a fresh start in a bright, untouched new home – it means stylish and modern fitted contemporary kitchens and bathrooms, often with your own choice of finishes, and far higher specifications than most older properties including central heating and double glazing.
And because new homes are much more environmentally-friendly and energy efficient than the average second-hand property, buying new can mean saving hundreds of pounds per year on energy bills.
David Pretty CBE, chairman of the New Homes Marketing Board, said: “House prices have fallen by about 20%* and new home prices are now in line with the second-hand market - there is no ‘brand new’ premium for the time being – so buying new is even better value.
“The fantastic choice and the range of deals and assistance available from new homebuilders are simply not available when buying second-hand homes because the vast majority of individual vendors and their estate agents are just not in a position to offer them.”
He added: “The help many housebuilders can give with deposits or Stamp Duty, with discounts, part exchange and a whole raft of other benefits – very often, these are what make the difference between people being able to buy at all.”
Buying new can also save a great deal of stress. With less of the dreaded housebuying ‘chain’ to worry about, and trained staff to help you every step of your move, the whole process of buying new is a simpler experience than buying second-hand.
In fact, there are currently thousands of show homes across the country, each manned by trained staff who can take potential customers through a purchase and advise on mortgage deals and legal requirements as well as the range of homes they have to offer.
Of course show homes allow prospective purchasers to browse at their leisure and understand what their new home will look like. And as show homes are usually decorated by professional interior designers, they offer real lifestyle inspiration to visitors.
And finally, new homes come with the peace of mind of a ten-year warranty, which gives comprehensive protection against a number of eventualities such as structural defects.
*Source: Figure is an estimate from the Halifax house price index from market peak in Autumn 2007 to July 09.
New Homes Week 12-20th September 2009
See Also: Property News (6680), Stamp Duty (25), New Homes Week (7)
Date Published: 11 September 2009
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