Whether it’s your first time buying a property or you’re an experienced property developer, the decisions that come with finding the right house can be overwhelming. If you are at the beginning of your buying journey, your first big decision may be whether you are going to go for an old build or something brand new.
To make the process slightly easier, Graham & Co. have compared the key factors we believe to be most important when making the decision of new or old.
|Make it your own – new build properties are easy to customise as they are typically designed to be a blank canvas ready for personalisation. If you purchase the house before construction, you can ensure the property will suit your needs and design preferences.
|The cost – typically, new builds are considerably more expensive than older properties due to their premium features. So, while you may save money in bills, the initial investment is likely to be a lot greater and take longer to save for.
|No need to vacate – as the property is newly constructed, there will not be any delays in moving in caused by previous tenants, which is often the case with old builds.
|Be prepared to wait – due to common construction delays, it is likely that you will experience setbacks when waiting for completion of your new build property.
|Save your pocket and the planet – new builds are designed to be energy efficient, with double-glazing windows and polystyrene filling. This means heating bills will be kept to a minimum while you conserve maximum energy and reduce carbon impact as a result.
|Lack of character – As new build properties are usually built en mass, many turn out looking almost identical to one another. For this reason, if you are looking for something that will stand out from the crowd, a new build property may not be for you.
|Houses to suit all budgets – old builds come in all shapes and sizes, and without the premium incurred with new builds, it’s easier to get more for your money in terms of space and construction quality.
|Ongoing investment – while the initial price of an old build may be more affordable in comparison to a new build, there is likely to be more labour that needs to be done in order to keep the house in working order.
|Better ventilation – a drawback of new builds being so well insulated is the possible discomfort during hotter seasons due to the retained heat. Rooms in old builds are usually bigger and more spacious, leading to better ventilation and air flow.
|Wear & tear – old builds typically have more character and history; however, it is unlikely that it will stay in pristine condition as a result. The construction is likely to show signs of needing upkeep and prime features of the property are more liable to breakage.
|Find your dream home – unlike new builds, older properties are filled with character and originality, and the features you most desire are likely to already exist in an old build. Alternatively, you can renovate a property to your exact wants and needs.
|Heating costs – old builds are renowned for inefficient and tired heating systems that leak heat and often take longer to warm up. It is worth considering replacing this when you first move into the property however this is going to be a large upfront cost.
Let Graham & Co Help You Decide
Now you understand the essential factors to consider when deciding between a new and old property, contact Graham & Co. to take the next step in your buying journey.
Our property viewings are still going ahead; however, we have adhered to government guidelines and enforced a strict socially distanced policy. We also ask that you wear a mask for any viewings, both for your own safety and the safety of those around you. Find out more about our COVID-19 policy here.