Why should you buy a new build home?

The Harvey Homes team has looked closely at the Home Builders Federation’s (HBF) latest reports and has found some interesting data to show why buying new build homes can save you money, time and, maybe, your sanity! 

And of course, if all these reasons don’t persuade you then there’s also the rather wonderful fact that a new build home is just that – it is new. It has never been lived in before, never been smeared with sticky fingers or been subject to strange renovations, meaning that you can move in and make it your own immediately. It is your home and no one else’s, which is a rather special position to be in. 

So, why should you buy a new build home? Check out our top seven reasons why buying new is the way to go!

1.     Avoid Hidden Costs. 

HBF’s ‘Get on with Living report’ from February 2023 found that ‘The second most common reason for choosing a new build was low maintenance, with 41% claiming that would encourage them to buy new. Given the time-limited and cost-conscious way consumers now live, it’s unsurprising many would see the appeal in a new, easy-to-care-for property.’ 

It's no secret that the costs of renovating a home can quickly mount up. Once you start a project, sometimes the costs start spiralling and problem after problem is found that must be fixed. This can include everything from rewiring and new guttering to the installation of bathrooms, kitchens, and new windows.

HBF’s research into the expense of renovating ‘existing’ properties found that an ‘average 3-bedroom semi-detached home would cost £61,489.30 to upgrade. When including exterior rendering and guttering, this figure increases to a budget-breaking £73,271.80.’

Here at Harvey Homes, we feel like these eye-watering figures alone should be enough to convince anyone to buy new!

2.     Energy-saving features

In today’s energy-conscious world, the vast majority of homebuyers want to know that they are not adding to their carbon footprint while they are choosing their new home. 

Sites like Rightmove now list the energy efficiency of their listings so it’s clear to see how important this factor is to homebuyers. 

Just like Harvey Homes’ properties, most new build properties are built with energy efficiency in mind. We use the most innovative techniques for our building processes and ensure every house is kitted out with the latest smart technology. 

Demonstrating the difference this can make, the Home Builders Federation’s (HBF) ‘Watt a Save’ report from July 2023 found that ‘as of December 2022, 85% of new build properties were receiving an A or B EPC rating’. This is a huge figure compared to the paltry ‘4% of older properties’ receiving the same rating. 

Energy-saving measures aren’t just for the eco-conscious among us, it can also have a huge impact on your wallet. 

The same report from the HBF also analysed energy performance data for new and older properties. This found that ‘energy bills for new homes are on average 55% cheaper, saving households £135 on monthly running costs. This saving rises to over £180 per month for purchasers of houses, rather than flats or bungalows, totalling £2,200 a year.’

Further to this, there are likely to be more hidden costs for property owners of older homes as they may be required to make costly, time-consuming, and disruptive retrofit measures to get their homes up to more modern standards. 

New build homeowners won’t have to face this issue as their homes were built to be energy efficient from the start of construction. Some examples of this include Lower CO2 emissions, double glazing, efficient boilers, water-saving systems and quality insulation.

Unsurprisingly, a survey by HBF in February 2023 found 53% of the population would be drawn to new build homes because of the lower utility bills and running costs. 

3.     Building quality

More stringent regulations mean that new build homes have to be built to a better standard than their predecessors. While the oddities and history of old homes can add to their charm, it does come with risks about how safe and secure they are. Building standards these days are so much higher, meaning the homes are built to be much higher quality as well.

These standards are improving all the time, which means that the quality of new build housing stock across the UK is only going to improve. 

An example of this is The Future Homes Standard that was announced in July 2022. This new standard will ensure that new homes built from 2025 produce 75-80% less carbon emissions. This is of course great for the environment but it’s also great for homebuyers as they will save on their utilities and have peace of mind about the quality of the building works. 

4.     Speedier moving

Buying a new home is often thought to be one of the most stressful life experiences. It comes as no surprise then that the cancellation rate for the purchase of second-hand homes is thought to be as high as 20 per cent. This could be because a private buyer or seller has simply their minds, there might be a bad survey, a chain has fallen through or someone’s been ‘gazumped’.

Unsurprisingly, this same cancellation rate drops to single figures for the purchase of a new home. These transactions are usually direct with the developers, who are much less likely to change their minds halfway through a sale.

Often with a new build house, you also won’t have a buyer's chain to deal with. This means much less hassle and simplicity, especially as your transactions are done with people who know property and know how to deal in it.

You could be unpacking those moving boxes before you know it!

5.     Perfect no matter your situation 

New build homes are often ideal choices for homebuyers, no matter your situation. 

They suit young families because they don’t then have to deal with disruptive work and renovations in the house, while retirees like the ease of new appliances, hassle-free living and reduced monthly bills.

6.     Design choices

When you’re considering buying a new build home, the design and interior of it must be a factor. When buying off-plan you can usually have a say in the interior design and finishing touches, with the added bonus that the developer usually works with an interior stylist who can advise you. 

You can customise flooring, work surfaces and cabinetry and even choose specific furniture packages. This means that you get your new home to be exactly how you like it – no compromises required. 

7.     Added protection 

Added protection is always a good thing, and this is exactly what you get when buying a new build home. All new build homes are subject to 10-year home warranties, and they must meet certain regulations and consumer codes. You simply don’t get these with second-hand homes. 

Are you considering why you should buy a new build home? Speak to the Harvey Homes team today and find out how we can help you!