New property – The pros and cons

The idea of a brand new home is tempting. You pack your stuff, you move in and voila, done!

Statictic suggest that every year there are approximately 160,000 new home being built across the UK. This means there’s a high demand, and that you have plently of choices. However the question is, should you buy a new property? We have composed a list of pros and cons below to help you see both sides of the stories.

The Pros

1. Customisable
   You can have your home customised before the construction work is done. So everything from the color of the walls to the materials of the floor to the type of worktop for your kitchen can be personalised for you.
2. No need for renovation
   When you buy an old property, usually you want to change things here and there to turn it into something you. With new constructions, all those works are done for you so you won’t have to lift a finger.
3. No maintenance cost for the first few years
   With everything from heating, plumbing to appliances being brand new, you probably won’t need to worry about maintenance for the first few years.
   
4. Modern
   New home usually come with design or layout element that is high on demand today such as open space, kitchen island, walk-in closet…
5. Energy efficient
   New homes use newer construction materials and should normally come with double glazing by default. This means that new built homes are normally more engergy efficient and cheaper to run than older homes.
6. In compliant with modern building regulation
   New built homes adhere to modern building regulations including  structure, fire safety, insulation, ventilation, sanitation, drainage and waste disposal.

The Cons

1. Can cost a lot more than planned
   Just like buying a car, the price difference between the basic model and the model that you want can be big. Adding extra features and annemities can make the home cost a lot more than you planned.
2. Small size
   Usually new homes are built on much smaller lot than older homes, this means smaller rooms and lack of storage space
3. Far from everything
   New developments are usually located in areas that are far away from city center, school, shops… Instead it’s possible that you’ll live next to other construction zone for a while
4. Less charming neighborhood
   If you are looking for charming tree lined neighboorhood, you will be disappointed. Most likely it won’t be there for many years to come.
5. Garden
   If you are lucky enough to have a garden, it’s most likely will be filled with poor soil which will be very difficult for plants to thrive.