The pros and cons of buying a new-build property

barcan + kirby

Barcan+Kirby offer their advice on buying new

New-build homes are not only a great way to get on the property ladder, but can also provide further investment for existing homeowners. Abi Harrison, New-build team leader at Barcan+Kirby discusses the pros and cons of buying a new-build property.

Pro: Everything is new
When you move into a new-build home, everything is built to 21st century specifications, so not only will you have no major repairs for the first few years, everything will be more energy efficient than if you were to buy an older house.

Con: Buying off-plan
If you buy your home off-plan, meaning you agree to buy before it’s been built, you’ll only be able to see your home through plans and brochures which may end up being different to what you imagined. The show home may have sparked your interest, but be aware that it’s only there to entice you, so use it as a guide only as it may be nothing like what you’re buying.

Pro: No ongoing chain
As you’re moving into a new property, the sale chain will be much shorter as you won’t have to wait for the previous owners to move out. Bearing that in mind, the exchange of contracts will be around 28 days or less, so if the property is complete, you may be able to move in less than a month after your mortgage has been approved.

Cons: The snagging list
Before you complete on your brand-new home, you’ll have to complete a snagging list. This means you’ll have to highlight any problems you find so the developer can rectify them before you move in. If they are small problems, such as scratches in the wood, these can be fixed relatively quickly.

For further information on buying a new-build property, call Barcan+Kirby on 0117 325 29 29

 

 

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