What does New Build mean?
If you’re currently on the hunt for a new home, you may have seen the phrase ‘new build’ pop up time and time again. A new build is a type of property that has recently been constructed and has never been lived in before. New build homes come in all shapes and sizes: flats, terraced houses and detached.
There are several benefits to purchasing a new build property that you don’t get with other homes – especially if you are a first-time buyer. This is thanks to the government’s First Homes scheme, which enables eligible people to purchase a new build for 30% to 50% less than its market value.
As a side note, not all new builds are included in the First Homes scheme, so you’ll need to check with your developers in your area.
Beyond this, new builds offer several more advantages over second-hand properties. They are equipped with modern features like triple-glazed windows, insulation and white goods like dishwashers. They also tend to be much more energy efficient than older homes.
Plus, if you purchase your new build home off-plan, you’ll have the opportunity to customise the property to your liking, choosing fixtures and finishings to your taste.
Given all the benefits of new builds, it’s no wonder that they are soaring in popularity. The market space has become highly competitive, and developers often have long waiting lists of individuals vying to reserve a limited number of properties.
If you’ve set your heart on a new build home, the best thing you can do is contact a conveyancer as soon as possible. We help you navigate the purchasing process quickly and efficiently, so you can move into the first home of your dreams. Find out more about our new build services here.