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VALUE MATTÂŁRS A new house or a second-hand property? The following pointers may help you make up your mind. Advantages of buying new
Advantages of buying second-hand Better bargains Second-hand houses are almost invariably cheaper than new build (all other things being equal). Buying from an individual often means you can negotiate on the price.
Fresh as paint One great advantage of a new build is - it's new! New houses are clean, fresh, and in pristine condition. They command a price premium simply because they're new. Think of it as a blank canvas on which to express yourself. If you catch the builder early enough you can often choose kitchen and bathroom fittings and sometimes agree changes to layout and specification. Peace of mind Make sure your builder is NHBC registered or that construction is supervised by a professional with adequate professional indemnity insurance. A 10year guarantee helps you sleep at night. Incentives Some builders are offering cracking incentives to purchasers. Stamp duty payment, part-exchange, shared equity arrangements, appliances, carpets and floor coverings - are all up for grabs. Don't be afraid to ask!
Price-holding In certain circumstances a second-hand property may hold its price better than new build. The premium on a new build house may not be achievable when you come to re-sell, particularly if new development is still on-going. Established surroundings With second-hand properties the surroundings are generally well-established and often there is a settled feel to the community. There can often be a better mix of household types in an established area. Whichever option you choose, do your homework well before taking the plunge!
Eco-friendly New houses come fully insulated and energy efficient, leading to reduced utility costs.
Douglas Mowat MRICS is a Chartered Surveyor with Harvey Donaldson & Gibson, Inverness. douglas.mowat@hdg.co.uk