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16 
May

New Build Vs Character Property

Sometimes the question of whether you should buy a new build property or opt for something Loft Conversionwith a little more age and character can seem like a never ending debate. And as Bolton builders we have had our fair share of these discussions. So when you are looking to buy a house, just what should you go for? Obviously there is a degree of personal preference here; some people can’t bare thought of living in somewhere that’s been lived in before, whereas some people just couldn’t cope without a feature fireplace. But if you’re somewhere between those two camps here’s some thoughts to take into consideration.

Cost

On average a new build property will cost at least 20% more for the same square footage than a resale property. New builds can also sometimes come with a lot of hidden costs that you don’t see when viewing the show home. For example the fixtures and fittings that you see there will only be included at increased costs and many new build homes do not come with floorings included or landscaped gardens. However there is the argument that money will be saved on the long run in maintenance costs, as new builds come with insurance backed guarantees.

Space

The 20% rule comes in here again with the average new build home being at least 20% smaller than homes built in the 1970’s. Homes erected forty years ago were typically built at around 12 homes per acre, whereas today new homes are often built at nearly 24 homes per acre. This can not only mean a reduction in the size of the living space, but gardens also tend to seriously suffer from the space squeeze. However is this really a problem if you’re not in the green fingered gang?

Ongoing Costs

There are many advantages to new build properties in terms of decreased ongoing costs and maintenance fess, even though your mortgage may be higher in the first place. As mentioned before new builds come with warrantees (although beware that these don’t always cover everything). Also new build homes have to meet much stricter rules regarding energy efficiency so your monthly energy bills are likely to be lower. However if you still have your heart set on an older property there are government backed schemes that can provide insulation etc at reduced costs to the homeowner.

So we’d say that at the end of the day choose that house the grabs your heart – and don’t worry Wisecraft Ltd is here to sort out any problems with it!

Published Date: 16th May 2016
Category: General

 

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