How a New-Build Home Can Save You Money

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New-build homes are renowned for their sleek design and mod cons but there’s a perception that by buying new, you’ll be paying over the odds. Indeed, the upfront cost of a new build can put off many home-buyers searching for their perfect property, however, in reality, many new builds can save you money in the long run.

Help With the Upfront Costs

The UK government offers help for first-time buyers looking to get on the property ladder through their First Homes Scheme. Under the scheme, first-time buyers can purchase a new-build home at 30-50% less than the market value.

You may also find that many developers offer incentives to help sell their new build homes, which might include free, top-of-the-range white goods or furnishings. Alternatively, they may offer to cover your conveyancing fees or stamp duty. Buyers looking to purchase new build homes should remember that they can also negotiate the price as they would with any other property, by putting in an offer.

Energy Efficiency

More often than not, new-build properties are much more energy efficient than older properties. This is partly due to the building materials and construction methods used, and also because the new-build houses have been designed and built with energy efficiency in mind right from the start.

New-build homes may use less water, by the inclusion of more efficient taps and toilets. They’re also more likely to have double-glazing, loft, floor and wall insulation already fitted, saving you the upfront cost of having these added or improved at a later date, as well as saving you money on ongoing energy costs.

Some new-build properties may also include energy-efficient appliances and alternative energy solutions such as solar panels or ground source heat pumps. You should try and use a sustainable electrical contractor such as SOS Synergy to make sure your home is as energy efficient and eco friendly as possible!

Minimal Maintenance Costs

As new-build properties are built with modern building materials using the latest construction techniques, they’re far less likely to need repairs or improvements. This can save you costly repair and maintenance bills and free you from constant DIY struggles. Many new-build homes also come with warranties that will cover you in case any issues arise.

Advanced Technology

New-build properties incorporate the latest technology, making many of them so-called ‘smart homes.’ This allows you to adjust your energy usage by monitoring and controlling the temperature of your home even when you’re not in it via your smartphone. You can also use smart plugs to switch appliances on and off remotely and set up automation to control the lighting and heating in your new-build home.

Lower Insurance Premiums

Even if your new-build property is covered by a warranty, you should still take out building and contents insurance to protect your home and belongings from untoward incidents such as burglaries or floods. The good news is that you will typically find your insurance premiums to be lower when covering a new-build home versus older properties.

Conclusion

New-build homes offer many benefits. They’re typically built in close proximity to conveniences such as schools and shops and often have good commuter links and designated driveways or parking spaces for residents. Unfortunately, many home-buyers may be put off purchasing a new-build property due to the higher asking price, however, when you consider the hidden costs of buying an older property, such as higher energy bills and insurance premiums, you may find that a new-build home can actually save you money in the long-term.