New Build vs Old Build – Which House Should I Buy?
Posted on January 21, 2020
When it comes to buying a property you can call home, there are specific factors you need to consider. Whether to go for an old house or new build will be one of the key considerations. There are distinct advantages and drawbacks of each option.
If you are in a fix whether to buy a new home or an old property, Wright Residential can help. As your trusted property management company in Newcastle, we will work with you to find the home of your dreams.
Pros & Cons of Old Builds
Our estate agents in Newcastle discuss some of the benefits and downsides of buying an old build.
Benefits of Old Builds
- Spacious and well-ventilated – Old houses usually have bigger rooms that are well-ventilated. Many old builds also come with a large backyard or garden.
- Greater parking space – Period properties usually have extensive driveways and adequate parking space. Most new builds do not boast such features.
- Thicker walls – Older homes tend to have thick and solid walls constructed from stone and/or brick.
Drawbacks of Old Builds
- Expedited wear & tear – You may have to deal with leaks and damps in an old build because of the large-scale wear and tear.
- Costly upkeep – An old build, more often than not, is more expensive to maintain.
- Restorations – You may have to undertake heavy renovation to make your old build liveable.
Pros & Cons of a New Build
Our letting agents in Newcastle spell out the pros & cons of a new build:
Benefits of New Builds
- Easily customisable – Moving into a brand-new home is akin to drawing on a blank canvas. You get to design the entire property per your needs and preference provided you buy when your house is still under construction.
- Energy efficient – New homes tend to be extremely energy-efficient, thanks to the walls being insulated with double-glazing and polystyrene filling. Hence, a new build is not only cosier but also cheaper to maintain.
- Moving in is hassle-free – You can move into your new build immediately after construction is complete. You don’t have to wait for anybody to vacate the premises.
- Extended warranty period – The developer will offer an extended warranty (usually 10 years) on your new house. So, you won’t have to worry about fixing or repairing anything at least for the first ten years.
Drawbacks of New Builds
- Pricier than old builds – New builds tend to cost more than old houses.
- Construction delays and hold-ups – You may have to wait inordinately long before moving into your new house as the developer could delay construction.
- Substandard construction – Developers make generous use of plasterboards and breeze-blocks to keep costs under control. So new builds may not be as durable and resilient as the old ones.
- Lacks aesthetic appeal – Most new builds look quite similar and hence lack aesthetic appeal.
At the end of the day, whether you decide to buy a new build or an old property, it is a matter of personal choice. Nevertheless, carefully consider the pros and cons of both types of properties before taking the plunge.
Contact Wright Residential
With over two decades of experience, our veteran estate agents in Newcastle can help you find the right home. We’d love to hear from you. Fill in our contact form or call 0191 240 1818 now to schedule a consultation.