New Build vs Renovation: How to Choose Your Best Property Fit in 2023
If you are looking for a new home in 2023, you may be wondering whether to buy a new build or renovate an older property. Both options have their advantages and disadvantages, and the best choice for you will depend on your budget, preferences and lifestyle.
We explore the advantages of buying a new home vs renovating an older property, to help you decide which one best suits you and your family.
Advantages of buying a new build home
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Moving into a finished new property, full of brand new appliances, fresh paint and no work to do on the property is precisely the reason why most people choose a new build over renovating an older property.
Which option is right for you will come down to your lifestyle, skills and how much time you can dedicate to renovating your home.
Yes you can still customise a new build to your liking. If you’re reserving during the off-plan phase, there is still some flexibility to choose the fixtures, fittings and appliances that suit your taste and needs.
At Brookworth Homes these features are included in every build so you will already be set up when you move in. The best part of this, is that all of this will be included in the agreed purchase price so you won’t have to budget for renovation costs later on.
New build properties often have slightly less restrictive and time consuming chains, as purchasers are the first to move into the property. Whereas lengthy chains on secondhand homes are common and can cause delays to move in dates as those in the chain wait for transactions to complete.
At Brookworth Homes our experienced sales teams are with you every step of the way during your home purchase ensuring the process runs smoothly and is as enjoyable and stress free as possible for you - they will even greet you on your doorstep on moving in day to check everything goes well.
As well as developer incentives such as Stamp Duty paid, Government schemes such as Shared Ownership are only available on the purchase of a new home.
These financial schemes and incentives can significantly help purchases, in particular first time buyers, who are looking to take their first steps onto the property ladder and who may be struggling to raise a deposit.
All new build properties come with an NHBC Buildmark warranty which provides 10 years of protection against structural problems and, in addition to this standard, we provide a comprehensive warranty cover for the first two years from completion.
All new build properties are designed to meet the latest standards of energy efficiency and sustainability. Therefore they have better insulation, ventilation, heating and cooling systems than older properties, which means lower energy bills and a reduced carbon footprint.
There is no denying that the process of buying a home can be time consuming and has the potential to be overwhelming. That's why reserving a property off-plan, before it has actually been built, can make all the difference to your moving experience.
You can find out more about the benefits of buying off plan with Brookworth Homes in our article Why Buying Off-Plan Is The Smart Choice For Your Next Property.
Advantages of renovating an older property
One of the main benefits of renovating an older property is that it can increase its value and appeal. By making improvements and upgrades to an existing home, you can enhance its functionality, comfort, and aesthetics.
You can also add features that suit your needs and preferences, such as an extension, a loft conversion, or a conservatory.
On the other hand, new homes are often easier to secure a mortgage compared to secondhand homes, with brokers more willing to lend on properties that are in good condition and meet the latest building regulations.
New homes such as those at our Brookworth Home developments also retain their quality and appeal over time, and therefore can attract more buyers who are looking for a stress-free move. This means competition to purchase can be fierce - great if you are looking to sell at a later date.
Another advantage of renovating an older property is that you have a wider range of properties in different locations, styles and sizes to choose from.
You can also decide how much you want to spend and how much you want to change. You can also decide to do the renovation yourself or hire professionals to do it for you.
At Brookworth Homes we believe in giving our new homeowners plenty of options to choose from. Whether it’s the style of property, the design of the internal layout or the external finishes, we understand how important it is that your new home feels perfect on moving in day. Our expert sales teams will be on hand throughout the buying process to ensure everything is exactly how you wish.
Some people may prefer renovating an older property because it has more character and charm than a new build. Older properties may have more history, personality and uniqueness than new builds, which may make them feel more homely and cosy.
Older properties may have more architectural features, such as original fireplaces, stained glass windows or ceiling mouldings. But at Brookworth Homes we carefully select exceptional external architectural features to complement the local area and some of our homes offer built-in fireplaces, striking the perfect balance between traditional and contemporary.
Our attention to detail and the specifications we incorporate into the design and build of our properties has resulted in a reputation for creating unique, luxurious homes which surpasses those offered by other house builders.
It is often cited that newly built homes tend to be smaller than older properties, with less floor space, compact gardens and limited, if no, off-street parking.
However, at Brookworth Homes we pride ourselves on building properties that are spacious and have a traditional feel, despite being new. Gardens and off-street parking are also taken into consideration within our developments and form an integral part of the design of our homes.
You can read more on how we do this in our article Living the Good Life: Open Plan Living and Gardening for a Healthy Home.
We hope this comparison guide to the advantages of buying a new build property vs taking on a renovation project has been helpful. But if you still have questions, in particular about any of our new build developments, please contact the Brookworth Homes sales team who will be happy to help.