Here are five of the reasons why a new-build might just tick all of the boxes on your home-hunting list.
Energy-saving features
New homes can be up to four times more energy-efficient than a home that hasn’t been recently built. This is because they’re often kitted out with the latest energy-saving building materials and smart technology. And many achieve the highest EPC ratings of A or B.
Some new-build homes are eligible for purchase through various buying schemes. You can explore the current schemes, along with their eligibility criteria, by clicking here.
Shared Ownership
This scheme, offered by certain housing providers, allows you to purchase a share of a property while paying rent on the remaining portion. Shared ownership homes can include both new builds and resale properties within the scheme.
Help to Buy Wales Equity Loan
For new home purchases in Wales, the Help to Buy Wales Equity Loan scheme provides an option to buy with a 5% deposit and a 75% mortgage. The remaining 20% of the property value is covered by an equity loan from the government. However, home purchases under this scheme must be completed by March 2025. Note that the Help to Buy scheme is no longer available in England or Scotland.
Low-Cost Initiative for First-Time Buyers (LIFT)
In Scotland, the LIFT shared-equity scheme helps buyers purchase a percentage of a property (between 60% and 90%, depending on the specific LIFT option). The Scottish government retains the remaining share, making homeownership more accessible.
Deposit Unlock
Launched by the house-building industry, Deposit Unlock is a scheme aimed at new-build buyers. It’s available to both first-time buyers and those already on the property ladder who can provide a 5% deposit. The remaining 95% of the purchase price can be financed through participating lenders in the scheme.
These schemes are designed to make homeownership more attainable for buyers in specific situations, providing options that cater to varying financial needs and regional availability.
Design choices
When you buy a home off-plan, you can usually visit a development’s show home to take a look the interior design scheme. And you may have the opportunity to customise your own design by choosing things like flooring, work surfaces and cabinetry. This ensures your home is fitted out according to your exact specifications and taste. Many developers also offer a range of furniture packages to get you started.
No chain
Buying a new-build means you’ll be ‘chain free’, so you’re not waiting for a seller to find another home to move to before you can move in. If you find a new-build home that’s move-in ready, sales progress quickly, so you could be unpacking those boxes before you know it.
No renovations required
There will be no renovation work to carry out in your new home. So you can move in knowing everything is brand new, and many of your fixtures, fittings and structural works will be protected by guarantees.