Buying a home is one of the biggest decisions you’ll ever make, so it’s no surprise that buyers have lots of questions before reserving a new build. Here are the answers to some of the most common questions we hear.
How long will a new build home last?
A well-built new home should last for many decades – often well over 100 years with the right maintenance. New homes are built to modern Building Regulations and usually come with a 10-year structural warranty, giving buyers extra peace of mind. While you may come across the notes that the structural lifespan of 60-100 years, this is the baseline mortgage providers use for lending calculations.
Will new builds hold their value?
Like any property, values can rise or fall depending on the local market, location, and demand. However, buying on a desirable development in a good area can make a new build a sound long-term investment. As developments mature and communities become established, many homeowners see their property’s value increase over time.
Can you reserve a new build without a mortgage?
Yes. You don’t need a formal mortgage offer before reserving a new build. Most developers simply ask for a reservation fee while you arrange your mortgage and appoint a solicitor. Having an Agreement in Principle before you reserve can make the process much smoother.
Are new builds quicker to buy?
They certainly can be. If the property is already built and ready to move into, there’s no onward chain, which removes one of the biggest causes of delays. If you’re buying off-plan, the overall timescale depends on the construction programme, but much of the legal work can be completed while your home is being built.
Are new builds warmer?
Modern insulation, double or triple glazing, efficient heating systems and high energy efficiency standards mean new homes are generally much cheaper to heat than older properties. Many also include features such as smart heating controls that make managing the temperature of your home more convenient.
Are new builds cheaper to insure?
Often, yes. Because everything is brand new – from the roof to the plumbing and electrics – insurers may view new homes as lower risk. Premiums can be lower than for older properties, although this will always depend on your individual circumstances and insurer.
What incentives can developers offer?
Many developers offer incentives to help buyers make their move. These can include:
- Flooring throughout the home
- Integrated kitchen appliances
- Stamp Duty contributions
- Deposit contributions
- Legal fee contributions
- Upgraded kitchens or bathrooms
- Part exchange or assisted move schemes
- Turf, patios or landscaping
The incentives available will vary depending on the developer, development and stage of the build.New
Can I choose my kitchen, flooring or tiles?
If you reserve early enough in the build process, the answer is often yes. Many developers allow buyers to personalise their home by selecting kitchen units, worktops, flooring, wall tiles and other finishes from a range of options. Once construction reaches a certain stage, these choices may no longer be available, so it’s worth reserving early if you’d like to add your own personal touch.
What warranties come with a new build?
Most new homes come with a 10-year structural warranty from providers such as NHBC or Premier Guarantee. In addition, developers will usually provide a two-year builder warranty covering defects and issues with workmanship. Always ask what warranty provider your chosen development uses and what is included.
Is buying off-plan a good idea?
Buying off-plan means reserving your home before it has been completed – or sometimes before construction has even started. It can be an excellent option as you’ll often have the widest choice of plots and may be able to personalise your finishes. You also have time to prepare for your move while your home is being built. The main consideration is that you’ll need to wait until construction is complete before moving in and build completion dates can occasionally change.
Thinking of buying a new build?
No question is too small. Whether you’re a first-time buyer, moving up the property ladder or downsizing, understanding the process helps you make an informed decision with confidence.
If you’re considering a new build home and have any questions, our team is here to help. We have several new developments across Norfolk and Suffolk so we’d be delighted to guide you through the buying process and help you find the perfect new home.
