Why first-time buyers are choosing new builds
For many buyers, taking that initial step onto the property ladder is a major milestone, but it can also feel overwhelming.
With rising house prices and fierce competition in the market, you might wonder where to begin. Lots of first-time buyers are turning to new builds as the answer. But why? Here, we explore some of the benefits.
Support through government schemes
Government schemes like Help to Buy have made new builds an attractive choice for first-time buyers, opening up the possibility of purchasing with just a 5% deposit. Even as that particular scheme winds down and is no longer available in England, new initiatives like shared ownership and first homes discounts are emerging.
These programmes often prioritise new builds because they help regenerate communities and meet modern housing demands. When you choose a new build, you’re more likely to qualify for these opportunities, giving you a head start in a competitive market.
Financial incentives and developer offers
Many builders cover costs like Stamp Duty or legal fees, easing the financial burden of your purchase. Others include incentives such as upgraded interiors, appliances or landscaping packages at no extra cost.
Some developers also offer part-exchange schemes or deposit contributions to make the buying process smoother. These benefits aren’t always available with older properties, where you may need to budget for costly renovations or repairs. When you purchase a new build, you often move into a finished home without worrying about hidden costs.
Energy efficiency and long-term savings
Modern homes are built to higher standards, using better insulation, double glazing and efficient heating systems. These features keep your home warmer in winter and cooler in summer, reducing your bills.
Many new builds include renewable energy technology, like solar panels or air source heat pumps. Over time, these innovations translate into significant savings, especially as energy prices continue to rise. A more efficient home has a smaller carbon footprint, allowing you to live more sustainably.
In comparison, older properties often require expensive upgrades to meet similar energy standards. Buying a new build lets you enjoy these benefits from day one, giving you peace of mind and reducing long-term maintenance costs.
Navigating the new build purchase process
The process differs slightly from purchasing an older property, but it’s often more straightforward. You typically reserve your home early in the construction phase, allowing you to customise aspects of the design, like flooring or cabinetry. Developers usually work with trusted solicitors and mortgage advisors, guiding you through each stage.
Once construction is complete, you’ll carry out a ‘snagging’ inspection to identify any minor issues, which the developer fixes before you move in. This ensures your new home is in perfect condition when you receive the keys.
Unlike older homes, new builds come with a 10-year structural warranty, such as the NHBC Buildmark, providing extra security for your investment. This warranty covers structural defects and gives you confidence that your home has been built to a high standard.
Take the time to explore your options, and you’ll find that a new build could be the perfect start to your homeownership journey.
