Why your new home will save you money
There are many good reasons to purchase a brand new property; the ten-year NHBC warranty that provides peace of mind. A blank canvas for you to decorate, however you wish. A helping hand just a call or email away should you need it in the first few weeks as you settle in.
Did you know that a new build home will also save you money?
In fact, research suggests that a new home is as much as 40% more energy efficient than a ten- year old property and a whopping 70% more efficient than a home built pre-1990.
That’s because modern methods of construction are specifically designed to ensure the insulation integrity of new homes. This means that basic issues found in older homes, such as unlagged pipes and hot water tanks, are eradicated from the build due to super-smart design, fabrication and materials. This includes heat loss through areas such as the roof, windows and doors.
But that’s not all.
By purchasing a brand-new home you’ll also save substantially on renovation costs. That’s because if you buy an older property, and then decide to re-model the kitchen or bathroom, you could end up needing a budget of thousands of pounds to cover the cost of labour and materials. With the average kitchen replacement cost currently circa £8,000, and the average bathroom refurbishment costing between £2,500 and £6,000, it’s easy to see where the pounds go. So, unless you’re able to re-mortgage your property in order to release the cash to pay for your grand design, then buying a stunning new home where all the work has been done for you could not only save you a lot of time and aggravation, but money as well.
There’s one final way that you may be able to save yourself some hard-earned cash by buying a new home rather than an existing property.
If you decide to use a Part Exchange scheme rather than selling your home via an estate agent, you’ll save yourself a fortune on estate agent’s fees. These are typically around 1% of the selling price of the property. With the current average property value of £214,922 according to mortgage lender Nationwide, by the time you’ve factored in VAT as well, that’s a saving of £2,579. This is a great saving in itself, without removing the stress of having to sell your property the conventional way, dealing with buyers and potentially a chain, which for some movers is priceless.
A hassle-free move? That actually saves you money? Yes, it really is possible!