The pros and cons of buying a new-build home

The property boom is taking its toll on renters who are going to ever greater lengths to secure a home.

That’s because a shortage of available homes is pushing up monthly rents and deposits, and sometimes leading to bidding wars.

For many renters, it will be even more vital to secure a home of their own, where they have the option of buying an existing property or looking for a new build property.

There are pros and cons to both, but new homes have some advantages including builders offering incentives like helping with the deposit, part-exchange if you are an existing homeowner, paying legal fees and stamp duty.

Depending on eligibility, it may be possible to benefit from Government incentives such as Help To Buy and a big bonus is there is no chain to worry about, so they will not be gazumped.

They appeal to homebuyers for any number of reasons including:

Some things to consider before the big decision:

For help and advice on matters relating to the residential property sector and new build homes, contact our expert team today.

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