With choosing the perfect place to call home, comes a variety of decisions to make. A major factor to consider is new build vs old house. But whether you want to invest in an old house or have a fresh start with a new build home, it’s all purely based on your personal preference.
Some people are immediately drawn to the charm and stability of an older house whilst others yearn for the blank canvas of a modern home. Then there are also some who have no idea where to start due to the endless amount of choices available to them.
There are pros and cons for both house types so Compare My Move has compiled a list of the advantages and disadvantages of both old and new build homes to help you decide exactly what you want. From the importance of a chartered surveyor to issues you need to look out for in both properties, we hope this guide will help make the choice easier for you when considering a new build vs old house.
If you're buying an older house, it'll have the perfect combination of being aged and weathered but with a strong and reliable charm. When you compare an older house to the new builds on the market, it seems to hold qualities that have since been lost in modern designs.
One of the major appeals of older houses is space. Rooms are, by comparison, generally more spacious in older homes despite often having lower ceilings. The garden space is also usually much bigger which often makes older homes more appealing to young families. Georgian properties are huge, so no need to worry about whether your furniture will fit in when the removals team arrive.
There is nothing quite like buying something brand new, especially when it comes to your property. There are many benefits of a new build home that you just don't get with an old house. There’s something satisfying about living in a home that no one else has lived in - being the first to take a shower, sleep in the bedroom, use the kitchen. It’s completely yours and yours alone.
Even if you're not the very first owner, you will still get that fresh, new feeling with a modern home. You will have smooth and even walls, no horrid Artex on the ceiling, lovely red bricks, a shiny front door and a chance to decorate your home exactly how you want to. It’s the perfect blank canvas to start your new life in.
Generally speaking, new build houses are often more expensive than older properties in the UK. For example, a one-bedroom old build house in London costs on average £137,000 less than a one-bedroom new build flat. Although old build houses are cheaper to buy, the owners often end up paying more for renovations
Data from Homes & Property
On the other hand, you'll save £629 on your energy bills in a new build home as they are extremely energy efficient. Old build houses do have a lot more character and unique features, but they often have big spaces that take longer to heat up, adding more to your bills.
Data from Home Builders Federation
It's always recommended to get a property survey conducted whenever buying or selling a property as it's vital you know the property's condition before the transaction is complete. There are a number of property surveys to choose from including a Homebuyers Survey, a Building Survey and a Snagging List for new builds.
If you're purchasing a property, you want to know what you're buying before you commit. A Homebuyers Survey is the cheapest out of the comprehensive surveys, perfect for modern houses under 50 years old. However, a Building Survey is far more thorough and is for unusually constructed properties or buildings over 50 years old. As new builds don’t generally need a survey due to the warranty and its recent construction, a Snagging List will suffice so that you get an idea of any issues that need fixing immediately before construction is complete.
Whichever survey you choose, the report will state whether or not the property is worth the asking price, saving you money in the long run as you can either re-negotiate the price to cover the repair costs or back out of the sale altogether. You need to know if you are financially capable of maintaining the building whilst you're staying there, ensuring it's a safe place to live now and in the future. Whether you choose an old or new build, a property survey can be vital in saving you from future costs and ensuring a safe home.
Just like any property, a new build home will be subject to value change. Depending on the location of the property and the features of the property, the house will likely decrease or increase in value over time.
If you make an effort to add value to your home with home improvements, then your new build will gain value over time. If you don't take care of your home, resulting in an unattractive 'curb appeal', this could decrease the value of your home over time.
We hope this guide has helped make your decision easier. Once you’re ready to move, get connected with Compare My Move and we’ll save you time and money by providing you with up to 5 RICS verified chartered surveyors. Simply, fill out our quick and simple form to get started today.