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Home NewsLandlords NewsWhy you should choose a new build over a period property

Why you should choose a new build over a period property

To choose a new build or a period property is a debate for the ages and shows no sign of letting up. While the idea of a period property with all its inherent character may seem attractive at first, the charm of living in an old Victorian home steeped in history can quickly fade once you realise the challenges and cost of maintaining an older property.
It is because of these difficulties that a new build is so appealing to many prospective homeowners. Here are just a few reasons of what makes these modern new build properties just so attractive.

Lower running costs

If built correctly a new build will provide homeowners with much lower running costs and energy bills than their ‘characteristic’ predecessors. Modern builds tend to have better insulation, meaning draughty windows and doors are a thing of the past. These well-insulated newer properties mean energy bills are kept to a minimum, which is good news for both homeowners and tenants alike. In general, new build properties are much cheaper to maintain, with prospective buyers not needing to worry about whether the property’s roof will need replacing, walls replastered or foundation issues fixed.

EPC laws concerning older properties are changing in April 2018, take a look at our update if you think you may be affected.

Make it your own

Secondly, when buying a new build property, you can take satisfaction in knowing that you will be the first to live in it. This means you can achieve a real sense of ownership and really stamp your personality on the property, making it your own and designed for exactly how you live. And of course, if you buy off-plan, you will tend to have the satisfaction of seeing capital growth as the development nears completion.

Another bonus of new builds is that they offer home buyers a blank canvas in regards to design and decoration. If you purchase the property ‘off-plan’ before it is completed, you will be able to choose some fixtures, fittings and colour schemes according to your taste.  Of course, if the purchase is for buy to let purposes, we recommend keeping the interiors fairly neutral so as not to deter prospective tenants.

Learn more about tenant’s wishlist in our latest annual tenant survey.

Designed for life

Additionally, new builds with their modern designs often provide greater accessibility with features such as wet rooms and one-level living. This modern thinking in regards to interior design means newer properties are more suitable to those with a physical disability. Developers are continuing to integrate both environmental and corporate social responsibility factors into their developments in order to provide homeowners with a lifestyle that ticks all the boxes.

Today’s tenants want aspirational contemporary living, with great amenities and 24/7 concierge. New builds tend to include that five star living with hotel-like facilities on-site which is so in demand nowadays whereas older, period properties can indeed be charming but without high-spec facilities, today’s young professionals tend to overlook them.

Discover what makes the perfect property

Built to last

New build properties will come with a 10-year National House Building Council’s (NHBC) Buildmark warranty. Consequently, as a prospective homeowner you can feel secure in knowing that your new build home is built to a high standard and that the NHBC will cover any costs that arise due to failure to meet these standards during construction.

Similarly, new builds have to comply with all current house building regulations, such as the inclusion of smoke alarms, with high-spec locking, opening windows. burglar alarms, security lighting usually coming as standard.

Check if your rental property complies with current legislation

It is worth noting however that snagging should play an important part in your purchase of a new build, and prior to completion. Read more about the importance of snagging and the common areas we find issues with. If you would like to find out more about our specialist snagging service for new build properties, please visit our contact page.

Equally, if you are considering renting your new build property out, it is highly recommended that you employ the services of a property management company – even for a new build property. Appliance breakdowns can be one of the most frustrating situations for tenants and worth avoiding.

If our guide has whetted your appetite to purchase a new build property, discover the best the capital has to offer with our guide to buying a new build or our listings of new developments to rent in London.

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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 19 prominently located branches and 8 international offices.

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