They’re a bit like marmite with people either loving them or hating them but New Build properties certainly do have their pros.
Especially for first time buyers, new builds can be a great way to maximise your budget and help you get a foot on the property ladder. And you’ll often find, particularly here in Edinburgh, you can get more for your money too.
1. You can help design your dream home.
By buying a property “off-plan” (ie. not yet built) you can often have the option to choose and customise your home to your liking. You may also be able to have a say on the likes of the flooring, the doors, the design of the kitchen and bathroom… Buying off-plan does of course come with it’s own risks but it is worth considering if you have particular property needs in mind.
2. They are designed for modern living.
This is particularly relevant in Edinburgh where a lot of properties have a bit of history to them. Where as a lovely tenement flat may beam with character, it’s probably not practical for modern family life. New build homes are designed to make the most of what is available, both in space and environment. You’ll also find they are more engery efficent (& as a result, cheaper to run) and secure; with modern locks, lighting and compliance with current fire regulations.
3. You won’t be reliant on a chain.
As you are buying from a developer, you are not reliant on a seller completing any other purchases or awaiting completion dates of their new property. You can work directly with your property developer as to when your new property will be available. Although delays can happen, they tend to be more predictable.
4. You can take advantage of buying incentives.
The Help to Buy ISA is available to use on new build properties for first time buyers, as well as developers sometimes offering to cover your LBTT or your legal fees as part of the deal. You may even find incentives of extra upgrades to your property to help seal the deal.