Why buy new
The advantages of new homes
- a solicitor's view
Diane Paterson, of Russel & Aitken solicitors in Edinburgh, explains why the purchase of a brand new home can be an attractive proposition.
One of the main reasons is financial. If you're looking in bouyant areas such as Edinburgh and Glasgow, the fact that there is no requirement to compete against other purchasers in a 'blind bidding' situaton, is a significant advantage. At the moment many people are paying vast sums over the valuation of the property to secure a property in the second hand market.
The ease of reserving a brand new property, by paying what is usually a fairly nominal reservation fee to the builder until a deal is concluded, compares favourably.
But there are other less obvious advantages, too. Usually the new property is backed up with NHBC Buildmark cover, or a similar insurance programme, which gives some comfort to the buyer.
Another advantage is that while 'snagging' problems are inevitable, on the whole there should be little in the way of maintenance and repairs in the early years.
Similarly, any equipment such as integral washing machines and fridges, and of course the central heating system, will be brand new and come with usual warranties and are less likely to break down.
Minimum decoration will be required and nowadays most gardens are landscaped as part of the builder's package.
With new properties now being built to an extremely high standard, including many features such as cornicing and panelled doors as well as the choice of a huge range of kitchens and bathrooms, it is perhaps not hard to see why for many the brand new market is a more attractive proposition the the second hand one.
