Investing in a property requires a lot of consideration; the affordability, the demand in the market, the style of home, and much more.
There’s always speculation on whether to buy a new home or an older home, and each come with their own benefits. If you are thinking about investing in a home, whether it’s to live in or to rent out, you should take a bit of time to consider the status of the house.
A shiny, new property is tempting to many aspiring homebuyers in the UK, with a fresh-start to a modern lifestyle being the main appeal.
Firstly, the UK government considers new-build properties as the best option for people to get an easy foot on the housing ladder. There are even schemes such as Help to Buy that apply specifically to new-builds to help people join the property market.
Along with this, the new homes built today are much more environmentally friendly than the houses of yesteryear. With energy-efficient designs, they are not only better for the planet, but they should also cost you less to run.
With a new-build you’re likely to have the latest safety advancements and an up to date security system. This could be locks on doors and windows, fire safety, lighting and an equipped alarm set to protect your property.
Various consumer codes have been created specifically to protect buyers of new homes and most new homes are covered by a 10-year structural warranty to provide financial protection to the home owner.
On the other hand, older homes also have a myriad of benefits that sways the temptations of aspiring homebuyers.
On average, older properties are located in established areas as they have had sufficient time to build a reputation. This makes for a better piece of mind for property value as opposed to the new homes placed in unchartered areas.
With older homes, your garden has had a chance to grow and gain character. In comparison to the modern new-builds, your old garden could be stocked full of seasonal flowers and surprises.
Just because you bought an older home, that doesn’t mean that you should keep it the way that it is. You can still make practical improvements to the structure or aesthetics and most of the extra services that you need should be already installed within the home, like broadband and electric.
Whatever option you choose for investing, whether it’s an old family home or a trendy new flat, there are many benefits that could sway your decision either way.