A new build home is a house that is brand new and has never been lived in before. It is often purchased directly from a builder or developer and you may not be able to see the physical house before you decide to purchase it. When reserving at an early stage, you will have the chance to customise elements of the home to suit you.
A second hand home, also known as a resale home, is a property that has previously been owned and lived in by one or more individuals or families. Unlike new builds, these houses often come with established gardens, mature neighbourhoods, and a sense of character and history.
When purchasing a new build home, one of the primary differences from buying a resale home is the timing of the purchase. With a new build, you often buy the house before it is completely built, sometimes before it has even started. This is called purchasing ‘off plan’. This means you generally have to wait for it to be finished before you can move in. This waiting period could range from a few months to over a year, depending on the construction schedule. This could mean that you need to move out of your current property before your new home is ready. Do you have friends or family you could stay with or are you willing to rent somewhere while you wait? This is something to consider when choosing your new home.
When buying a Kingswood home, you will have the opportunity to customise various aspects of the house. We offer a unique design-led concept called Shape Your Home where you can choose from a selection of floor plans to design a home that is right for you. You may want to have complete open-plan living downstairs or fewer but bigger bedrooms, or maybe you want to create a home office or playroom- the choice is yours with Kingswood Homes. You will also have the chance to make other choices such as the colour and style of the kitchen, add flooring such as tiles and carpets as well as adding many other personal finishing touches. This allows you to have a considerable amount of input into the final look and feel of your home, something that is not typically possible with a resale home.
Moreover, new builds tend to be more energy-efficient saving you thousands on your energy bills each year. All of our homes on our Farmstead Eco Collection come with £15,000 worth of eco extras such as solar roof panels, shower heat recovery systems, enhanced building materials and much more. New build homes also typically require less maintenance. You will receive a two year builders warranty as well as a ten year warranty from either NHBC or LABC.
Another reason to consider purchasing a new build is the promise of early exchange which can be beneficial for several reasons. Firstly, it secures the property for you, reducing the risk of someone else buying it. Secondly, it allows you to begin planning your move, knowing that the home will be yours once it’s completed. Imagine the peace of mind when you can start thinking about the fun stuff like decorating and buying new furniture instead of worrying about the sale falling through. Thirdly, builders may offer incentives for early exchange, such as upgrades or discounts. Early exchange gives you the security that the home is yours and reduces the stress often associated with purchasing a property.
You also need to be aware that often new builds have higher upfront costs, and there’s the potential for construction delays which can postpone your move-in date.
On the other hand, when buying a resale home, you are purchasing a property that has already been lived in. This means that you can usually move in as soon as the purchase is complete, which can be a crucial factor for buyers on a tight schedule or those who are not comfortable with the uncertainty of a construction timeline. It may not suit everybody to move in with others or rent while they wait for their new build to be complete.
Resale homes often come with established gardens and are located in mature neighbourhoods, which can provide a greater sense of community and history. These homes may also have unique architectural features and a sense of character that is harder to find in newer properties. If you’re looking to buy in a specific area, there might be a wider variety of second hand homes to choose from, especially if there are no new-build developments in your desired location.
However, buying a resale home may mean that you need to invest in renovations or updates to the house to suit your tastes. Additionally, it might come with older appliances and systems which can increase maintenance costs. There is also an increased chance that there will be structural problems which may be expensive to resolve.
When you have an offer accepted on a resale home, it’s important to note that this doesn’t immediately finalise the sale of the property. Instead, it initiates a legal process leading up to the exchange of contracts and may be lengthy depending on how long the chain is. This process can include a variety of steps, such as title checks, surveys, and arranging financing, each of which can introduce potential hurdles. Throughout this period, until the exchange of contracts, the seller has the right to consider other offers, which can add to the uncertainty and potentially cause significant stress and anxiety for prospective buyers. Therefore, patience and preparedness are key aspects to consider when purchasing a resale home.
Purchasing a new build home differs from buying a resale home in several ways. New builds offer customisation options, are generally more energy-efficient, and come with warranties. However, they may involve waiting periods due to construction schedules and potentially higher upfront costs. Resale homes, on the other hand, are typically available for immediate move-in, may have unique character features, and are often located in established neighbourhoods. Yet, they may require renovations or updates and may come with costly repair works. The buying process for each also differs, with new builds offering the possibility of early exchange and resale homes involving a potentially lengthy legal process.
When making the significant decision to purchase a house, whether it’s the thrilling prospect of a first home or the complex process of moving from one house to another, there are numerous factors that need to be taken into account. If you want to hear even more reasons to buy a new build Kingswood Home, why not pop into any of our show homes and speak to our expert sales team about how we could get you moving into your dream Kingswood home.
Green Hills Homestead Collection | open 7 days a week 10am-5pm | 3 stunning show homes
Green Hills Farmstead Collection | open Thurs-Mon 10am-5pm | 1 excellent six bedroom show home
Spinners Brook, Hoddlesden | open Thurs-Mon 10am-5pm | 2 impressive show homes and 1 virtual reality show house
