What’s Your Style? The Pros And Cons Of New Builds And Doer-Uppers
We’re all different, and that’s what makes the world such an exciting place. When it comes to buying a new home, many of us have a preference. Some people prefer the charm and character of old homes while others love the crisp, clean feel of a new build. If you’re weighing up your options, here are some pros and cons to consider.
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If you buy a property from a new home builder, there’s a very low risk of building defects and structural issues. You’re unlikely to find problems like damp and leaking roofs in brand new homes. This saves you a lot of hassle, and also a lot of money. There’s also the advantage that you can move straight in. You don’t have to worry about where you’re going to live while you have work done. Your expenditure after the acquisition will also be minimal. You may want to make changes, but it’s likely these will be purely cosmetic. New homes may also offer you more space than older properties, and they may be a more practical solution for family life.
Many people love the design features of new homes, but for some, they lack personality. It’s also difficult to add value to a new build. There’s limited scope to make changes that will earn you money in the long-run.
Buying a home that needs some TLC can pay dividends when it comes to unlocking potential and adding value. Sometimes, projects represent excellent value for money because asking prices are lower than market value to secure a quick sale. If you’re willing to oversee the work and be patient, you could add significant value. There’s also the opportunity to make your mark. When you’re in charge of the project, you can customise the design to suit your tastes. Older homes also tend to boast more character, and they often offer quirky features you don’t find in brand new properties.
Taking on major renovation work is not for the faint-hearted. It can be very stressful, especially if you run behind or hit hurdles along the way. You may have to wait months, even years until you can move in and start enjoying your new home. There’s also the issue of cost. You can save money by doing up an old or run down property. But you’ll need to keep a close eye on building costs. Make sure you get a number of quotes before you decide which firm to go with, and set aside a contingency budget.
If you’re looking to get on the property ladder or make a move, you may be considering your options. There are lots of different types of properties out there, and it’s a good idea to have a good look around before you make a decision. You may think that you’re 100 percent sure that you want an old home but be swayed by the convenience of a modern house. You may struggle to find your dream house and find that a project gives you the freedom to create a unique home you love. Weigh up the pros and cons, and hopefully, you’ll make the right decision.
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