When it comes to buying a property, there’s a lot of decision-making to be done. One of the most important things to think about is the difference between old and new builds, and the pros and cons involved with each option.
These can be from energy efficiency and financial issues, to the more aesthetic problems of space and architectural style. We’ll be taking a look at all of these, to help you whilst deciding the right home for you.
What are the benefits of a new build?
One major benefit of buying a new build would be the energy efficiency. New houses are likely to be built with double glazed windows and extra insulation, helping the energy and heat that you use not go to waste. This will therefore save you money as there would be no need for any extra expenses on heating, as the energy used to begin with is being used at a fuller potential. Most new build home owners save around £629 annually on energy bills compared to old build property owners!
Purchasing a new build would allow more personalisation – a blank canvas if you will. This would make it easier to have radiators fitted and changed, as the modern fittings would be more compatible with newer radiators, making it less expensive to have work done in your home. Your new build home would also come with a 10 year builders’ warranty, meaning any issues you run into would be fixed by your developer.
But are new builds perfect?
Like anything you will look at, new builds can come with some drawbacks. Due to increasing demand for housing and builders using all the land they have due to this, space around the house could be an issue, as well as parking spaces. If this is a concern for you, check out the area surrounding your potential new home, and the parking availability near the building.
A slightly larger concern surrounding new builds is the pricings for resale. Newer builds are more expensive than old houses, due to the more advanced technology and building work. Once you want to move onto a different house in the future, your new build might be worth less than what it was when you first moved in.
The premium price you bought it for would have dropped as soon as you moved in. However, depending on how long you own your house for, the price may rise again in the long term.
What are the benefits of an old house?
If you’re looking for a house with character, an older house might be for you. Whether it’s the Roman inspired Georgian homes or the high ceilings of the Edwardian period, the charm of a house steeped in history is unmatched. Original features of a period house are amazing to admire, and a great talking point when entertaining guests! These older houses are often more spacious with wide hallways and elegant decoration, making them an appealing place to live.
Older houses also have thicker walls, which have many benefits, including the slowed transfer of heat, and acting as a sound barrier. The former helps with saving money on energy bills, as the heat is easy to maintain within the building. With the possible extra expenses needed for taking care of an older property, thicker walls will help save the money you may have needed for extra heating, which can be used for these exciting renovations.
Is an older house the best option?
Much like the new builds, an old house would have a few demerits. There would be a higher level of maintenance required with an older building, due to wear and tear and more aged infrastructure. Though your older house may be a cheaper first purchase than a new build, these renovation costs would add on to the long-term expenses on your home.
An older house would have a lower energy efficiency rate, as the outdated heating systems take longer to warm up the space, resulting in larger energy bills and extra costs. The lack of good insulation would also contribute to the loss of heat; many older homes have excessive drafts which let out both the warmer and cooler indoor air.
So which is the best for me?
If you’re looking for a home that will be easier to replace and update broken features in, or you’re conscious of your energy usage and efficiency, a new build home is for you. But if you’re looking for a house with character and beautiful original designs, you might want to look for an older house. Whichever you decide to purchase, we hope a Lincolnshire Radiator might make its way into your new home!