Is a New Build Property Right for You? Pros and Cons to Consider
In recent years, new build homes have surged in popularity thanks to their modern features, energy efficiency, and the appeal of a fresh start. However, as with any major investment, it’s important to weigh up both the advantages and potential drawbacks.
The process of buying a new build property can differ from purchasing an existing home, making the role of a specialist conveyancing firm—like Franklins Solicitors LLP—essential for a smooth and secure transaction.
In this article, we explore the key pros and cons of buying a new build home to help you make an informed decision.
Benefits of Buying a New Build Property
Modern Design and Contemporary Amenities
New builds are designed with modern living in mind. Expect open-plan layouts, en-suite bathrooms, built-in appliances, and strong broadband connectivity—features that align with today’s lifestyle expectations.
Energy Efficiency
Most new builds include the latest insulation, heating, and cooling systems, making them significantly more energy efficient than older homes. This can reduce your utility bills and your carbon footprint. Some mortgage lenders also offer better rates or cashback for energy-efficient properties.
Customisation Options
If you buy early in the construction phase, you may have the opportunity to choose your preferred finishes, such as flooring, kitchen units, and bathroom fittings—allowing you to personalise your home before you even move in.
Developer Incentives
Many developers offer incentives to secure a quick sale, which can include covering Stamp Duty Land Tax (SDLT), providing upgrades at no extra cost, or contributing towards legal fees.
Builder’s Warranty
New build homes usually come with a 10-year builder’s warranty covering structural defects, plus manufacturer warranties on appliances and systems—offering peace of mind during the early years of ownership.
Lower Maintenance Costs
Since everything is brand new, you’re less likely to face repair costs or immediate renovations, making new builds a more predictable investment in the short term.
Drawbacks of Buying a New Build Property
Premium Pricing
New builds typically cost more than older properties in the same location. It’s important to evaluate whether the benefits justify the higher price.
Construction Delays
Unexpected delays—due to weather, materials, or developer issues—can push back your completion date, disrupting moving plans.
Limited Room for Negotiation
Unlike resale properties, developers are often less flexible on price, especially if the development is in high demand.
Snagging Issues
Minor defects or unfinished work—known as snagging—are common in new builds. These can include scuffed paintwork, faulty fixtures, or uneven finishes. As your conveyancer, we’ll help raise and resolve these issues with the developer before completion, wherever possible.
Reduced Space
To maximise profits, developers often build more properties within a limited area. This can result in smaller gardens, tighter parking, and more compact living spaces compared to older homes.
Estate Management Charges
Many new developments are maintained privately rather than by the local council. As a result, homeowners must pay estate management fees to cover the upkeep of shared spaces like parks, roads, and playgrounds.
Unestablished Communities
In new developments, community infrastructure and amenities may still be evolving. It may take time for schools, shops, transport links, and a sense of community to fully develop.
Quality Can Vary
Not all developers maintain the same standards. It’s important to research the builder’s reputation and history. As your legal representatives, we will carry out thorough due diligence—checking planning permissions, developer track records, and any legal risks associated with the property.
Reducing the Stress of Buying New
Buying a new build can be both exciting and complex. Having an experienced conveyancer by your side helps ensure your transaction is legally sound, professionally managed, and as stress-free as possible.
From reviewing contracts and resolving snagging issues to managing payments and registering your ownership, our team at Franklins is here to support every step of your home-buying journey.
To speak with our specialist new build team, contact us via our New Homes Conveyancing page, call 01604 936512 / 01908 953674, or email [email protected].
