Demand for new build homes in the UK is soaring, with recent figures showing that new build transactions have grown by 43% in the last year alone. With considerable cost and time savings to be made, this steady demand is only set to continue as more prospective buyers recognise the benefits of buying new.
In fact, in the face of the cost-of-living crisis, and rental prices reaching all-new highs, new build homes are the ideal option for those looking to make the most of their money and move to a hassle-free property. With new builds being cheaper to run and easier to maintain than second-hand homes, and given the range of schemes available that can help homebuyers to secure their dream property, now is the time to buy new.
Award winning housebuilder Crest Nicholson shares the reasons why purchasers should act now to secure their new build home.
- Rising cost of rents – Rent prices are continuing to reach record highs as demand outstrips supply and people return to cities post-pandemic, or to popular commuter towns. Recent data shows that private rental prices in the UK have increased by 2.8% in the 12 months to May 2022, the highest growth rate since data collection began in 2016. Despite rising prices, demand for rental properties continues to grow, whilst the number of new landlords fall. Many buyers who are able to save for a deposit may find mortgage repayments are cheaper than the monthly cost of rent, and there are several schemes available which can help break down some of the barriers to owning a home.
- Schemes to help you – One of the biggest challenges prospective homebuyers face is struggling to save for a deposit, which is becoming tougher with the cost of living increases. Thankfully, many of Crest Nicholson’s new build properties are available to purchase using a range of schemes to help you secure your dream home. They include Deposit Unlock, which enables buyers to contribute just a 5% deposit to secure their dream home, and Crest Nicholson’s Part Exchange Part Exchange enables you to remain in your current property until your new home has been built, removing the chance of complex and unstable chain delays, guaranteeing a cash buyer for your home and streamlining the entire process.
- Energy efficient homes – Keeping energy bills as low as possible is on everyone’s mind at the moment. Amidst the pressing need to cut back and be more energy-conscious, research from The Home Builders Federation found that a new house is 59% cheaper to heat than its older equivalents, resulting in cost savings of £395 over 12 months. Not only are you saving money on your energy bills by purchasing a new build home as opposed to an older property, but you are also doing your bit to reduce the country’s greenhouse gas emissions. People who purchased a new build property last year saved 576,000 tonnes of carbon emissions as new build homes generate only around one third of the carbon produced by the average older property each year.
- Low maintenance homes – New build homes are an ideal option for those looking for a high specification and hassle-free living. As a blank canvas for new purchasers, you can move straight into your new build and make the space your own, rather than having to repair damage left by previous occupants. No costly upgrades or retrofitting are needed either, as all of Crest Nicholson’s properties come with brand new, energy efficient appliances and boilers and high quality insulation as standard. As well as saving you money as soon as you move in, all of these features help to save you money in the long run, too.
- Get in there early – As demand for homes continues to outstrip supply resulting in house prices increasing, buying off plan from Crest Nicholson could mean you can secure a property ahead of time, before it’s even built. Not only could you pick your perfect plot, but you might even be able to personalise your fixtures, fittings and appliances from a wide range of options – meaning you can start putting your own stamp on your new home before you even move in. With new build properties completing on average 28 days faster than existing homes, according to data from Unlatch, you can move into your new build property as quickly as admin efficiency allows once you have purchased it. This is thanks to new build homes not being subject to complicated chain delays, surveys which highlight issues with existing properties, and cutting-edge technology used by housebuilders such as Crest Nicholson, plus the strong relationships they have with other stakeholders involved in the home buying process.
Crest Nicholson has a range of new build properties that are ready to reserve now, including at its Potter’s Grange development in Ashby de la Zouch, Leicestershire. There are a number of schemes available on selected plots to help homebuyers secure their dream home, including SmoothMove, Part Exchange and Deposit Unlock. With plenty of house types and sizes on offer, there is something to suit every prospective buyer. To find out more information about the new build homes on offer at Crest Nicholson, please visit www.crestnicholson.com.Back