At Genesis Homes, we are often asked ‘why buy a new home?’
When considering the choice between old houses vs new houses, the decision-making process can be quite puzzling. The truth is there’s no right or wrong answer and it all comes down to what is important to you. With that being said, it’s not always an easy decision to make and the team at Genesis Homes are here to support you every step of the way and help you find your dream home.
Whether you lean towards the sleekness of new build properties or the character of an older home, understanding the pros and cons of each option is essential to making an informed choice that aligns with your lifestyle and preferences. You’ll need to weigh up what’s important to you, and which type of property ticks the most boxes on your ‘must-have’ list.
In this post, we’ll explore the advantages and disadvantages of both new build and existing homes, helping you navigate the decision-making process when choosing your ideal living space.
What’s the Difference Between a New Build Home and an Older Property?
The main distinction between a new build property and an old house lies in their history and occupancy. A new build home is a property that has been recently constructed and has never been lived in before, while an existing property or older property has seen at least one previous owner.
Is it Better to Buy a New Build or an Old House?
Whether it’s best to buy a new home or an existing property will depend on your own unique needs and preferences. Ultimately, the decision should align with your lifestyle preferences and long-term goals. Whether you prioritise modernity and convenience or value tradition and character, the right choice between a new build or older home is one that best reflects your personal requirements.
The Advantages and Disadvantages of Buying a New Home
There are a number of pros and cons to buying new build homes vs buying an older home and you should consider these against your own needs:
New Build Homes: Advantages
- New builds are ‘new’ – in terms of the advantages of buying a new home, a new build home has never been lived in, meaning everything is brand new and it is unlikely to require as much maintenance as an older home.
- Modern amenities – buying a new build home provides owners with modern amenities such as smart home features and advanced security systems. At Genesis Homes, all properties come with a high specification as standard.
- Energy efficiency – having been built with the latest technology, new builds have far superior insulation and energy efficient appliances. For example, all Genesis homes have 100% energy efficient lighting and smart meters that allow you to analyse your energy consumption, meaning they are greener and more economical to run than an older property.
- A builder’s warranty – many new homes come with a warranty supplied by the developer in case any issues arise. For peace of mind, every Genesis home comes with a 2-year home warranty, as well as a 10-year warranty supplied by the LABC upon build completion.
- Customisation – advantages of buying a new build home also include the opportunity to personalise living spaces to align with individual preferences including customised finishes like flooring, countertops and cabinets. At Genesis Homes, when it comes to selecting your options such as kitchens, bathrooms and tiling, you’ll be invited to a choice’s appointment, giving you the opportunity to make each room personal to you.
- No chain – buying a new build means you don’t have to deal with a buying chain, unless you have a home to sell yourself first, meaning that you are not reliant on other buyers or sellers to complete the transaction.
- Home buying schemes – there are a few schemes to help people buy new build properties such as Help to Buy, Shared Ownership and First-Time Buyer programmes, making buying a new build home more achievable for a wider range of individuals.
New Build Homes: Disadvantages
- Smaller floor plans and gardens – in terms of disadvantages of buying a new home, the common misconception that new build floor plans are smaller compared with older homes is simply not true, not with Genesis Homes at least. Here at Genesis Homes, all our homes are designed with easy and relaxed living in mind, and proportioned to suit different lifestyle requirements, varying in size, design and layout.
- Lack of character – while new build homes may lack varied architectural details such as original fireplaces or bespoke woodwork, we at Genesis Homes offer diverse designs and characterful elements in each of our homes. The advantage of a ‘blank canvas’ that our homes offer also provides scope for personalisation and individual character.
The Advantages and Disadvantages of Buying an Old Home
Old Build Homes: Advantages
- Character and charm – old houses offer a distinctive charm and character that new build homes simply can’t match up to when it comes to original features. This may influence the appeal of a property, particularly for those who value aesthetics and a sense of history in their homes.
- Renovation potential – with an older property, you may be able to find untapped potential where you can add value, such as a large kitchen extension or loft conversion. However, with this comes additional costs that you wouldn’t get when buying a new build house.
Old Build Homes: Disadvantages
- Increased maintenance expenses – older homes will invariably have had multiple previous owners and they have been standing for longer, meaning they need more maintenance and can be more expensive compared with the cost of new build homes.
- Higher utility costs – your energy bills may be higher in an older home compared with the cost of a new build home, as these will often be less efficient than a new build.
- Renovation costs – when buying an older house, you may have to spend additional money bringing it up to standard and making it work for you.
- Long chains – when buying an existing property, it’s possible to get caught up in long and stressful sales chains, risking the potential of a collapse in the process when compared to chains for new build purchases.
Key Takeaways
Choosing to buy a new home vs an old home is a decision that is deeply personal and shaped by individual preferences and requirements. Each option has its pros and cons, and understanding these differences is key to making an informed decision that aligns with your interests.
While new build homes offer improved energy efficiency, modern designs, builder’s warranties and minimal maintenance requirements, old houses provide character, charm and renovation potential. It’s essential to consider the factors discussed in this blog to ensure you find your dream home.
When buying a home, it’s also important to consider the developer/builder history as well as any associated costs for renovations or inspections. At Genesis Homes, we have over 100 years of house building knowledge and the experience of our people enables us to build properties that actually work as homes. You can be assured that our award-winning team will do everything we can to make the road to purchasing your new home as stress-free as possible.
At Genesis Homes we boast a range of high specification 2, 3, 4 and 5 bed new build houses and bungalows. All Genesis Homes’ properties offer advantageous features such as energy efficient lighting and smart meters that allow you to analyse your energy consumption and a 10-year warranty. As a small team, we can ensure that the house buying process is managed carefully and professionally from start to finish. And if there are any tweaks needed after you move in, we’ll quickly sort that too. Reach out to our team to schedule a consultation and discuss your specific needs and let us help you on your journey of buying a new build home.