Why new build is the first choice

Experts are warning homebuyers in North Wales to carefully consider the full ownership costs of their dream property as research suggests that buyers could save more than £34,000 by selecting a new-build rather than a second hand home.

Statistics show that new build properties could save homeowners as much as £556* a year on their energy bills and cut carbon emissions but a whopping 60% - the same as taking one car off the road per home.

Research also reveals that new homes offer greater space efficiency than second-hand properties – meaning its takes longer to out-grow a new build home. In fact in an average £200,000 second-hand home, a massive 17% of the space often goes unused – equating to around £34,000*.

According to housebuilder Morris – the developer behind the new Penmere Park development at Oakwood Park in Penley – the difference is in the way new homes are designed.

Julie Smith, regional sales director for Morris, explains: “Some people will always prefer an older, period property and are prepared to live with the ups and downs but for others, the lifestyle benefits of a new-build far outweigh the advantages of a second-hand home.

“Usually, new homes offer superior quality, lower maintenance costs, better use of living accommodation, a more sustainable construction and a wider choice. Plus the process of buying a home direct from a housebuilder can be far simpler and more straightforward.

“Feedback from our customers shows that the prospect of avoiding the property chain and moving into a brand new, ready-made home – designed to their precise specification – is simply too compelling.”

SIX SECRETS TO NEW HOME SATISFACTION

Morris has put together a simple six-step check list to make moving to a new-build simple for homebuyers in Wrexham

- Reassurance - Check that the housebuilder is registered with the National House Building Council (NHBC), which is the industry’s standard setting body for quality. Any new home registered with the NHBC benefits from a 10-year warranty, giving you peace of mind if anything should go wrong.

- Reputation - Find out whether the housebuilder has a good national or local reputation. The HBF’s National New Home Customer Satisfaction Survey is a good indication of how housebuilders fair in the industry. Morris achieved a full five star rating in the survey – one of the few housebuilders in the region to do so.

- Award wins – Check to see whether the development site manager has won any awards for quality, which will help you see whether extra care has been taken to build your new home. For example, the NHBC has its own Pride in the Job awards which were introduced to raise standards across the industry. It recognises excellent site management and individuals who have helped create a successful housing development of high standards.

- Stock properties. Looking for a speedy move? Ask whether your housebuilder has any stock properties available. These properties, which are already fully built, will be ready to move into straight away. Many housebuilders also have part-exchange schemes on offer, which cut out the dreaded property chain as well as removing the need to pay estate agency fees

- Quality check. Don’t be seduced by price alone. Check out the quality of the build before you buy. Before completing you’ll be invited to the development for one final inspection of your home. This is usually done two weeks before completion so the housebuilder can put right anything you’re not happy with. Quality housebuilders will want to make sure you’re entirely satisfied with your new home.

- Helping hand. Be sure to ask about schemes and offers available to cut the cost of your move. Whether you’re a first time buyer or trading up to a larger property, housebuilders are likely to have offers available to cut the cost of moving.

At its Penmere Park development, Morris currently has a range of three and four bedroom homes available starting from £147,750.

For those with properties to sell, the housebuilder offers a part-exchange scheme on a selection of properties meaning that Morris will buy their home for 110 per cent of its value, removing the dreaded property chain and estate agency fees.

Morris offer a range of tailor-made ‘moving-in’ packages which include curtains, blinds and carpets in the price allowing buyers to start enjoying their new home as soon as they move in.

The housebuilder is also offering its 80/20 Great Start scheme on selected homes at the development to help first time buyers who are struggling to get on the property ladder.

The scheme means that for example a three bedroom townhouse worth £147,750 could be bought for £118,200** (80 per cent of its value). The remaining 20 per cent balance can be repaid to Morris in stages over 10 years or settled as a lump sum when the house is resold at its future market value.

Julie Smith, regional sales director for Morris, explains: “Our 80/20 scheme has been extremely popular with first time buyers who otherwise wouldn’t have been able to afford a new home. Not only does the scheme reduce the size of the buyer’s mortgage, it also means they can qualify for lower mortgage rates because lenders treat them on a par with those who can put down a 20 per cent deposit.”

Anyone wishing to get more information about Penmere Park can visit the sales office, which is open Thursday to Monday from 10:30am until 5:30pm, at Penmere Park, Oakwood Park, Penley, Wrexham, LL13 0JP, call 0194 883 0817 or visit www.morrishomes.co.uk/penmere-park/.

*New Homes Marketing Board report.
** Price is correct at time of going to press. Price quoted is a percentage of the marketed price on selected homes. Repayment is a percentage of the resale or market value after 10 years. Subject to terms and conditions.