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New homes

Is it a good idea?

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You could consider buying a new if:

  • The only place you can live is in a spanking new home built to the highest modern standards and specifications that no-one has messed up with hurried redecoration.
  • You really don't fancy spending a lot of time and effort erasing all evidence of the poor taste of a previous occupant.
  • You are confident that long term demand for this type of property will outstrip supply.
  • The incentives on offer from the builders are genuinely appealing.
  • You are buying to let and want to minimise the length of time before your property is ready to take a rental income.
  • A hassle-free move to a low maintenance home already finished to a high standard appeals to you.
  • You want to take advantage of new innovations in living space layout, usage of space and light and interior design.
  • A hi-tech home kitted out with cutting edge technology is a must-have for you.
  • Energy efficiency is important to you.

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Buying a new home could be a bad move if:

  • You want a period building in its own style with original fittings.
  • You may want to sell again quite quickly - this is not always possible at anything but a knockdown price until all the units are sold in a development.
  • You want to do a hands-on job of redecorating the place.
  • There are too many similar properties flooding the market.
  • The development is on the outskirts of a town and you feel it may suffer if the economy takes a turn for the worse.
  • The quality of the finishing or building does not bear up to close scrutiny.
  • It's just not your cup of tea.

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You should think carefully and do some more research if:

  • You don't trust the developers or the incentives they appear to be offering.
  • The economics of the housing market are unfathomable to you and you haven't the foggiest if you would be able to sell it on at a profit.
  • The development is Off-plan (i.e. they haven't finished building it yet).
  • You are feeling pressured into a sale by the highly competent salespeople .

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