May 262 min read

Why are new build homes growing in popularity?

The UK property market isn’t the easiest for both homeowners and renters. While we’ve seen a small decrease in 2024, the average British house price hit an all-time high this month at £375,131. This means that buyers are now looking for something worth spending all their hard-earned savings on.

New build properties are now emerging as a popular choice among property movers and first-time buyers, but why? From lower running costs to better financial protection, we take a look at some of the main reasons below.

A solid investment choice

When moving into a new property, there are likely going to be aspects you either want or need to change, which can all add up. With new builds, you’re often the first to live there so the property won’t need as many touch-ups or renovations.

New homes are also generally cheaper to maintain as a result of advancements in building techniques and materials. Their high energy efficiency means bills are kept to a minimum, which is an attractive feature for future buyers if you intend to sell.

Smart home technology

New build developers have been quick to adopt cutting-edge technology in their properties, as an increasing number of people prefer smart homes. Convenience is key here, allowing homeowners to control functions such as heating remotely. That, and making sure the security system can be armed all from your phone.

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Protection and warranties

It’s not unheard of to find some complications when moving into a property, even in those that are brand new. If you don’t have the money to sort out these snags, you may find your home riddled with damp or roofing issues that can have serious financial ramifications.

Fortunately, new builds typically come with a warranty that provides cover from structural issues for 10 years. Should the worst happen, it can save homeowners thousands in repairs. Given a home is a major investment, it’s understandable that potential buyers want this level of protection.

Ideal for first-time homeowners

The difference between purchasing secondary homes and new builds varies and so suits different buyers. Generally, new buyers prefer to go with a new build since they’re essentially a blank canvas and they can do what they like with it.

Cost-savings tend to be the main allure for first-time buyers, and since new builds come fitted with white goods and bills are lower, it’s a no-brainer.

And, unlike existing properties, new builds have no previous upward chain, making the buying process much easier. This reduces the risk of any complications or delays, which first-time buyers want to avoid.