You can’t deny that new build homes are a great option, no matter whether you’re a first-time buyer, have a growing family or you are downsizing in later years. But, you may have noticed that when you develop new build properties a lot of your buyers are purchasing for the first time. More and more people are trying to get on the property ladder and they seem to choose new builds over purchasing older properties.
There are many reasons why first time buyers are jumping at the chance of purchasing new build properties and it will probably benefit you as a developer to understand these reasons, after all, they may help you to sell your new properties even faster than ever before.
Firstly, new build homes are appealing to home buyers because many people like the fact that they will be the first people to live in the property. It will be brand new and not “second hand”. Many people think that when they are investing in something incredibly expensive they want it to be new and properties are no exception to this.
Of course, the thought of minimal repairs and redecoration costs are also incredibly attractive to first-time buyers. A new property is a blank canvas with fresh tiling, paintwork, kitchens and bathrooms. Knowing that they can move straight into a property and not have to worry about stripping the wallpaper or installing a new bathroom is a huge advantage and is a good enough reason for them to spend more on a new build.
Many first time buyers are also looking for a safety blanket when spending the money that they have been saving for years and years. New builds come with this safety blanket, usually, the warranties and guarantees provided with a new home make them feel better about their investment. In this day and age, we are so used to returning things that we aren’t satisfied with and obviously, you can’t do this with a property – so having a warranty is essential.
Along with this safety blanket, there are lots of other small things that attract first-time buyers such as comprehensive homeowner manuals and good customer care for new homes. Usually, with new builds, they have an impressive team on hand to help with any queries and they are known for explaining everything to do with a property clearly and in full.
The thought of lower running costs and energy bills can also be appealing to anyone, especially first-time buyers. New build homes have to comply with the latest building regulations and this means they are far more energy-efficient than older properties. It is no secret that the initial cost of purchasing a home is significant but often the upkeep and running costs can be overlooked. Knowing that monthly bills will be cheaper is definitely a selling point for buyers.
Not to mention the fact that purchasing a new home can be a lot less stressful and often quicker process for first-time buyers than entering a chain of other buyers above you with older properties. They don’t have the risk of people pulling out and the chain breaking when they purchase a new property directly, it is just the first time buyer and the developer.
All in all, there really aren’t many negatives for first-time buyers when it comes to new build properties and as a developer, you can really entice them into buying your properties with everything we have mentioned above. If you are new to development and require any assistance with the whole process from pre-occupation surveys to estate management then this is something After Build can assist you with.
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