Why Buy New?

The cost of upgrading an old home to new build specification is nearly £45,000.

When looking to buy a house, it’s rare you’ll find somewhere that you could move into straightaway without even adding a lick of paint. The old boiler might need replacing, or you might just want to add a personal touch to make the house a home, by treating yourself to a brand new kitchen or bathroom with all the gadgets you need for everyday living.

But how much would you be prepared to spend on new home costs, in order to put your own stamp on a house after you’ve moved in? It might be £1,000 or £5,000 – some people might even spend £10,000 on renovating their home. But what about £45,000? That’s the amount that’s needed to upgrade an older home to the specifications of new build homes.

That’s where new build homes come into their own. The costs of buying a house are greatly reduced when the home you’re buying is already in top condition, and you don’t need to spend money on renovating and upgrading it, on top of all the other new home costs.

Why buying a new home will save you money while helping to protect the environment?

By purchasing a new home rather than an older, less energy efficient property, purchasers are doing their bit to reduce the country’s greenhouse gas emissions and saving themselves hundreds of pounds per year as well.

With new homes generating only around one-third of the carbon produced by the average older property each year, its impact on the environment and climate change is far lower than that of the existing housing stock.

Just under 18 million homes in England were built before 1980 with these properties typically being the least energy efficient among the housing stock. Accounting for 73% of all homes in England, if all of these dwellings were brought up to the standard of the average new build property, or replaced by new homes, the country’s annual carbon emissions would be reduced by 42.6 million tonnes^*.

These energy efficient homes are achieved through a combination of innovative design and using the most modern materials available, for example through the installation of boilers that only give you hot water when you need it, as well as fitting modern double glazing, using quality insulation in the roof and walls, and by creating sophisticated water drainage systems.

With 95% of new build properties rated A-C for energy efficiency, the benefits that new build homes bring are irrefutable; not only that you’ll stay warmer in winter, owners of new build homes also use less energy, save large amounts of money on bills, and considerably reduce their carbon emissions.

^{*HBF Greener, Cleaner, Cheaper Report March 2022}

The National House Building Council (NHBC) is the UK's leading standard-setting body and provider of warranty and insurance for new homes. Their role is to work with the house-building industry to raise the standards of new homes and to provide consumer protection for homebuyers – adding that extra reassurance when you buy new.

The quality of house building has improved significantly in recent years. According to the most recent industry survey, around 90% of home buyers are so satisfied with their new build homes that they would recommend their builder to a friend.

But peace of mind is about so much more than just knowing that you’re buying a quality new home and getting great value for money. It’s also about being confident in the product you’re buying and having the confidence that – should something go wrong – you’re protected.

That’s where the Consumer Code for Home Builders (https://consumercode.co.uk/) and the NHBC’s 10 Year Build mark Warranty (www.nhbc.co.uk)  come in, when you buy a new build home.

Buying a home is one of the biggest purchase decisions you’ll ever make. Your new Lovell Home

Our homes come with a 10-year NHBC Buildmark policy which includes deposit protection from exchange of contracts, a two-year builder warranty from legal completion, and then eight years of structural defects insurance cover.  For more details, please visit  www.NHBC.co.uk/homeowners

See the Outline of the Buildmark policy provided by NHBC

Why buying new makes perfect sense and a wise investment.

A new build home is fresh, bright, clean and untouched by previous owners and their dodgy DIY or dubious tastes in home décor. It’s a blank canvas on which you can stamp your own style and personality.

Most house builders price their homes to sell swiftly, particularly in these competitive times. Combined with generous new buyer schemes, and help with your moving costs, you’ll get unbeatable value for money when you buy a new build home.

Today’s new builds are built to the latest environmental standards, so they’re not only better for the planet, but they’re also cheaper to run. As well as reducing carbon dioxide emissions, energy efficient new homes mean you could save up to £1,400 a year on utility bills, compared to a Victorian home of the same style.

A new home is superior to an older second hand home, offering you savings.

Buying a new build homes offers you a great range of advantages, compared to buying an older, second hand home. From the financial incentives on offer, to the savings you can make through energy efficient new homes, there are plenty of advantages to buying a new build.

What’s more, the difference in building quality between new builds and older homes is self-evident. From the foundations to the fixtures and fittings, new builds are designed to the highest standards that we expect from modern living.

Buying a new home gives you a number of affordable ownership options.

When you’re looking to buy a new home, whether you’re a first time buyer or are moving up the property ladder, there are time when things can start to seem like nothing more than an impossible dream.

But there’s no need to worry, as buying a new build home gives you a number of options that can make the ultimate goal of home ownership more affordable.

Here at Lovell Homes, we have a great choice of new buyer schemes, suitable for both first time buyers and those who are moving upwards, sideways or downsizing.

Watt a Save: New HBF report finds that new build buyers save over £2,000 in energy bills - HBF Briefing, 12 October 2022  

A new report, ‘Watt a Save’, published October 2022 by HBF has found that buyers of new build properties will save on average of £2,000 in energy bills and reduce carbon emissions by over 2 tonnes per property each year.

The report, that analyses Government data on the energy efficiency of new build and existing homes, highlights:

• New build properties significantly reduce energy usage, with the average new build using approximately 100 kWh per m2 each year, as compared to older properties which require an average of 259kWh per m2.
• New build properties save an average of just over £2,000 per property each year, with the average annual running costs for a new build totalling £1,500 as compared to an average of £3,570 for older properties. These savings rise to £2,600 a year when looking at new build houses alone, rather than smaller properties such as flats or bungalows.
• 84% of new build homes were rated with an EPC of B or above, while less than 4% of existing dwellings reached the same standard.

Despite Government action to try and keep a lid on energy prices, bills are now significantly higher than just a few months ago. While there is some comfort in the recent intervention to cap typical energy bills at £2,500, inefficient households will continue to pay more than those living in a new build.

On top of these dramatic savings, buyers of new homes are also contributing to the country’s progression towards net zero, with each new build preventing 2.2 tonnes of carbon being emitted each year.

Not only are new homes built to the most up to date regulations, builders are also demonstrating their commitment to go further, using new technologies and methods to ensure efficiency is embedded to the highest standard from the point of construction. The report also explores some of the most ambitious and forward-thinking examples of new homes in the industry. In contrast, owners of existing properties will often find themselves facing disruptive, extensive and costly retrofit works to bring their homes to the same standard.

Stewart Baseley, executive chairman of the HBF said; “The energy crisis is highlighting starkly the efficiency benefits and costs savings provided by new build homes. Energy efficiency is increasingly a priority for house hunters and the financial savings clearly demonstrate why. In the face of the cost-of-living crisis we now need lenders to take these savings into account so that consumers can benefit further through cheaper mortgages.”

The report can be read here.