Ladybird Living – Your London Estate Agent
What’s really holding you back from buying a newly built home - facts or myths?
What’s really holding you back from buying a newly built home - facts or myths?
If you’ve been overlooking newly built homes in your search, you might be relying on outdated misconceptions. This blog will clear up some of the most common myths related to newly built homes.
Myth 1: New Homes Are Always More Expensive
It’s a common belief that new builds come with a higher price tag, but that’s not always true. In today’s market, developers are often pricing competitively to encourage sales, especially where they have completed homes they want to sell quickly.
Developers may also offer incentives such as help with your deposit, mortgage contributions, or covering part of your stamp duty – all of which can make a new-build more affordable than you think. If you’ve ruled out new-builds based on price alone, it’s worth taking another look.
Myth 2: Developers Don’t Negotiate
Many buyers assume developers won’t negotiate, but today’s market conditions prove that’s not the case. Unsold homes cost money to hold onto, so developers are often willing to offer extras or financial incentives to get the deal done.
In the UK, it’s common to see incentives such as upgraded kitchens, flooring packages, or even contributions towards legal fees. In a slower market, developers may be more flexible than private sellers, so it pays to ask.
Myth 3: They Don’t Build Them Like They Used To
Some buyers worry that modern homes are lower quality than older ones. But the reality is that quality has always varied depending on the developer, not the era. What matters most is choosing a reputable developer with a strong track record.
All new homes come with a warranty, usually the 10-year NHBC guarantee (or similar), which provides peace of mind if issues arise. To assess quality, you can research a developer’s track record, ask current owners about their experience, and work with your estate agent, who often knows which developers deliver the best results locally.
Myth 4: You Don’t Need Your Own Agent for Newly Built Homes
Another common misconception is that buyers don’t need an agent when purchasing directly from a developer. In reality, it’s even more important to have professional representation in these situations. While developers have their own sales teams, their priority is to sell homes for the best price on behalf of the company – not necessarily to represent your interests.
Having your own agent gives you independent advice, helps you understand the contract, and ensures someone is looking out for your best interests throughout the process.
Conclusion
Many buyers let these common myths influence their decision about purchasing a newly built home. Don’t let misconceptions keep you from exploring the great opportunities available in today’s housing market. If you’re interested in newly built properties or want to see whether a new build fits your budget, our team at Ladybird Living is here to help.
The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances.
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