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Renovation vs new build

November 2016

Homeowners who want to create their dream home have two choices – they can renovate an old house, or they can buy a brand new one.

It’s not so much of a dilemma if you’ve ever tried the first option – what you see is often not what you get – with lots of hidden problems and costs emerging as you work your way through the renovation.

A close look at the pros and cons reveals there are lots of advantages in going for new.

For starters, a new build house is a blank canvas, ready to decorate to your taste, in your own good time. You can live comfortably and stylishly while creating your own individual look and feel.

You’ll have already chosen your preferred specification, with fixtures and fittings that suit your taste, from our range of schemes.

New build homes come with a ten-year NHBC warranty covering structural defects, which adds up to real peace of mind – no-one wants to move into an older house and find those nasty secrets lurking…

It also easier to move into a new build home, because there’s no upward chain of people whose timetable you have to work to.

And finally – and this is a big incentive – the Help to Buy Equity Loan Scheme can help any new build buyer in England and Wales with a deposit of at least 5%.

The Government will lend customers up to 20% of the property price interest free for five years, so means buyers can access cheaper mortgage products with only a 75% mortgage requirement from their lender.

  • Need more information? See www.storyhomes.co.uk/buying-from-story/help-to-buy/