Reasons not to buy a new build house or flat
- They’re like new cars – lose money as soon as someone lives in it!
- They’re often overpriced compared to older property
- If you buy off-plan you might be surprised in a bad way when you get your
keys if they haven’t fitted the kitchen you expected
- They can be smaller than they look – some sneaky developers use 3/4 size
furniture to make them look bigger.
- The layout can change if you buy off-plan. We’ve heard of horrid cases where
people found great structural pillars in the middle of their open plan lounge.
- You’d not buy anything else without seeing it first – so why do people expect
buying off-plan to go well?
- You have to do the snagging
- You might be living on a building site
- The house might never get built if the builder can ‘t sell enough houses
on the estate
- Roads are often unfiinished some time
- They often have very little space between the houses
- They may be mixed in with social housing – affordable housing is often a
condition of building a new estate – this can devalue your home.
- Large parts of estates have been sold off for social housing when they have
failed to sell as inflated prices.
- The gardens seem to lack top soil and have more rubble than soil!