For buyers of all ages and backgrounds, buying a new build home is an attractive prospect that comes with many benefits. While older properties are renowned for their character, newer homes have lots of appeal that simply can’t be found elsewhere. 

From energy efficiency to convenient travel links, let’s run through the many reasons why buying a new build home is often the best way to go. 

1. Energy efficiency

Keeping your bills low is the goal for any homeowner, and with a new build Shared Ownership property, this is made even more manageable. That’s because 86% of new builds have an A or B Energy Performance Certificate (EPC) rating, compared to just 5% of older properties, according to the Home Builders Federation. 

New build homes also emit 65% less carbon than older properties, cutting annual emissions by 2.29 tonnes per home. So not only will you be saving on your bills, but you’ll be helping to save the planet, too!

2. Move-in ready 

Moving into a new home can be a pain, especially if you buy a fixer-upper that requires a lot of work to make everything feel homely. One of the most immediate benefits of buying a new build Shared Ownership home is that everything’s ready for you from day one. Our homes are decorated with modern furnishings and fittings that should suit any taste or preference. 

That being said, you can still decorate your new build home if you choose to (despite what common Shared Ownership myths may suggest), so you can put your stamp on it from the moment you move in. You’ll just need permission if any changes affect the structure of your new home. 

3. Handy transport links

Older homes can sometimes be located far out in the countryside, away from amenities like shops or bus stops. This is great if you’re looking for peace (and isolation), but can be tricky if you’re a growing family or first-time buyer working in the city. 

New builds are often better located, and the construction of new build estates or apartment blocks factors in local amenities to make living there easier for everyone. This means close proximity to corner shops for last-minute essentials, and nearby bus or train stations to make your commute that bit smoother. 

4. Built-in community

New build Shared Ownership homes are often located alongside other Shared Ownership properties, or as part of a neighbourhood of similar homes. While the Shared Ownership model is suitable for anybody who meets the eligibility criteria, this means you’ll often live near similar homeowners to you; creating tight-knit communities in exciting locations across the UK’s most in-demand cities. 

5. No chains, no stress

If you buy an older property, there’s often several buyers and sellers involved in the property chain. While this isn’t an inherently negative thing, it does open you up to more frequent breakdowns along the way. The buyer of your home might pull out, for example, or the owner of the property you’re moving into might change their mind. 
For new build Shared Ownership homes, this problem doesn’t exist. You may encounter smaller chains if you’re buying a resale property, but for our new homes, you’ll be the first owners to move in. This means you’re not reliant on everyone else to complete simultaneously, and you can get on the property ladder much faster.

	New build homes	Older properties
Energy efficiency	86% of new build homes have an A or B EPC rating, keeping energy bills low	An estimated 5% of older homes have a high EPC rating, so you could be paying more
Move-in ready	All of our homes are furnished and modern, so you can relax from day one	Older homes may need extensive refurbishment or repairs, delaying move-in
Handy transport links	New build homes, apartments and flats are often located in close proximity to shops, schools, and travel links	A lot of modern infrastructure is built in popular urban areas, whereas older homes might be isolated in the countryside
No chains, no stress	Most new build purchases are just between you and the developer/property manager, avoiding troublesome chains	Most older homes will be bought or sold as part of a lengthy chain, and could be subject to probate

Downsides to new builds

While there are many benefits to buying a new build home, there are a few downsides that are worth considering. These can include: 

• Higher prices: Many new builds have a higher cost than an older home out in the countryside; often due to their prime locations and modern amenities. However, the Shared Ownership approach often negates this higher pricepoint, thanks to the ability to purchase shares that suit your personal budget. 
• Space limitations: There’s a perception that some new build homes have less space than older properties, due to many new homes needing to be built on one development. While this isn’t always the case, you have the option to view all of our properties and make up your own mind prior to signing a contract. 
• Leasehold ownership: Many new build homes – particularly flats and apartments – operate under a leasehold agreement. This means that you’ll need to pay a service charge or estate management fee for the ongoing maintenance of your surrounding area. With all of our available homes, you’ll have your service charge and rent costs outlined from the start, so you can avoid any unexpected fees. 

Is Shared Ownership only on new build homes?

Not all new builds operate under the Shared Ownership scheme, but almost all Shared Ownership homes are new builds. This is because many homes and apartments are purpose-built by registered providers to work under the Shared Ownership model – opening up home ownership for as many people as possible. 

All of our available properties, for example, are new build homes that are ready to move in from the moment you sign the contract (providing they’re already built!).

Are new build homes more expensive?

New build homes can sometimes be more expensive than older properties due to their ideal locations and modern amenities. However, with Shared Ownership, the cost of getting on the property ladder is reduced due to only buying a share of your new home (which, in turn, reduces your rent and mortgage payments compared to a traditional purchase).

Are new builds better than old homes?

When comparing new builds and older properties, it’s hard to decide what’s “better”. One size doesn’t fit all, and the unique charm of a historic home might appeal to certain buyers more than the modern conveniences of a Shared Ownership alternative. Make sure that you attend plenty of viewings and make up your own mind on what’s right for you.