new build homes

[GeX]

Hi all

We've begun house hunting, and have been looking at new build developments.

They're attractive because of the help to buy scheme. 20% equity loan topping up the deposit to 25% with only minimal up front from us.

There are older properties near some of the new build developments, they're cheaper - but without the 20% equity loan they're not as affordable right away.

We're going to speak to a mortgage advisor about our options - I'm not attempting to gleam all we need to know from GD

But has anyone here bought new build, how was the experience - would you rate the home builder? Also, any people who work in the building trader - anything you've seen that'd put you off buying with some of the new build developers?

Some developers we've looked at, Barratt, Taylor Wimpey, Millers and Seddon. We like the layout of one of the Barratt houses, it's them that we're leaning toward.

 

[GeX]

Hi,

Pretty sure the 2nd wave of the government's equity loan scheme had now kicked in and it works on 2nd hand houses too?

It's different, gov will vouch for a % of the mortgage to reassure the lender - but it'd still be a 95% mortgage, with the rates that that'd attract.

New build - lots and lots of plaster board, which means minimal sound insulation throughout the house.

Always go old but properly built houses. Just have cash in the bank for repairs. If you want to hear what the neighbor is watching on the telly they're great...

Maybe I'm spoiled here in France. Exterior walls are 2 foot thick stone, and interior are 1 foot thick stone walls. No plasterboard in sight (except a few extra bathrooms we've put in).

It totally depends on the developer, which is what I'm asking about. I grew up in a massive Victorian house - old and built well - couldn't hear next door. I've lived in new build apartment buildings and heard nothing of next door - but in the house we lived in before this apartment, we could hear next door.

New build doesn't always mean paper thin walls.

 

[GeX]

New build never

Give me 100 year old character house than a plaster board box anyday!!

Damp included.

These don't exist in our budget and target areas!

 

[GeX]

It's not free money though, you've got to pay it back, so surely you are just kicking the can down the road and generating a problem to deal with in the future?

It's interest free for 5 years, and with expected salary increases (hell even without) we'd be able to pay it back by putting money aside every month - and it means that the money we're spending on rent atm goes into paying our mortgage - not someone elses!