We bought a new build house (5 bed detached)
Pros:
Everything is new (Boiler, Kitchen, Appliances, Electrics, Shower etc etc)
Building regs (electric smoke alarm, alarm system, wiring, smoke door seals)
The smallest bedrooms are not box rooms
Ensuites
Cons:
Tiny Gardens
Tiny Driveways
Most are built right on the road (ie no front gardens)
Parking outside a nightmare
Plasterboard dot and dab walls (good for hiding TV and speaker cables though)
No scope for extensions (be 100% happy with the house forever!)
The thing is, if you are buying a new build you really need to negotiate hard.
We got
£50,000 knocked off the asking price
Landscaped Garden with fence
Curtains and carpets
Upgraded Kitchen
Alarm System
This was a part-ex for our old house, which they gave us 110% market value for
I was quite adamant that if I didnt get what I wanted I would walk away, you have to be quite firm. You also need to really look hard at the surround area. They cram them in these days, so think about what it will be like once all the houses are sold. Remember, most families have two cars, but most new builds only have a driveway big enough for one car. What will the area be like when everyone is parking their second car on the road? Things like that.
The most important thing though is resale value. New houses loose money in the short term. Example is our neighbour a few doors down. They sold three years after moving in and lost £50,000. They paid full asking price as well. There are websites which tell you how much houses sold for. Might be worth a look (especially if the development is coming to an end.)
Just found a house on our development
http://www.rightmove.co.uk/property-for-sale/property-39029669.html
Purchase price for this style was £285,000, look what it's on the market for now!!! and they will obviously sell for less as every buyer negotiates a discount. This is a classic example of a new build property.
Big house by the looks of it.....but look closer. No dining room, no room for a conservatory, weird lounge layout and not THAT big to be honest.
Now compare it to this, an older house
http://www.rightmove.co.uk/property-for-sale/property-41264579.html?premiumA=true brilliant blank canvas, but obviously need a few grand to modernise it