It is fair to say that we are living through uncertain times. In both the political and economic climates things are more up in the air than they have been for a very long time, writes Tony Abel.
This kind of uncertainty doesn’t just cause jitters in financial markets; it has a very real effect on ordinary people as well. None of us like negative surprises, and that is why we are all in search of some certainty in our lives.
While this week’s inflation news has staved off an interest rate rise for the time being, most commentators agree that ongoing inflationary pressures mean such an increase is bound to happen sooner or later. That is why we are seeing people eager to move home now, and lock themselves into the extremely attractive mortgage deals available at the moment. They may not be around for long.
Inevitably in such times, buyers are looking to be sure they know what kind of home they are buying as well. No-one wants unpleasant surprises down the line, but now more than ever people want to know that their new home is not going to spring a nasty financial shock on them in the months and years to come. This is one of the big reasons why the popularity of brand new homes has reached such heights.
One of the big attractions, of course, is the ten year NHBC warranty, which gives huge peace of mind that there will be no big repair bills for at least a decade. But increasingly buyers are seeking reassurances that those little snags that pop up with a brand new home will be sorted out quickly, and properly dealt with.
The builder’s reputation for ‘doing the right thing’ is vital, particularly in the light of media stories about rogue home builders – one or two with big national brands – who appear to have done anything but the right thing.
Buying used may sometimes seem cheaper. But that comfortable feeling of bagging a bargain can soon disappear when the surveyor has a good look around, or even worse, after you have moved in, and you realise there are things which need repairing or replacing.
A brand new home will also almost always be cheaper to run, as well. We build all our houses to have an ‘A’ rated EPC, which means much lower energy costs, not to mention the good feeling that your lower carbon footprint is minimising your impact on the planet.
Alongside all of this, the process of buying a new home avoids the stress and uncertainty of a chain, making the move quick and easy.
Small wonder, then, that in these uncertain times the appeal of buying a brand new home is compelling. Certainty-seekers just need to be aware that not all new homes are equal, and they should still shop around to ensure they are getting exactly what they want.