Old v new

How much could a new-build home save buyers?

Homebuyers may have to pay more than £50,000 to upgrade an older property to the same standard as a new-build home, according to the latest research.

Data from the Home Builders Federation (HBF) has revealed that making older homes energy-efficient could result in bills of £8,850 for rewiring, £6,185 for central heating and £4,900 for new windows and doors.

The HBF suggested that these costs could be avoided by choosing to buy new-build homes, as just 26% of second-hand homes had an energy efficiency rating of A to C, compared with 94% of homes built in 2016.

“Buyers of new-build homes enjoy a huge number of benefits over those purchasing a second-hand home,” said Stewart Baseley, executive chairman of the HBF.

“This report helps to highlight the hidden savings that buyers of new-build homes make.

“£50,000 is a lot of money by anyone’s standards, and this new research emphasises just how much new-build homebuyers really get for their money.”

Other potential additional costs for second-hand buyers include £7,900 for a new kitchen, £4,175 for external rendering and £4,000 for roofing work.

New-build homes also come with a warranty protecting the buyer from liability on structural problems within the first 10 years.

“Upon moving into a property that is designed for modern living, there are all the advantages of living in a home with brand-new fixtures and fittings and the latest energy efficiency technologies,” added Stewart.

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