Existing homes have their own charm, we admit. Particularly if they’re period properties, or family heirlooms! But, new build properties are uniquely desirable. Part of their allure is the fact that they are totally fresh, a home that you can mould to your exact liking, with no renovations needed. There are many more advantages to buying a new build property than its newness.
Existing homes, depending on their age, can have existing or structural issues. This isn’t often the case with new build homes. Every year, new advancements in insulation and construction occur, which can result in warmer, drier properties and sometimes, even greater energy efficiency.
In New Zealand, new build homes are exempt from loan-to-value restrictions. When you’re searching for new build mortgages, your loan-to-value ratio is a major factor that lenders deliberate over when deciding to approve you for a mortgage. Without LVR restrictions, you could finance your new build property with less than a 20% deposit!
New builds are freshly built, often to your requirements, and finished to a premium standard. Many new build homeowners can choose the quality finishes in their property – ranging from the choice of tiles in the kitchen, to the plush carpet in the living room. This is contemporary living at its finest, and, depending on your contractor, you could move into a fully functional smart home! Older, existing properties don’t generally have these high-tech applications.
New Build homes that are energy efficient, built to a high-standard, and covered under incentive schemes can often have reasonably low bills. They’re fully compliant to recent building regulations, which testifies to their greater energy efficiency. As the cost of energy continues to rise, the low bills that a new build property provides are increasingly appealing.
At Simpler, we really are all about making your life as simple as possible. Navigating new build mortgages shouldn’t be complicated or expensive, and with us, it’s not! Interested in purchasing a new build, and looking for the right mortgage to do it? Contact Simpler today.