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complete kitchens, bathrooms, roofing and energy- efficiency measures at scale – and close to cost price – whereas the picture is different for individual buyers. “A private buyer carrying out the same work individually will often pay considerably more, while also dealing with contractors, delays, planning issues and the risk of unexpected costs. Once these expenses are added, a seemingly cheaper renovation project can end up costing more than a comparable new build home.” He adds that, for many first time buyers, buying a well-designed new build can be a more economical, practical choice. “New homes generally provide greater energy efficiency, lower running costs, fewer immediate maintenance bills and a chain-free buying process.” He warns, however, that a new build home isn’t automatically a sound investment, “Buyers need to select the right unit, in the right development, from a reputable developer, and avoid overpaying for features that may not translate into future resale value.” Chief Operations Officer at Share to Buy, Nick Lieb, notices that today’s first time buyers aren’t just considering the purchase price, they’re looking at the total cost of homeownership. He accepts that older-style properties can be charming but warns buyers of the potential cost of bringing them up to modern standards. He said, “While a fixer-upper may appear to offer better value initially, rising labour and material costs mean renovation budgets can quickly spiral, and many buyers simply don’t have the financial headroom to absorb unexpected expenses on top of saving for a deposit and covering moving costs.” He thinks that the desire for certainty is one of the key reasons that so many buyers gravitate towards new build homes. “Buyers know exactly what they’re purchasing and can move into a home that’s ready from day one, without immediately budgeting for a new roof, kitchen, bathroom or boiler. The absence of an onward chain can also make the buying process considerably smoother, reducing delays and the risk of transactions falling through.” SNG’s Sales and Marketing Director, Lisa Moran, explains that, as they are built to the latest energy efficiency standards, many new homes feature high-quality insulation and low-carbon technologies such as air source heat pumps and solar panels. “These features not only help reduce household energy bills from day one but also spare buyers the considerable cost and disruption of retrofitting an older property to the same standard.” She explains that new build homes come with a guarantee that the developer will fix any issues that arise with the property, which is usually covered for 10 years.“ New build warranties also help keep costs and risks lower for the first few years of homeownership, giving buyers peace of mind.” Buying new build can also entitle buyers to some financial support. Rebecca Littler, Group Sales and Marketing Director at The Hill Group, says that her company wants to make the journey on to the ladder as smooth as possible, “Which is why we offer schemes such as Deposit Unlock, enabling buyers to purchase a new home with just a 5% deposit. On a number of our homes, we will also match a buyer’s deposit by up to 5%, giving them even more buying power from the outset.”
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New build homes are an excellent option for rst time buyers, offering a range of practical and nancial bene ts that make getting on to the property ladder more accessible. One of the biggest advantages is there is no onward chain, which typically means a faster, smoother purchasing process with far less risk of delays or of transactions falling through.
A seemingly cheaper renovation project can end up costing more than a comparable new build home
again at the builder’s merchant. The doer-upper was once seen as a way for first time buyers to get on the ladder, but also to make money when the property was eventually sold. This is no longer considered a sure thing, so many are opting for convenience rather than taking the risk.” THE CASE FOR RENOVATION But some property experts believe that buying a home which needs work can save you money and result in the home of your dreams. Build Budget Expert, Owen Gartside, points out that currently one in four sales fall through, as, when surveys come back, buyers are put off by the potential work needed which could be a factor in them eventually opting for a new build property. He notices that many buyers are frightened by the cost and timeframe of potential refurbishments, “One of the biggest reasons people don’t undertake build projects, or who would prefer to take on a fixer upper but go for the safety of a new build, is fear. And a route to conquering fear is education.” Gartside offers free advice plus a subscription service for under £1 per day via his website buildbudgetexpert.co.uk where would-be- buyers and homeowners can receive advice and help on all kinds of renovation and refurbishment. “People can learn how to navigate the process and budget properly from right at the very start, in this case when considering what to buy, through to the end.This applies to homeowners and would-be homeowners and is all about making sure people have the information they need to make the best possible decision, whether that’s to go new build or to go fixer-upper. They don’t need to go it alone.” THE CASE FOR BUYING NEW BUILD James Nightingall, of property search service HomeFinder AI, feels that the decision between a fixer-upper and a new build is increasingly about certainty, convenience and the property’s entry price, rather than simply whether initially it seems to be cheaper. He warns that developers are able to
Lisa Moran , Sales and Marketing Director, SNG
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Ultimately, there’s no one-size- ts-all answer. A renovation project can be incredibly rewarding for buyers with the time, budget and appetite to take one on. But, for many rst time buyers, the certainty, lower maintenance requirements and reduced running costs that come with a new build make it the more nancially manageable option.
Nick Lieb , Chief Operations Of cer, Share to Buy
First Time Buyer October/November 2026 97
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