Shared Ownership Homes: New Build vs Resale

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Should I buy a new build or resale home through Shared Ownership?

When it comes to buying your own Shared Ownership home, the decision to purchase a new build or resale property is a big one. Do you prefer the clean lines of a contemporary home, or the character and charm of an older property? Do you want to move into a brand new neighbourhood or somewhere that already has an established community?

Our New Build vs Resales article takes a look at the key differences between the two types of home to help you decide which is right for you!

New Build or Resale

New Build

New build homes are purpose-built properties that are usually part of a larger development or area regeneration. A buyer of a new build property will be the first person to live in the home.


Resale properties are homes that a current owner bought through the Shared Ownership scheme and wishes to sell on.



New Build

A big positive of buying a purpose-built home on a new development is that you won’t be part of a moving chain that could threaten your completion date. There also won’t be any personal issues with an owner as you’ll be dealing directly with the housing provider. However, if there are any delays in completing the building work on a property bought off-plan, this can affect your move-in date.

In order to purchase a new build home, you would also need to attend a financial interview where a calculator from the HCA will be used to work out the share you should be buying; this may be more than the share that the property was originally advertised at.


With a resale property, you can see exactly what you’re getting for your money. You will be able to view the property and fully envision yourself living there, something that you don’t get when you buy an off-plan home that’s still in the process of being built.

The overall principle of buying a resale home is the same as purchasing a new build property, however you would not be required to attend the usual financial interview because the share you are purchasing must be equal to – or higher than – the share that the current occupant owns.


Style & Spec

New Build

Most new build homes are modern and come fitted with high-specification appliances and materials. New homes must also comply with the latest building regulations, ensuring that they include the most up to date heating systems and insulation. This is often preferred by first time buyers who are keen to settle into their new home straight away, rather than worrying about additional maintenance costs.

New homes also offer a clean slate for buyers who want to put their own personal stamp on the home, however, new builds often need time to ‘breathe’ and you may be advised not to hang pictures or paint the walls for a period after you move in.


Older properties will generally have a sense of character about them. Whether you like the period features of an older property, or you may appreciate some of the previous owner’s handiwork around the home, they’re visually quite different from a new build.

A buyer of a resale home will still be able to decorate and style their home according to their taste, however this often isn’t quite as easy with an existing property as the home will have previously being altered and fitted out to suit the tastes of the previous occupants; consequently, it may prove trickier to start afresh without doing some more work first.



New Build

The asking price of new build homes are usually higher than those of resale properties as they tend to benefit from a lot more features and mod cons. The rent on a new build home is often more expensive too as this will be based on the percentage of the share you’re not purchasing; the service charge and ground rent on a new home also tends to be higher than those of older properties.

However, new build homes also benefit from warranties which can save money if anything was to go wrong in your property further down the line. These homes are also usually much more energy efficient which can save hundreds of pounds on unexpected heating bills during the colder months!


The initial purchase price of a resale property can often work out cheaper than that of a new build home. The rent on a resale property also generally works out considerably less than that of a new build of the same type and size as these rent increases will be set out in the lease; they are also based on consumer price inflations, not on rising property prices.

However, older homes often need a bit more love than their new build counterparts. The cost of renovations, decorating and general DIY work will all add up, plus older homes are often not as well insulated or energy efficient which can increase your monthly outgoings.



New Build

Moving into a previously established neighbourhood may not appeal to all buyers. When moving into a home on a completely new development, you’ll have the opportunity to integrate and make friends as part of a brand new community. Plus, you’ll likely come across a number of other first time buyers who can share the experience with you!


Most existing homes are situated within already established neighbourhoods; if you already live in the local area, you may even know your new neighbours before you move in! Resale homes in more established areas may also have Neighbourhood Watch action groups and other similar committees already in place.


If you’re interested in purchasing a part-buy part-rent home, you can find out more via our article index and Shared Ownership terms and conditions on Share to Buy. You can also start your search for a new build or resale home on our property portal, using key filters such as location, number of bedrooms and deposit amount to find your ideal home.