Five benefits to buying a new build home

Buying a Shared Ownership home from a Housing Association like Peabody could mean you will be buying a new build property, rather than a second-hand home from an existing leaseholder, which is known as a resale property

Most new build properties are bought when they have not yet been built, also known as ‘off-plan’. Alternatively, the property has been built and you are waiting to complete on the sale of your home before moving in. Buying a new build property offers several benefits over buying a previously owned home as we discuss below:

1. New build homes come with a warranty

When purchasing a new build home, you will usually receive a 10-year NHBC warranty and insurance policy that protects you and your home for the decade ahead. Typically, this would be against your building’s foundations, roof coverings, ceilings and more, giving you peace of mind.

At Peabody and with most housing associations, there is also a one-year period commonly referred to as the ‘defect liability period’ (effective from the date the property is handed over to the developer, not the date on which you complete). During this time, the developer of your home is responsible for rectifying specified defects that occur in your property during this year.

2. Brand new fixtures guaranteed

A great benefit to buying a new build property is that, often most of the fixtures and fittings will be included in the purchase price of the home which usually you would have had to pay for yourself.

New fixtures will include a guarantee, from appliances such as the fridge-freezer and oven to entire bathroom suites. Everything in your home will come brand new from the manufacturer or supplier with no previous wear and tear and a full-length guarantee or warranty.

The issue with older properties is you can lose a lot of money and valuable time doing repairs, refurbishing, gardening or maintenance around your home. New build properties eliminate these issues giving you more time and money to use for yourself. You can put your feet up without any stress.

3. Environmental and energy efficiency 

Today’s new homes need to meet stringent environmental standards, from energy-efficient heating systems to water-conservation. Doing this helps to reduce the carbon emissions from new build homes which in turn help towards lowering utility and running costs both now and in the years ahead.

New build homes will also reflect the most up to date construction standards including sound insulation to window performance helping you to live in comfort, saving money whilst having a positive impact on the environment.

4. No chain at point of purchase

The house buying process can be a stressful time with many first time buyers needing to rely on a chain of property sales to complete on their house purchase. Thankfully buying a new build home means there is no chain!

This gives you more security when buying a new home as you do not need to rely on any other property sales. Once you have reserved your property you will be given a completion date so you can relax and plan ahead.

5. Clean and tidy. Move straight in 

Once you get the keys to your brand-new home, you’ll be welcomed by a fresh, clean home ready to move straight into. From the kitchen sink to the showers and fixtures and fittings, everything will be sparkling new so there’s no need to break out the marigolds and start scrubbing!

Each home at Peabody receives a final check and ‘sparkle clean’ before it is handed over to you, so you can start turning your house into a home right away.

Who is Peabody?

Peabody was founded by American philanthropist George Peabody in 1862 making Peabody the oldest Housing Association in the UK. With over 55,000 homes we are also one of the largest housing providers in London and the South East with over 111,000 people calling Peabody home.

We build high-quality homes and invest in great places where people want to live throughout London and the South East. Our ambitious house-building programme will deliver at least 2,500 homes every year and as a non-profit organisation, all the proceeds made from the sale of our homes is reinvested back into the business to deliver our social purpose.

London has been our home for over 150 years. Make it yours.

Featured Peabody Developments

At the Share to Buy London Home Show on March 23rd, Peabody will be exhibiting a number of available and upcoming Shared Ownership developments in London, including:

The Gallery

The Gallery is our new collection of one and two bedroom apartments available now through Help to Buy and Shared Ownership in Camberwell.

Many of the homes at The Gallery benefit from views towards Camberwell Green, inset balconies as well as private access to landscaped gardens.

Open plan living spaces and thoughtfully designed layouts all make the homes at The Gallery a great starter home for first-time buyers looking to live in a central location.

For more information, view The Gallery on the Peabody Sales website.

The City Angel

The City Angel is a striking collection of 70 studio and one bedroom Shared Ownership apartments located on City Road in Islington.

Located within Zone 1 at Berkeley’s landmark new development 250 City Road, The City Angel offers prime urban living above the buzzing superhighway of City Road that connects leafy, lively Islington to the tech start-ups of Old Street.

For more information, view The City Angel on the Peabody Sales website.

Battersea Reach

Battersea Reach is the final collection of studio, one and two bedroom apartments available through Shared Ownership located just moments from the River Thames in Wandsworth.

At Battersea Reach each home benefits from access to 24-hr concierge and a private resident fitness suite that buyers can enjoy.

For more information, view Battersea Reach on the Peabody Sales website.

Have a question for Peabody?

If you would like any more information about the homes available with Peabody or about Shared Ownership and Help to Buy, you can speak to our team on 020 7021 4842 or visit peabodysales.co.uk/get-in-touch