Doer-upper vs New Build Homes
As first-time buyers, a home that’s a ‘doer-upper’ can seem an attractive way to get onto the property ladder, but is it really the best way?
Some of the main draws to purchasing a project house are that seems like a more affordable option meaning you could get more property for your money in the area you want. For some, the project is part of the fun, getting your hands dirty and getting stuck in customising your home to your exact specifications.
However, large scale renovations have their setbacks and what once appeared to be the more affordable option becomes a strain on resources. The upfront cost of a doer-upper may be lower, and you could potentially get a smaller mortgage, but you have to factor in the renovation costs. Then there’s not only the costs you plan for. With many renovations people find unexpected problems that cost time and money.
You also have to account for the amount of work required. Can you live in the property while it’s being renovated? If not, then you may be paying for two homes at once - the one you’re renovating and the one you’re living in. On the other hand, if you can live in your home whilst it’s being renovated, then you’ll be living on a worksite for the duration of the works, which can be disruptive to your life in many ways.
Have the best of both worlds
If you’re thinking of a doer-upper because of affordability, you could be better off with a new build instead. With a new build, you can make use of the Help to Buy scheme. You also won’t have to factor in any renovation or surprise costs. When you move into a Russell Home, you’ll also have the support of our aftercare team. Your property will also be guaranteed for 10 years under the NHBC Warranty, which means any issues with the property won’t have to come out of your pocket as they would a doer-upper.
Your bank account will also be benefiting from the fact that new build homes are more efficient, so your utility bills will be cheaper than an older building. They’re built to comply with current building standards meaning they use the best materials and insulation levels. At Russell Homes, we care about reducing our carbon footprint, so we don’t cut any corners. You’ll be greener and running your home will be cheaper.
If it’s the customisation aspect of a doer-upper that you’re looking for, then stop right there. Russell offers a “Designed for You” bespoke upgrades package so that you can choose some of the fixtures and fittings in your new home. From floor tiles to the work surfaces and appliances. You get to customise your home without getting your hands dirty.
When buying a new build, you’ll be the first to live in the property. It will be exactly as you want it from the moment you get your keys —no more ripping off old wallpaper or repairing old fixtures. Have we got you convinced? See our available properties today and register your interest.