Everything You Need To Know About Buying (And Selling) A New Build Home

July 2, 2025

Let’s be honest – buying a new home is exciting, but it can also feel a bit overwhelming. Whether you’re a first-time buyer or looking to move to another part of the country, understanding the ins and outs of new build homes can make your journey so much smoother.

That’s where this guide comes in. We’ll walk you through everything you need to know, from figuring out what a new build is really worth to making sure it fits your budget . We’ll also answer some common questions, like “Do new builds lose value?” and “What is affordable housing on a new build estate?”

What is a new build?

A new build is a home that’s brand new and has never been lived in, usually bought straight from the developer. It could be anything from an off-plan purchase, where construction hasn’t even started yet, to a nearly finished or fully completed home. New builds include everything from flats and cottages to terraced and detached houses.

Are new builds worth it?

If you’re wondering “Should I buy a new build?”, there are plenty of advantages to consider. For starters, they’re a lot more energy efficient than older builds thanks to modern building techniques and materials – meaning lower bills and less wasted energy.

One of the biggest benefits of buying a new build is the Buildmark warranty protection which covers major structural issues for up to ten years. Buildmark protection is provided by the National House Building Council (NHBC) but there are other warranty providers out there.

It’s not just a safety net as this warranty can give you peace of mind knowing that any subsidence or structural defects that could pop up down the line won’t end up costing you a fortune – a particularly useful benefit for first-time buyers. Before you move in, your solicitor should provide you with your warranty insurance certificate and policy booklet, which outlines what’s covered in the warranty and what the NHBC is responsible for.

New builds also come with the bonus of being chain-free, which means there’s no one else to hold things up in the process. This cuts out the common headaches of buying a previously owned home, like delays or complications from others in the chain. It makes the whole process quicker, easier, and far less stressful.

Another big plus of new build homes? Everything is, as the name suggest, new, meaning less maintenance, decoration, and repairs, so you won’t get hit with any surprise expenses down the line.

One last benefit to mention is that most new builds are freehold. Developers have been unable to sell new-build homes as leasehold since 2019, so with a new build you own both the building and the land outright forever. This means no ground rent or service charges to worry about, unlike leasehold properties.

The buying process for new build homes

If you’re still wondering “Should I buy a new build?” let’s walk you through what the buying process typically looks like for a new build property.

Start with your finances

The first step in buying a home is getting your finances sorted. You’ll want to assess your financial situation, check your credit score, and set a clear budget. This usually means speaking to a mortgage advisor or bank to secure a mortgage agreement in principle, which tells you how much you can borrow and helps guide your property search.

Keep in mind that some lenders have specific criteria for new builds, such as stricter deposit conditions or extra checks on the property’s value and quality, so it’s important to work with professionals who understand the ins and outs of new build mortgages. There are also affordable home ownership schemes that can offer extra support and potentially open up more options.

Research and pick a development

Now that you’ve got a solid budget in mind, you can start looking at developments that fit within your price range. Your pre-approved mortgage should guide you, helping you focus on properties you can afford and saving you time and effort.

Pay the reservation fee

Get legal help

Next, appoint a solicitor or conveyancer who’s experienced with new builds. The process typically involves exchanging contracts within 28 days of reserving your property and paying a deposit (usually around 10% of the price.) This ensures that all the legal paperwork, like reviewing the purchase agreement, conducting property searches, and checking contract terms, is handled properly.

Final steps and moving in

The last stage of the buying process involves your property developer issuing a notice to complete (essentially confirmation that the property is ready).

Once the remaining balance is paid, ownership is transferred to you – and you officially become a homeowner!

What is affordable housing on a new build estate?

Wain Homes have new build homes available in several great new developments: Pinfold Manor, The Paddocks, Linley Grange, Rectory Woods, and Kingsley Manor. These all offer great affordable purchasing options, including shared ownership, part exchange, or access to Own New’s mortgage rate reducer scheme.

These options, together with your pre-approved mortgage, can help reduce overall costs and make homeownership even more attainable. For more information on affordable housing options on new build estates, take a look at all our buying schemes.

Costs to consider

When buying a new build home, it’s important to think about both the upfront costs and the ongoing expenses:

Upfront costs:

Reservation fees
Deposits
Stamp Duty Land Tax

Ongoing costs:

Ground rent
Council tax
Service charges
Maintenance and repairs

We’ve gone into more depth about the cost of buying and moving in our helpful guide.

Do new builds go up in value or do new builds lose value?

One of the most common questions we get asked is “Do new builds lose value?” Let’s clear up this myth: new builds don’t automatically depreciate. While there might be a slight dip at first, much like a new car, homes in well-located, high-demand areas typically appreciate over time. It all comes down to location, build quality, and local market demand. Keeping up with regular home maintenance, making smart upgrades, and keeping an eye on the property market can all help increase its resale potential.

Interested in purchasing a new build property? Wain Homes have a huge selection of gorgeous new builds available all over the country. Contact us today for advice and guidance. Your dream home is waiting – find your kind of perfect today!

August 25, 2023 Customers