If you are looking to buy a home for yourself and your family, there are plenty of options to consider. Some may prefer a home that has been previously owned, whilst others may consider a new build.
New builds are rising fast, so there are lots out there to choose from; ideal if you want plenty of options to consider, and they come with a premium. However, that doesn't mean that there is not any wiggle room.
Studies have found that new build homes in Britain are often sold at as much as 14% less than the original asking price. This means that there is always a chance that you can reduce the price that you pay for your brand-new home.
Let's look at that in real money
Carrying on with this data, the average new build home in the UK sells for £394,699, which, compared to other house prices, is 36% higher. However, let's take this one step further. The average new build home is sold at £458,452, meaning that those who buy them pay £63,753 less than the asking price—a considerable saving.
Differences around the UK
There is some excellent news for those who live in London. The sale price on new builds in the capital can be as much as 20% lower than the asking price. There is also a high reduction in the South West and the North East, whereby the amount is around 13% lower.
It isn't as good news for those in Wales, the East of England or the East Midlands. They, on average, only save around 2%. That said, you should consider that 2% off of the sale of a property, which can cost you a few hundred thousand pounds, can still be quite a lot of money to save.
Of course, the idea of a new build is not for everyone, and you may want to consider whether or not they are the right option for you. If you think about buying a new build, you will need to go against some of the usual thoughts of those in the UK and try your best to haggle.
It might feel uncomfortable at first, but we can promise you that it will be worthwhile doing and can save you a considerable amount of money.