Should you, as a landlord for buy to let or for personal occupation, buy a brand-new home?
Well, let’s start by looking at the numbers …
Over the last 10 years, 3,069 new homes have been built in the Warrington area
That is a lot of bricks and mortar! Roll the clock back twenty years in the Warrington property market, and there were two distinct camps of property buyers – folks who would only contemplate living in period character properties with their original fireplaces and beams, and those people who preferred the low maintenance of a new home. Old period homes were ridiculed as money pits by new-home aficionados, while new-home owners were accused of buying boring boxes, all vanilla, all the same, homogenous and bland.
However, it’s not as black and white as that anymore – or not as I see it in Warrington. New homebuilders are now trying to change their cookie-cutter uniform rows of suburban boxes into developments that are as individual as the families that love in them, thus increasing their appeal. Nonetheless, whether you choose a stone cottage, archetypal Victorian semi or terrace, 1970’s/80’s functional home or a untouched new home, whatever home you buy, it can result in supplementary costs that are often not taken into math’s when buying by potential homeowners or buy to let landlords.
So looking at the numbers in greater detail, let’s see what type of new homes people have been buying in the Warrington area ..