The truth about new home resale values

The style and convenience of new build homes have become increasingly popular among prospective homeowners in recent years. However, the resale value of a new build is not always widely discussed.

In this article, we’ll be discussing the elements that contribute to the resale value of a new home and why these factors are so important if you’re considering putting your property on the market.

Initial premium and depreciation

Many new builds are sold at a premium as generally, the buyer will be the first person to live there. You’ll be moving into a home that has been constructed under the latest building and construction regulations and will follow the most up-to-date energy efficiency standards. This means you’ll be paying less in bills and upkeep.

However, your new home will soon lose its ‘new build status’, so you won’t be able to sell it at the premium you purchased it for. If you sell within a few years of buying the house, you likely won’t receive any of your money back or make a profit.

By taking a long-term approach, you probably won’t notice the drop in value. You’ll be able to gauge the state of the market and time it right when it comes to trying to sell it for the best price.

Location matters

The location of your property can have a significant influence on its resale value. Buying a new home in a desirable area like Gloucester can ensure your property remains competitive and appealing to potential buyers.

Many homeowners will be looking for a safe neighbourhood, access to local amenities, and plenty of things to do for all the family. The location of the property mustn’t be too far away from big cities or transport hubs, as this can be a key factor for commuters.

Construction quality

The quality of construction materials used can determine the overall durability and sustainability of your new build home. The developer of your home is an important consideration when choosing a new build, so it’s important to shop around and read customer reviews, check for any awards and accreditations, and ensure everything is in order during your development viewing.

It’s worth looking out for a sustainable design that inhabits safety, cost-effectiveness, and security. The home should boast excellent indoor air quality, an energy-efficient design, and optimal lighting and acoustics.

Customisation and maintenance

It’s always worth customising and upgrading your home where possible to increase its resale value. Whether that be a new high-quality roof, a brand-new kitchen with additional workspace, or natural hardwood flooring, each small change can make all the difference.

Many new buyers are more eco-conscious and are looking for “greener” upgrades. Perhaps you could consider adding solar panels, loft insulation, or zoned heating to comply with the latest energy efficiency regulations and appeal to prospective buyers.