How Much Is A New Build Property In Swansea?
Estimated reading time 4 minutes
Dreaming of buying a brand new house? Being the first person with a key to your new front door is a very specific kind of excitement — not to mention the idea of living in a property where you never have to deal with any previous owners’ taste in wallpaper or half-finished DIY projects.
There are plenty of practical benefits to buying a new build property, too, including some that will affect the price you pay for your new home.
The benefits of buying a new build property
Property is likely to be one of the biggest investments you’ll ever make, and usually, it doesn’t come with any guarantees. You’ll usually have had a survey of the property done before you buy it, but those aren’t always entirely accurate, and if you discover something’s wrong further down the line it’ll be down to you to get it fixed. New builds, though, usually come with warranties. Those can cover more than just the building — a new buid home will come with brand-new white goods, all of which will be under warranty too.
New build properties also have to meet new energy efficiency standards, which means they’re usually better insulated than older homes, with double or even triple-glazed windows, and a brand new boiler. All of that means your energy bills will be cheaper in the long run.
Buying schemes in Swansea
Developers may also offer extra incentives to prospective buyers, some of which can make a big difference to your bank balance. On some developments in Swansea, for example, developers are trying to tempt buyers by offering them upgraded kitchens and gardens, as well as paying the Land Tax. That’s not the kind of offer you could get from a normal seller!
In some cases, there might also be buying schemes available that reduce the asking price of a property. In Swansea, one such scheme is Help To Buy – Wales, which provides a shared equity loan of up to 20% of the property price. This offer only applies to developments registered with the scheme — so, again, it’s something only available with new build properties.
How much are new properties in Swansea?
The big question, then, is how much does a new build property in Swansea cost?
Looking across several new developments, prices start from around £180,000 for a two-bedroom apartment, and go all the way up to £695,000 for a five-bedroom, five-bathroom detached house.
If buying a shared ownership property is an option, you could be looking at something in the range of £135,000 for 50% of a three-bedroom house.
The majority of new properties in and around Swansea, though, tend to be two- and three-bedroom houses that are listed for around £250,000.
Are you selling your property first?
If you want to sell your house before buying a new property in Swansea, we might be able to help you.
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