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New build or second hand?

(6 Posts)
fruitqueen Thu 06-Mar-14 16:45:03

I am in a dilemma and am hoping for some views here:-
I have seen an oldish property with loads of "character" which I really like, in a nice area in London , ( north) - but the place would need sprucing up and I can imagine the utility bills will be quite hefty considering it is not as energy efficient as I would like it to be.
Vs
A new build in a " not so nice" area .but its new and need no extra work to be done to it, and of course, more energy efficient.
Both are about the same price , the latter being a bit more spacious.

Which would be the better buy?

shoom Thu 06-Mar-14 17:36:26

I'd be swung by location and the other aspects that can't be changed (garden size and position, availability of car parking if you drive...) Is there a difference with how each house and area fits in with your lifestyle?

TunipTheUnconquerable Thu 06-Mar-14 17:40:52

Well it depends on how important character is to you and whether you've got the extra money to spend on fuel bills/improving the energy efficiency.

Hungermonkey Thu 06-Mar-14 19:13:05

Location every single time. Plus older properties tend to hold their value better than a new build for which you will be paying a premium .

fruitqueen Fri 07-Mar-14 09:54:30

Which would be a better investment? For rental as well as capital gains?

Hungermonkey Fri 07-Mar-14 10:12:58

Older in better location. Always and no contest. Newbuilds don't rise in value for the first few years as they are then " secondhand" and you pay a premium for being brand new.

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