To ask if there’s anyone with house buying experience who can tell me if I’m about to make a financial mistake?!

This doesn't make a lot of sense to me - why would you spend more on a house, plus stamp duty and moving costs, that's only a tiny bit bigger internally plus has less space externally?

And if there's just the two of you why do you both need en suites in the new house if there's a family bathroom, and why would this necessitate a move from a house where there are already the same number of bathrooms as there are people?

When you say you don't want to renovate, do you mean your current home needs e.g. new kitchen and bathroom, walls knocking through etc?

My main concerns would be transport links. Will your daughter want lifts to town or nearest city etc? Do you want to be a taxi? If you're closer to a bus etc now then stay.

Your current house with driveway and garden sounds much better. All houses need maintenance. Just spend some time finding a tradesman you trust.

I wouldn't buy a new build over any build from Victorian to Post war. The 70s was probably the last time homes had internal brick walls. These new build houses are a ticking time bomb and won't last 30 years. Stick dont twist even if it is shiner and newer.

You’re giving up a drive and a bigger garden for an en suite. Honestly, kids don’t need an en suite. It’s just one more messy space to clean. Your house now seems like a good investment relative to a new build and worth holding onto it given you likely bought at the height of COVID price wars.

As PP has said, it's not an awful lot more space, and will be taken up by the en suite. If there's only two of you, a child using a 'family bathroom' doesnt seem that much of a hardship.
If you still have the floorplan for yours, take a look at the impact on actual living space, which rooms are large/smaller.

there is a premium on new homes.
Personally I'd leave it for a couple of years, see how the values settle, let someone else deal with the snagging - and indeed see how the new builds and the community around them are generally.
You'll probably that the prices of the two properties are closer by then.

Oh god i absolutely would not move to the new build.

Less garden, less parking etc for more money. No, no, no.

HI, OP -

It sounds like Bedroom 4 is either very small is off another Bedroom. Is that right?

If so could you not convert this to an en suite for DD? Perhaps even with a built in wardrobe if it is large.

Our home is much older than yours and the roof area is rather large. A few years ago we replaced about 60 roof tiles and a good deal of guttering for under £1000.

I appreciate that prices have increased a lot. I appreciate that you may yearn for a new build in a way that money does not address. But I think you could get the en suite and the sound roof without the stress, financial and otherwise, of the move, if that is really the issue.

We bought what we could afford and made it a home. Don't love the house but it’s functional. DC had their own floor and bathroom. They excelled in the state school and college of their choice and are now doing the degree they wanted to do.

What I am trying to say is financially this house wasn't the best investment but its functionality and location to good schools has enabled my DC to reach the goals they set themselves.

I have made loads of financial mistakes on property but there has always been an upside (we moved abroad and DC had to learn a new language and was schooled in this language til they were 9 their memory and recall is excellent and they were bilingual).

Just my perspective on my own life choices I am not giving you advice in what is best for you.

There'll be lots of opinions on what is a better house.

I wanted to say re the 'premium' thing - yes you do pay a premium to a certain extent, because everything is brand new. But you'd pay the same premium if an older house had just put in brand new kitchen & bathroom. The upside is there is no major reno work for years, and this is why they have the extra value and you get to benefit from spanking new kitchens etc which is fantastic, many people dream of new kitchens for years before they can afford to do the reno work. The downside is if you want to put your own stamp on a property by changing anything, you'll effectively be paying for that twice.

In terms of values - here's a concrete example. The house I'm in is 10 years old and I'm its 3rd owner. From land registry, it was £179k as a new build in 2014, £238k in 2018 and I paid £280k in 2023. Absolutely nothing has been done to the property in that 10 years except paint colours - original carpets, wallpapers, all fittings etc all the same. I'd say that the first owner did not come off badly! And it only matters if you want to sell early on, anything long term it'll totally even out.

All the best, trust your gut with how you want to live- only you can answer that.

Don’t do it OP. Your 70s place will continue to rise in value at a much better rate than a new build. Websites like https://www.themodernhouse.com have popularised the properties, which younger generations see as period pieces in their own right. Also new build estates often extend over time (ask the agent and and a solicitor about this), thus devaluing the original part of the estate, which becomes a through road. I reckon if you are into newbuilds it’s easier to buy brand new with the builders warranty intact, is this brand new? I wouldn’t do this if I was in your position. Could you extend easily?

I wouldn't move house to avoid replacing a roof. If you have a good roofer it is not stressful. We used a roofer recommended by several people, they were not the cheapest and they had a long waiting list. The work was not stressful - noisy if you are at home during the day, but you don't need to be there. The roofers just got on with it, they didn't need to come in the house, and there was little to discuss once they had started.

Sorting out the garden I can see might be more complicated, but I'd also consider how necessary it is.

Work inside the house can be more disruptive and stressful, but it doesn't sound like you need to do this.

Buying, selling and moving house I would find MUCH more stressful than replacing a roof and doing gardening work.

New builds - I really like nice new builds, but I would be cautious about the builder's reputation. Friends have had really mixed experiences. From everything being great to expensive difficult to resolve issues that they have ended up paying for.

Requiring the residents to take on the management company as Directors is a very foolish and potentially disastrous course of action in my opinion.

In a lot of cases it has been extremely detrimental to the property owners and is open to abusive or financial mismanagement.

This is exactly why the previous government flagged it as legal risk to property owners and were looking at legislation to put control measures in place.

I would not touch a property with this setup with a barge pole and I suspect a lot of other people feel the same.

https://www.thesun.co.uk/money/24517079/freehold-estate-management-charges-leasehold-homes-fleecehold/

I'm not snobbish about new builds but I'm suspicious of them, having seen a number of them with serious damp or structural problems which in theory are covered by the guarantee but never seem to be fixed properly. A builder warned me always to buy one of the first ones to be put up because developers start skimping on materials later in the build.
If you love the new build house and can afford it, it's not a daft thing to move, but it is a bit of a gamble whether it turns out to be a new investment.
However, taking into account stamp duty of 12,500 on this house plus removal expenses and the difference between your sale and the purchase, it might make more sense to save to cover any roof repairs and a perhaps a new ensuite on your present home.

Annual management fees on new builds are currently not capped. Unless the law is changed you could see a vast increase in charges.

There was a thread here not long ago from a poster who was stuck in a house that they had outgrown because the management fees made it unsellable.

It's a real financial pitfall that you should be aware of.

Most estates are managed by a management company and when the developer leaves the site, the residents are all directors of it. They instruct the same, or another management company to manage it and to ensure that the local authority does what it should do.

Berkeley Homes are good quality for a volume builder, although less so since Tony Pidgely died. Otherwise, small volume local builders are often a better bet.

In my new build I have a large walled garden, a utility room that we’re going to add extra cupboards in, a linen cupboard, a large garage and massive amounts of insulation and energy efficiency. Plenty of room for a conservatory should we want one and we’d still have a good sized garden.

Check out the house builder, reviews etc. Some are much better than others. I had a lovely one from Berkeley homes, still wonderful after 20 years.

Also look at how much renovating your current place would cost. Otherwise you're spending £ on stamp duty, which could be invested in your own home.

I don’t have anything against new builds and in my town there certainly doesn’t seem to be any dip in price even when they’re resold within a few months.

However, the most important thing about any house is the location. Almost everything else can be improved. If you prefer the location of your current home, stay put. It sounds like it has a lot of potential with a bit of investment. You could use the money you’d pay for stamp duty and solicitors to change the roof and add an ensuite. Depending on the structure, you could extend into the loft to create additional space.

If you are completely against doing any work on the house, go for the new build. But there’s no guarantee that won’t need improvements.

I am currently looking at houses and I considered new build initially. But now, having visited a few on a Saturday as well as having a couple of friends living in one, I am very very reluctant. Noise is a massive issue. You can hear everything your neighbours are doing. I know, some older houses aren't brilliant but they are often a lot better.
Two bed new builds have nice large bedrooms. There beds have a horrid box room that is smaller than 2x2 but charge extra 40k for it. No thanks.
The plots are tiny and overlooking neighbour's windows. So not only you have no chance to lay decking and have a garden, but you are also exposed to BBQ smells and noise all summer.
No storage whatsoever. None! Not a single linen cupboard or boot room. Again, plot is not big enough to even build a conservatory, never mind an extension to at least whack a laundry room in. Although, there may be a laundry room in more expensive and larger properties. Sadly, they are outside of my price range.
So the only benefit is energy efficiency rating.
A lot of them also have open plan kitchens while older houses will have a separate diner and sitting room. So, essentially, two extra rooms for the same money.

If I were you I would not do it.
You say you want to move so that you don't have to do any repairs on your current house and you want your dd to have an ensuite.
In reality and new build does not necessarily mean no upkeep costs. Also, you will need to pay moving costs, stamp duty etc. can you use this money to create a ensuite in your current house ?

@LadyMargaretPoledancer has really summed up what I was coming on to say with regards new build properties.

The maintenance charge associated with new builds is currently mostly unregulated and some estates have absolute horror stories.

I live in a new build and I wouldn't move to another.

The build quality of my home is also poor. We have been here 5 years now and are still in the process of dealing with this (awaiting a court date as taking the builder to small claims court). Most of my neighbours gave up as the hassle of dealing with the builder was too stressful. Some neighbours have sunk tens of thousands of pounds into rectifying poor work from the builder.

I know that not all builders will be like this, and even not all estates the builders throw up will have issues, but the protections that you have with almost any other purchase just don't apply to houses.

We literally can demonstrate that our home is not built to NHBC standards in several important aspects, there are areas we can demonstrate our home does not meet legal minimums, and yet there is no recourse with the builder (hence small claims court)!

Word of warning, I recently pulled out of buying a new build.

The ground maintenance charges for the properties were setup to run through a new limited company setup by the developers. At some point the company was meant to become independent of the developers. To achieve this, the developers had decided the residents would take it over themselves, which wasn't communicated at all in the sales process.

When I received the purchase pack to authorise contract exchange, in it was a Companies House form they wanted me to sign to say I'd take on a directorship of the company! this had never been mentioned at all until that point.

So effectively, if I were one of the residents running it as a director, I'd be taking on a part time unpaid role ensuring maintenance payments were collected from the other residents and coordinating contractors. As costs rose I would have to go round to my neighbours asking for more money to cover expenditure to ensure the company remained solvent. If the company became insolvent, as a director I'd be liable, possibly involving bankruptcy of the company.

I pulled out of the purchase there and then. It would have been a financial and personal nightmare.

I'd heard horror stories from other new build buyers who'd been left in financial dire straits by badly managed, possibly fraudulent management companies that just kept putting up the costs, but I didn't think this was a possibility.

There and then I made a promise to myself never to buy a new build.

Since then, the estate has struggled to sell properties and one couple who bought a property have been trying to sell, having only bought the property 6 months earlier. They're effectively trapped. I feel so sorry for them everytime I see the property on Rightmove.

I know the government was supposed to be looking into the issue of ground maintenance and service charge fraud, not sure how far they've got with that.

Just be very, very careful OP. Read everything and double check all. Don't just rely on your solicitor. Mine thought the request of the builders was perfectly reasonable and normal until I point out the corporate liability issues. She was a bit sheepish after that.

The price of most new build stagnates for years.
As a pp noted, like cars once you move in they go down in value,

My db bought a new build from Persimmon and he had 600 snagging issues which took years to solve. Not small issues either, he had sewage from a lot of houses coming up through his garden and rear of the property as an example. Tiles falling off, doors not fitted correctly etc etc
You’d think as he works for a housing developer he’d have had more sence.
Of note A young couple died by carbon monoxide poisoning in a new flat in London the first night they stayed there.

You may think OP you are getting a brand new property with no work required, think again!

Like someone else said, you almost certainly have an annual/monthly service charge for the area; the council usually refuse to take on any maintenance of the grass and parks etc and you won't get a council reduction for that!

They are a perfectly fine investment, especially if you get in at the start of a build when developers are hungry for cash to finance next stages.

As long as you aren't using help to buy, you can haggle as well.