New built house vs older Victorian house: pros and cons?

[Sandrine1982]

Hi there.

We're viewing two houses this weekend, both in a nice area, one is a new build (2015) the other is a nicely done up standard Victorian property, only slightly bigger.

The price difference is 100K.

So it made me wonder, why are new build properties always cheaper? I know you can't do much to them in terms of extension / conversion, but they also have pros (they have a better EPC rating, often more practical lay out ... etc etc).

So am I missing something? What else should I be concerned about with new builds?

Thanks mumsnet!

New builds you willl usually pay a premium because their new so Victorian house is going to be the better investment and also allow you to add value whereas that is difficult with a new build.

New builds are usually smaller rooms/less space and gardens overlooked - poorer materials to build with these days as builder prefer profit sadly.

On the flip side a new build is new so is going to have that fresh feel to it and also come with a. Warranty.

I think in summary if you want less hassle and no work involved new build is good but if you're looking for the better investment likely a Victorian house is better for you.

Older properties are usually more attractive with more character and kerb appeal (and that drives up the price). And many new builds on identikit estates while older properties on nice roads etc (although often issues with parking!).

But those things may pale into comparison with the comforts of a new build depending on what you are looking for (although some new builds are not actually that well built and have smaller proportions, will depend on the property).

New homes generally have smaller rooms and lower ceilings; you can improve a Victorian house's eco features but you can't really improve room sizes in a new build.

I think it depends on the area, it certainly is not true that new builds are cheaper here than older homes, quite the opposite. But we have lots of executive news builds and the older homes aren't of the best standard.

Only you can know (unless you want to share links) as to which house is nicer, the £100,000 difference won't be simply because one is old and one is new.

New builds usually have small windows and low ceilings. They aren't as desirable when it comes to selling, whereas there will always be someone willing to buy a Victorian house.

Unless I built it myself I wouldn't buy a new build. They are made cheaply and rarely look very nice.

I agree with PP though - £100k seems like a big price difference if the houses and gardens are the same size and in the same area.

Depends on where it is!
My house is new build (previously disliked new builds with a passion) built 2013.
Our estate is spaced out, big garden (we've just got planning permission to extend our downstairs) plenty of parking spaces etc, ceilings are quite (obviously not as high as Victorian houses) Other new build estates they're quite cramped and on top of one another.
New builds are cheaper to heat and maintain. They aren't built as well as older houses though.
Victorian properties can be expensive to maintain, expensive to heat, no garden and nowhere to park.
I love Victorian properties! I love the period features, the layouts (when the kitchens and bathrooms have been extended)
Around our area I can get a Victorian house cheaper than some of the newbuilds surrounding them.

Is it partly a location thing, OP? Victorian properties are in more sustainable locations close to parks/shops/city centres and new builds are further out with fewer local amenities?

Totally down to character for me. When we were looking for our "forever home" (awfully twee phrase but effective) 3 years ago I had the exclude new builds box ticked on Rightmove

I live in a victorian property

pros, it is built to last the windows doors tiles woodwork etc will last another 100 years if maintained, the rooms are spacious no need for ingenious storage solutions, big antique furniture for big rooms is cheap at auctions etc, it looks beautiful, the style is classic the period features have not been removed; has mature garden with well established trees and clear boundaries we have loads of parking and a larger garden than a similar sized modern new build would ever have ( an acre is not a pro for some but it is for us) no ground rent genuine freehold no restrictive covenants, we found the high turning handles on doors removed need for some child proofing as was at least 4 before could open a shut interior door

cons it costs more to heat ( though once warm it retains heat longer and doesn't overheat so easily in summer) all repairs and maintenance cost more as in imperial sizes and materials. B&Q is not the answer but if you repair a sash and cash window it will last another 100 years not the 30 for PVC. it will not have enough sockets for modern life can be fixed with extension leads, sympatheitc extensions would cost more ( if you have a smaller property)
layouts awkward to change, childproofing can be harder as fitting stairgates on wider than average stairs with iron balustrades doesn't work)
listed buildings are a very mixed blessing

New builds are soul-less places
.

Sweeping generalisation here as it can obviously vary depending on the house, developer, and how well an old house has been maintained:

New build cons: smaller rooms, smaller gardens, possibly overlooked, high density houses, thinner walls, sometimes drainage issues, less storage, loft space not always useable.
Pros: Energy efficient, warm, low maintenance, more bathroom facilities.

Victorian cons: Harder to heat, maintenance costs, potential for needing big fixes such as roof, damp etc.
Pros: bigger rooms, higher ceilings, period features, well built, solid walls and floors, storage, loft space.

New builds generally have smaller windows, lower ceilings, no character. (There are a few exceptions of course).

Some people will care and will pay extra for Victorian because of these things. Some people won’t.

Once you’ve seen both houses you’ll know which sort you are…

You have to compare the actual houses. It’s obviously not true that all new builds have smaller rooms than all Victorian houses, or that new builds all have a better layout.

As a generalisation
New builds have lower ceilings, more equitable (smaller?) 2nd/3rd/4th bedroom, cheaper and easier heating and maintenance, unestablished (often smaller) gardens. More likely to have garages/parking. Often less convenient for public transport.

Victorian houses often closer to city centres (not always a good thing!), and often closer to facilities such as shops, cafes, library, bus stop etc which have been around for years. There is a huge difference between a 2 bed Victorian terrace with a yard and a downstairs bathroom and a detached 6 bed in grounds. The same can be said of new builds of course.

I have a new(ish) build and it’s ok. I hate the windows (i obviously could replace but there’s nothing actually wrong with them). Overall the house is a blank canvas so you can lay on “character” but it doesn’t really have any of its own iyswim. It’s easy to live in, I have a drive, and it’s a quiet street, it’s overlooked, I very rarely have to fix anything and my heating bills are fine, I quite enjoyed starting a garden from scratch, I don’t love it but my life is easy in it.

New builds generally have smaller windows, lower ceilings, no character. (There are a few exceptions of course).

It's not about exceptions, it's about budget. Plenty of Victorian and new build houses are opposite to what you're describing.

I live on an estate that is all 4 bed detached houses that are all very large, larger than the 2 bed Victorian terraces we have in this town as the small workers' ones are the only ones here. I wish I had bloody smaller windows they cost me a fortune to dress and almost every room is dual aspect. Equally I've lived in a shitty little Victorian terrace that had no windows whatsoever in the hallways/stairs and piddly little windows in the bedrooms. The two houses are not comparable in anyway and do not epitomise the rest of their subset of housing.

I say this time and time again, you can not compare a Victorian house vs a new build house, you're talking about hundreds of thousands of houses built over decades to different specifications. There are gorgeous Victorian houses, and tiny run down messes, and the same goes for new build. It depends on the area you live and the budget you have, not just the age of the house.

But whatever enables people to bring out their inner snob hey!

:-) haha good points name6785 :)

Oh, and can anyone explain the new build paying a premium please? I don't think I understand it ...

I bought a beautiful Victorian terraced house. Pros were original features, servant's bells etc. Lovely original fireplaces. Near station and bus routes. Cons were lack of parking, almost impossible to keep warm in winter, rotting, single pane windows. It needed a new roof etc., so a lot of maintenance. Long, thin overlooked garden. Neighbour noise through the walls.

I now have a new built house. Pros are good parking, hardly using central heating even when it's snow. Easy to maintain, much better garden, not overlooked, much lighter as lots of double glazed windows. No neighbour noise. Con is further from amenities although bus stop and large supermarket seven minutes walk away. It's well designed and not a bland box.

I much prefer my new build.

Cut'n'paste from witch

You might have heard of the 'new-build premium', a term used to describe the fact that new-build homes tend to be pricier than older, but otherwise similar, properties. The reason for this difference is that everything is new and unused, energy-efficient and built to - hopefully - a high-quality spec.

Thanks, Kirsten. I was aware of this kind of premium. But in my situation it doesn't really make sense, because the new build is not pricier... it's actually cheaper :p

So I didn't know why everyone is always talking about a premium ....

Also the new built we're viewing has good size rooms, off street parking ... garden seems ok.... it's the same distance to transport as the other house...(actually slightly closer) and it's also closer to better supermarkets and a lovely park

name6785 of course a 4 bed new build is bigger than a two bed victorian terrace I never said otherwise

What I’m saying is that if you take two houses of the same type and roughly the same square footage, the Victorian one will have higher ceilings and bigger windows. So if you are comparing a small terraced 2 bed new build to a small 2 bed terraced Victorian, the Victorian will have higher ceilings and bigger windows. Same if you compare a large detached 5 bed of each type.

It’s not snobbery at all, it’s to do with priorities in different eras, the Victorians didn’t build their houses to be remotely eco friendly or easy to clean for example, and they focused on the “show” rooms leaving kitchens and bathrooms to be poky. There are major downsides to Victorian houses, even before you get into the maintenance issue. They did however make them feel spacious and light (in the main rooms anyway) and they loved twiddly bits.

The OP asked why there was a premium, this is why.

Oh and the new build has huge windows!

New builds don't necessarily have smaller rooms and smaller windows as a lot depends on the developer and location.

If you are second owner of a new build then most of the issues will have been fixed by the first owner and you will have very little maintenance to do.

If you own a house that is from the 1930s and older then expect to have to do continual maintenance on it.

The new build premium exists when it is brand new. 5 years later it isn't totally new and frequently the prices haven't risen or have dropped a little.

If you want modern and new, one that was new a few years ago is probably best value and will still have the positives of new build.

Houses on bigger estates and which are further from amenities such as town, shops and established schools often lose their new build premium quite quickly.

Those with bigger gardens which are not overlooked, on small estates or non estate and those in prime locations for amenities will Ho,d their value more.

Location, location, location. It is as important as the house itself.

Most people value the features that tend to come with Victorian houses, which are not all about the house itself. They value being in established roads and closer to shops and schools and raikway stations. They also like non-overlooked gardens and character features.

Other people don't value these things so much and just the physical space inside a house/layout/no of bathrooms. They might value being able to buy with shared ownership or help to buy and these push them to new builds. They might need space for family but not be able to afford it in town centre or more prime locations.

People are different and value different things. Those with more money who can pick and choose would often choose a non-new build or a non-estate house. Even the big 5 bed £1m new builds on big estates have smallish gardens and the state feel. Lots of people want more for a premium price tag.

Personally I would sacrifice bathrooms and parking for a better garden and being able to walk to all the local amenities...but I'm happy to walk and like outside space. Lots of people want to drive everywhere, so the fact the estate is a mile from amenities or further from main amenities isn't an issue as they highly value lots of bathrooms. They also value knowing they won't have to do DIY for a while or their costs are u der control. An awful lot of peopl,e also buy with help to buy schemes ....they couldn't afford a similar non new build house on standard mortgage terms, so actually they have no choice. This increase in demand for essentially credit pushes up the price of the new builds when they are totally new. Quite often the price then drops as those houses become less attractive once help to buy schemes are no longer available on them as second hand homes.

I think the price of a 5 year old new build is a more accurate price than its newbuild price. Those are the ones to compare.

I wouldn't want huge windows.