There are many different options if you are trying to decide how to get your dream home. For one, you could look to buy a property that is ready to move into. Or, you might look for an existing structure that needs some work to suit your needs. Finally, you may decide to build something new from scratch. As one of the top experts with residential architecture in London, we want to do a little comparison between buying and building here.
Not an easy decision
It is never easy to decide what to do, especially if you are a first time buyer. There are lots of things to consider, including costs, location, and the specifics you need for your home. It is also a good idea to look to the future. Will building something new give you a good chance of making a nice profit if you sell later? Will an existing property gain value in the next few years?
The basic rule of thumb here is it is generally better to build something new if you want a simple, compact, easy to maintain home. It can be a great option for costs and having the chance to get exactly what you want. With residential architecture in London, it can be a good choice.
However, what you need to think about is building will always require a bigger investment up-front. There are lots of costs here, from buying a plot to groundworks, paying an architect, materials, labour, and even the cost of housing while you wait for the construction to finish.
Buying a home flips this whole thing. It tends to be cheaper up-front with fewer initial costs. But, the price starts to build up when you factor in changes you need to make such as renovations, decorating, and upgrades.
Key costs to think about
Looking closer at different costs, there are some important ones to note with buying vs building. Firstly is maintenance. It tends to be more expensive with existing properties, especially older ones where previous owners have ignored wear and tear. If you build new there should not be any major concerns here for the first few years.
Energy efficiency is something everyone needs to care about. It is vital with housing because it can have a big impact on your monthly bills. Older existing homes are generally less efficient. If you build new you can focus on efficiency in every aspect of the design. It could mean lower bills for the long term.
The land and space around a home is crucial to the overall aesthetics. A big advantage with existing homes is a lot of the landscaping here can already be in place. There may even be mature trees and plants to enjoy. If you build new the plot may not have all of this. It may actually be in a pretty poor state because of all the construction. However, you will have a blank slate to work with. It will also be easier to introduce new complex elements.
Choose us to help you with residential architecture in London
Coffey Architects has a huge amount of experience here. We have seen clients buy properties and make substantial changes to get their dream home. We have also worked with people who build exactly what they want from the ground up. In either case we can be on hand to provide lots of useful services and design support.
So, if you want your dream home get help from a top expert with residential architecture in London. You can contact us to discuss anything and get recommendations.