Why I REGRET Buying A New Build House | Pros and Cons

In today's video, I run through the pros and cons of buying a new build home in the UK, something I wish in hindsight I never purchased for just under £200,000 a few years back. New builds are often sold as the perfect home and dream, especially for first-time buyers, but having bought and sold properties for the past 10 years, buying my last new build is definitely one of my regrets when it comes to purchasing houses in the UK. Today's video will therefore show some of the cons I noticed on my own personal residence, but I won't be completely biased and will list some pros as well as cons for new builds too, as we are all unique with our wants and wishes. I hope this helps.
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Useful timestamps:
00:00 Introduction
00:55 Con 1 of a new build house
01:45 Con 2 of a new build house
02:33 Con 3 of a new build house
03:04 Con 4 of a new build house
04:08 Pro 1 of a new build house
04:28 Pro 2 of a new build house
04:48 Pro 3 of a new build house
05:05 Pro 4 of a new build house
05:25 Pro 5 of a new build house
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#property #newbuild #newhome

[@TheAnxiousInvestor]

p.s.
1 MONTH FREE SKILLSHARE for first 1000 to sign up: www.skillshare.com/r/user/findyourvoice & I hope these 4 points help you all :) Have a lovely day

[@yasminakhtar5]

Glad to see on back on the mend bro, missed your uploads needed that motivation, thank you for another valuable nugget

[@TheAnxiousInvestor]

Survived 10 days of Covid & had to shot this on day 10 so not looking my freshest! I hope you’re all keeping well and let me know your thoughts on today’s video too.

[@healthxcel]

Great video 😊❤️

[@rishidoshi7280]

I have no hesitation buying run down houses. Most people don't realise that run down houses doesn't necessarily mean it has structural issues. You simply need to make a distinction between cosmetic work vs structual work, and if it's simply cosmetic work that needs doing, you might be able to drive the value up with not much investment - which could be a big winner!

[@TheAnxiousInvestor]

Very true Rishi, plating around with structural work without prior experience is a dangerous game & general cosmetic refurbs (bathrooms / kitchens etc) are much easier ways to add value and profit off the back of it

[@rjjcms1]

That's right. So long as it's structurally sound,a little bit of disrepair can be remedied.

[@sargon4451]

I went to Eastern Poland a couple of weeks ago and stayed in a brand new rental unit in a new development. It was on the outskirts of a mid sized town (a 25 to 30 minute walk to the center of town). I know Poland has decent building standards and the Poles have a reputation for being good builders but what struck me is the apartment had very poor sound isolation from the walls (not the windows or balcony door which were completely sound proof as is standard in that part of the world). The development had somewhere between 100 to 120 units but only 15% -20% were occupied judging by the amount of cars. The problem is not only noise from passing cars due to the poor isolation but also that in winter (Eastern Poland is notorious for harsh winters and heavy snowfall) the heating costs will be very high I imagine... I'm happy I was booked there for only two nights and I remembered your motto: 'a little cheaper can turn out to be very expensive' 🤗

[@TheAnxiousInvestor]

its true - cheap is expensive! It almost sounds like in this example it was a cost saving decision as sound proofing / isolation to regulations is usually one of the most costly parts of a renovation / conversion. Of course im speculating about the regs there but its a shame, that shortcuts are ever taken on such expensive things. Hope the trip was great other than that my friend

[@aaronl9379]

Mate ur back 🎉, u survived bro, glad ur alright🎊!!. Great video mate keep it up always love the content 👊🏾!!. B'day was brilliant yesterday mate🎂!!. I think new builds are over priced like u said !!.

[@TheAnxiousInvestor]

Thanks bro :) I am 99% back to normal thankfully! Just a whooping cough lingering on a bit lol. Glad your bday went well - mine is in a few days too :)

[@benlamptey5208]

Thanks for this bro. Near the end of the video you said you would rent and then buy assets to fund your lifestyle. What does that mean? What are these assets? Forgive me if this is a silly question 😅

[@harmeetnarang878]

Hi when is the best time to get snagging survey please?

[@sheredeu]

Good 2 see you back man. Won’t new builds get better rents and have less maintenance issues?

[@TheAnxiousInvestor]

Thanks buddy, well on the whole obviously they’ll be less issues (you’d assume) but they aren’t exempt from problems. You will likely get better rents though, that’s a given but remember you are paying a premium so when it comes to looking at your ROI / yield they’ll be a significant loss as the higher rents come with higher acquisition costs.

[@hopefulfather3469]

I am a sucker for the show rooms!! Although buying one is out of my price range for now unless I head over to more less appealing areas 🤣

[@TheAnxiousInvestor]

Haha showrooms got us last time around!! Never quite managed to make it look as good either lol

[@mogheesmir]

Great video 👍

[@TheAnxiousInvestor]

Thank you for watching :)

[@thelifeofjenelle6286]

Hey great video. Quick question in most cases can you negotiate the price of a new build?

[@TheAnxiousInvestor]

Depends on the builders & where they are in terms of their phases of developments We’ve managed to get some perks here and there but it really does depend. My moms managed to get good perks twice - maybe she’s a better negotiator than me but most developers will know their profit margins and decide themselves what their happy to take

[@joshuawalters5391]

Great video

[@TheAnxiousInvestor]

Thank you mate

[@taiwong1186]

Did your warranty cover the problems you faced A?

[@TheAnxiousInvestor]

So it was funny because the electrical faults were not covered (as they happened just outside the time frame, conveniently) and the cracks were not deemed large enough and again their was a timeframe issue. Builders are smart and have a good idea on when things will start to potentially play up. I also realised all the thousands of £s of upgrades we had done, I could have done myself for 1/5th of the price!

[@shamkhan7929]

Hey I need your help! One the seller is willing to go down 5k I know that for a fact (friend of a friend knows the seller) estate agents not having it :/ though.. second issue.. asbestos maybe present on the roof of the garage the living room is on top of it.. the surveyor said 'maybe' not sure what to do with a maybe... First time buyer.. and I'm already regretting it lol

[@onkartoor5298]

Don't buy it

[@TheAnxiousInvestor]

i would urge on the side of caution with this too Sham, a lot of red flags probably not worth it for your first purchase. The agent / surveyor dont sound too professional either - odd and unlucky for you

[@shamkhan7929]

@@TheAnxiousInvestor I backed out yesterday. Thanks for your response now I'm certain I did the right thing. I lost money making report but better then buying a disastrous property! In the survey there were other issues old electric work (some of it faulty is what the report said) half of the windows don't open and damp in the main walls dam! Lucky escape! I wish the bloody estate agents mentioned half of this to me. There were a few more issues too e.g. no certificates with boiler etc some if any of that was broke or went wrong even more money to fix.. looking at good 30k to fix up already before moving in. First time buyer its not good for me at all!

[@joosters7883]

Definitely not a fan of new builds myself 🙌🏽

[@TheAnxiousInvestor]

haha amen to that!

[@Seijuro047]

Late with the comment but better than never! Yeah new build wouldn't be the way to go for me yet. Definitely will stick to bread and butter stuff for now lol

[@TheAnxiousInvestor]

haha always appreciate you Dave thank you and you can't go wrong with the bread and butter stuff! Im hoping we can build better qualities new homes this year when we start, but with material cost rising its going to be a difficult push

[@TheWellnessAbbey]

I thinks the cons of new builds outweigh the pros

[@TheAnxiousInvestor]

absolutely agree with this

[@Moose185]

I already know that buying a new house means cheaper materials because they want to squeeze out as much money as possible.

[@humourous1513]

Not a fan of new homes either

[@TheAnxiousInvestor]

join the club brother