Affordability Friday

Affordability Friday

19 May 2017

It’s a common misconception: new homes are more expensive than old ones, but is that really the case? As part of New Homes Week 2017 here we take a look at the cost of affording and managing a new home versus an older property – prepare to be surprised!


Purchase Price

So you’ve compared the new development round the corner to the older house for sale down the road and it’s more expensive. It’s a no brainer, right?


Wrong. Many house buyers fall into the trap of buying an older property because it’s cheaper, only to spend far more in the long run on expensive renovation works. With a St. Modwen Homes property everything is brand new so there’s not a thing to be done, except to put your stamp on the property as and when you want to.


What’s more, we offer Help to Buy across all of our developments, meaning that you can purchase a brand new home with a deposit of just 5% and a 75% mortgage, (55% in London) as the government will provide an equity loan of up to 20% (40% in London) to cover the remaining cost (which is then interest free for the first five years).


Helping You Move

Put off by the stress of selling an existing property?


With our Assisted Move scheme, we’ll take away any hassle of selling your home, making sure your move goes as smoothly as possible. We’ll pay towards your estate agent fees, saving you hundreds of pounds in fees and agree a fair selling price for your existing home with local estate agents. Our estate agent will market your property and manage viewings along the way right up to completing the sale. It’s that simple!


No Hidden Renovation Costs

According to the House Builder’s Federation, upgrading an old home to new build specifications could be as high as £50,000 – plus a whole lot of time and effort, too! Add that to the stress of finding additional hidden faults such as wiring or damp, and it can start to be a bit of a headache.


With new fitted kitchens (often with integrated appliances), bathrooms, energy-efficient windows and heating (we could go on…) already included in all our homes, our purchasers could move in with just a suitcase.


What’s more, when you buy with us your new home is protected not only by the NHBC Buildmark warranty, which covers any major defects to the structure of your home for up to ten years after completion, but by the St. Modwen Homes’ two year additional warranty as well so you can relax in the knowledge that we’ve got it covered.


Running Costs

We build all of our homes to the latest environmental standards, including double-glazed windows, greater levels of insulation throughout and energy efficient heating, which ultimately makes it cheaper to run; saving you a fortune over the years.


We understand that buying a new home is one of the biggest decisions you’ll ever make, with lots of factors to consider.


With a range of incentives designed to support you from the moment you put your home on the market, right up to your move in date and beyond, buying a St. Modwen Homes’ property could be easier – and more affordable – than you might think.


To find out more about St. Modwen Homes visit, follow us on Twitter and Instagram (@StModwenHomes) or like one of our individual development pages on Facebook.

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St. Modwen Homes Limited. Head office & Registered Office: Park Point, 17 High Street, Longbridge, Birmingham, B31 2UQ. Company Registration: England & Wales 9095920