The Cost of Buying & Owning New Builds vs Older Homes | Tips for buying new build & pre-owned homes

In this video I compare the cost of buying and owning a new build and older home. I look at ongoing costs, such as utilities, maintenance and repairs, ground rent, and service charge. At the end of the video, I give three tips for buying a new build, and three tips for buying an older home.

CONTENT
Intro 00:00
Cost of buying new builds vs older homes 01:15
Cost of owning new builds vs older homes 04:01
- Utility (energy) costs 04:24
- Maintenance and repair costs 06:18
- Ground rent 08:11
- Service charge 10:21
Final thoughts on new builds vs older homes 11:43
Three tips for buying new builds 13:34
Three tips for buying older homes 15:02
Outro 16:44

TOOLS/LINKS USED
Service charge - https://www.directline.com/home-cover/magazine/property-service-charges
Utility costs - https://www.independent.co.uk/money/spend-save/newbuild-property-home-mortgages-investment-housing-a8636221.html
Cost of buying new build - https://www.homesandproperty.co.uk/property-news/new-build-vs-secondhand-homes-in-london-house-price-report-reveals-sixfigure-gap-between-new-and-a110101.html%3Famp
Smaller new builds - https://www.zoopla.co.uk/discover/property-news/new-build-homes-now-20-smaller-than-in-the-1970s/
Five house builders abolish ground rent - https://www.independent.co.uk/news/business/leasehold-ground-rents-abolished-taylor-wimpey-barratt-b1768551.html
Cost of Help to Buy new builds - https://www.which.co.uk/news/2020/06/exclusive-one-in-seven-help-to-buy-homes-lose-value-despite-local-house-prices-soaring/

ABOUT ME
I'm Lemuel. I'm not a financial advisor. I'm not an expert. I'm just a regular guy that enjoys talking about how we can do better with money.
If you want to learn more about how you can do better with money, then subscribe to the channel and hit the notification bell so you get an alert whenever I upload a video.

TOPICS
new build vs old house, new build vs old flat, new build vs old home, buying a new build, buying a new build house, buying a new build flat, buying a new build home, buying a pre-owned house, buying a pre-owned flat, buying a pre-owned home, cost of owning a new build, cost of owning an older house, buying a new build vs old house, buying a new build vs old flat, buying a new build flat uk, buying a new build house uk, new build home

DISCLAIMER
This video is not meant to address the specific circumstances of any particular individual. It is created for educational purposes only. You should not rely upon it as legal, financial or professional advice, or a substitute for it. I do not accept any liability whatsoever for errors, omissions or misstatements contained therein. You should consult a suitably qualified professional if you require specific advice or information.

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