Key reasons to buy new

Key reasons to buy new26 Oct 2016

Buying new has many advantages. No one has yet lived in your brand new home and it has that new home smell and feel.

That doesn't appeal to the villa crowd. But many people dream of a home in a new suburb.

There are many other advantages -- such as being able to customise the home before it's built. Buyers love it that their build guarantee covers most things and there's little maintenance to do for the first 10 years.

Real estate agent Jeremy O'Rourke, managing director of Lodge Real Estate, can rattle off a long list of reasons some people dream of buying new. They include:

• Current Building Code requirements specify a higher standard of insulation and glazing than you can expect in an older home, which makes your new home warmer in winter and cooler in summer, meaning cheaper to run.

• New homes are designed for modern lifestyles with walk-in wardrobes, double or triple car garaging, en suites and heat pumps.

• Internal access garaging.

• Indoor-outdoor flow.

Another important factor is it's easier to get a mortgage. New Reserve Bank of New Zealand loan to value (LVR) ratio restrictions from October 1 don't relate to new homes. Likewise the Kiwi Saver Home Start grant is doubled for first time buyers.

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