New Builds Gain Popularity Among First-Home Buyers Facing Market Pressures

New constructions present several advantages for first-time buyers. They often come with government incentives, such as grants and stamp duty concessions, which can significantly reduce upfront costs. Additionally, new builds typically require lower maintenance and are more energy-efficient, leading to long-term savings.

However, this shift towards new builds is not without challenges. The increased demand has led to longer construction timelines and, in some cases, higher costs due to supply chain constraints. Prospective buyers should conduct thorough research, considering factors like location, builder reputation, and potential delays.

For those navigating the complexities of the current market, exploring new builds can be a strategic move. Engaging with experienced mortgage brokers and staying informed about available government schemes can provide valuable guidance in making informed decisions.