Table of Contents
A woman revealed she didn’t like her first new-build property so much that she sold it just five years later.
Rima, also known as @healthxcel on TikTok, explained below the top five reasons why she didn’t like her first house.
The pharmacist warned her followers about the risks of buying a new vehicle.
From low ceilings to “strict” warranty clauses, here are five reasons why Rima was disappointed with her first property.
Rima (pictured), also known as @healthxcel, revealed the top five reasons she regretted buying her new-build home and sold it just five years later.
1. Warranty clauses
Newly built homes typically come with 10-year warranty insurance policies, meaning potential buyers are covered for problems that may occur in the home.
These insurance policies typically only cover home defects during the first two years, depending on zoopla.
This includes problems such as faulty plumbing, electrical wiring, or leaky windows that have not been sealed properly.
After the initial two-year period, the warranty typically only covers structural defects in the home, such as problems with the roof or foundation of the home.
The 10-year guarantee that comes with these types of properties is considered by many to be an advantage, however, Rima found the “strict criteria” of her policy to be a hindrance.
Explaining why it was a disadvantage, the content creator said: “The guarantee they gave [us] For ten years there were often clauses.
“This meant that when something really needed to be classified, we had to apply strict criteria in order to solve the problem.”
2. Small rooms and low ceilings
Another complaint the owner had with her first property was the size of the rooms.
Older Victorian or Edwardian buildings sometimes have ceilings that can exceed three meters in height.
However, in modern homes this is not always the case.
Newer properties have much lower ceilings to help reduce heating costs, typically measuring around 2.4 metres, to help reduce heating costs, according to Extension Architecture.
Although her goal is to help improve profitability, Rima found that the low ceilings and small rooms of her first home made her feel “cramped.”
She added: ‘[The] The rooms are really very small. New builds also have lower ceilings, which means the room tends to look smaller and the furniture quite narrow.’
3. You spend more money
Another reason the content creator regrets buying her first home is because of the extra money she had to spend upgrading parts of the property.
She revealed: ‘You actually end up spending more money on the house.
“This is because you end up getting upgrades, for example, to your kitchen countertops or bathroom tiles, because they only give you the bare minimum.”
4. ‘The ending is not great’
The pharmacist also felt like she didn’t get the first finished house she expected, which made her regret her purchase even more.
According to the former owner of the new construction, her house was not “excellently” finished, meaning that a lot of problems arose on the property.
During the first year of moving into her new house, Rima discovered that the bathroom was starting to get damp “very quickly.”
She attributed this problem to the “cheap materials” used to complete the house.
Unhappy with the low ceilings and small rooms, Rima felt “cramped” in her first home.
5. The house initially depreciates in value
Another reason Rima regretted purchasing new construction was that it took time to increase in value and in fact depreciated after the purchase.
She said: “New builds usually take a long time to rise in value if they ever need to be sold because the value of the house is initially overvalued.”
According to 2019 Property Registry Data The average price of a new construction home is 29% higher than that of an existing home.
Additionally, a key selling point of a new build property is the fact that it is new, meaning that when you purchase the home, the premium you paid for the newness of the home is redundant. Property sales company reports.
Additionally, if you also hope to sell the home for a profit, another risk that could arise is that of supply versus demand.
When you initially purchased your new build home, it may have been one of a few, however, as others that look identical continue to emerge, it could be less attractive to a potential buyer.