Considering Construction Types: What First-Time Buyers Need to Know
As a first-time buyer, understanding property construction types is crucial. It can impact everything from price to future mortgage ability, even for similar homes. Let's explore what you need to know to make an informed decision.
Embarking on your first home purchase is an exciting journey, and while you're likely focused on location, number of bedrooms, and garden size, there's another vital factor to consider: the property's construction type. This often-overlooked detail can significantly influence your buying experience, affecting everything from the initial valuation to securing a mortgage and even future resale.
Why Construction Type Matters for First-Time Buyers
Different construction methods come with their own set of characteristics, advantages, and potential challenges. For first-time buyers, being aware of these can help you make a more informed decision and avoid unexpected hurdles down the line.
Traditional Brick and Block Construction
This is perhaps the most common and widely understood construction type in the UK. Properties built with traditional brick and block are generally well-regarded by lenders and insurers due to their proven durability and longevity. They typically offer good insulation properties and are straightforward to maintain and modify. Consequently, these homes often command stable prices and are usually easy to mortgage.
Timber Frame Properties
Timber frame construction is increasingly popular, offering efficient build times and excellent thermal performance. While modern timber frame homes are robust and durable, some older timber frame properties, particularly those built before the 1970s, might be viewed with more caution by certain lenders. This isn't to say they are problematic, but it's an area where a surveyor's report becomes even more critical. Mortgageability is generally good for modern timber frame, but it's always wise to check with your mortgage advisor.
Non-Standard Construction Types
This category includes a variety of methods that deviate from traditional brick and block.
Examples include:
Concrete Panel (e.g., pre-fabricated concrete): Often found in post-war housing, these properties can sometimes present challenges with mortgage lenders due to concerns about long-term durability, damp, or repair costs. While many have been successfully repaired or refurbished, it's essential to have a thorough survey.
Steel Frame: Modern steel frame homes are robust, but older versions might have issues with corrosion if not properly maintained. Lenders will typically require a detailed survey. Wattle and Daub / Cob (Historic Properties): While charming and often listed, these ancient construction methods require specialist knowledge for maintenance and can be more difficult to mortgage due to their unique structural characteristics and insurance requirements.
Impact on Price and Mortgageability
Generally, properties of non-standard construction can sometimes be priced lower than comparable traditionally built homes. This isn't always a reflection of their quality, but rather the perceived risk or complexity by lenders and insurers. A property that is harder to mortgage will naturally appeal to a smaller pool of buyers, which can affect its market value.
When it comes to mortgages, lenders assess risk. Non-standard construction types might lead to:
1. Fewer Lender Options: Some lenders may have stricter criteria or even decline to lend on certain construction types.
2. Higher Interest Rates: If a lender perceives higher risk, they might offer less favourable terms.
3. Larger Deposit Requirements: You might need a bigger deposit to secure a mortgage on a non-standard property.
4. Mandatory Specialist Surveys: Lenders will almost certainly require a comprehensive survey from a qualified professional to assess the property's condition and any potential issues.
Our Advice: Don't Let it Deter You from Your Dream Home
While it's important to be aware of these factors, understanding construction types shouldn't deter you from buying a home you love. Many non-standard properties are perfectly sound and offer unique character or value. The key is to be informed and proactive.
We're a local agency who tells the truth, even when it's tough to hear. Our advice is always to:
1. Get a Good Surveyor: A detailed survey is invaluable, especially for non-standard construction. It will highlight any potential issues and give you peace of mind.
2. Speak to a Mortgage Advisor Early: Discuss the construction type with your mortgage advisor as soon as possible. They can guide you to lenders who are more amenable to specific property types.
3. Ask Questions: Don't hesitate to ask your estate agent about the property's construction. We're here to guide, not pressure, and provide transparent information.
Our client-first, human approach means we treat you as an individual with real wants and needs. We have decades of collective experience and a deep understanding of the South Ockendon market. We're here to help you navigate these complexities, ensuring you feel understood, informed, and confident throughout your home-buying journey.
Ready to find your first home in South Ockendon? Register with our Heads Up Property Alerts and be the first to know when homes that match your needs come to market before they appear on Rightmove.
