/ Will it cost more to live in a new home on the estate?
Will it cost more to live in a new home on the estate?
New homes will be more environmentally efficient than existing homes and therefore more cost effective to run with more efficient heating and hot water systems, improved insulation, all of which will contribute to lower costs of running the home. Being newly built homes, there will be much lower levels of capital expenditure required on the properties for many years.
There is, however, a possibility that the Council Tax will be higher than for existing homes on the estates. The council cannot guarantee that monthly outgoings will be lower, but we fully expect them to be. For tenants, rents will still be set in exactly the same way as council rents. As you will be living in a newer property with a higher value, your rent could increase as council level rents are in part calculated using the value of the property itself.
Any increase in rents will be phased in over 5 years and you would still be able to apply for Housing Benefit to cover the rent. There is more information in the council’s Key Guarantees.