Get an older house but get a specialist survey done to highlight any issues.
Its a bit like getting a Zed;
- you can get a well looked after older one with high miles that is super tight (but expect routine maintenance)
- you can get a trashed newer one for the same price that before too long might need some of the bigger jobs doing.
- you can get a trashed older one that will rape you wallet until the end of time
- you can get a well looked after newer one but you'll be comprimising on spec or paying a premium.
I live in a newish build FTB'er house. They're like egg boxes mate - luckily ours is only a 2 bed so the rooms are a decent size but there is still no storage space for anything. You start looking at 3 bed new builds and they're basically 2 bed size with smaller rooms.
Do yourself a favour and get an older one thats been well looked after. Rooms will be bigger, they generally appear more 'well built' (so my grandad used to say anyways).
An indepth survey is an absolute must though - otherwise you could be stuck with any number of hidden nasties.
Don't forget NHBC/Zurich municipal won't cover you for every little thing that goes wrong - I'm pretty sure its only major stuff like building defects. So unless you have a 'disaster' in a new build they're not that much use.
EDIT - http://www.nhbc.co.uk/NHBCPublications/ ... 421,en.pdf
NHBC only covers building defects.