New-found (also written newfound) describes something you have only just got, found, or won — a new-found friend, new-found freedom, new-found confidence. It is about a change that has just happened, and the thing still feels fresh. Though actually, it is not only for objects you pick up off the floor. Very often it is a feeling or a place in life. It sounds a little more written than spoken, but people do use it in talk when they want a slightly careful, story-like tone. American writing often prefers newfound as one word; British writing is happier with the hyphen.