Top tips for buying a new home
Thinking of buying a new build? A brand new home is an exciting prospect as you will likely be the first person to live in the property, you can often tailor the fixtures and fittings according to your taste and repairs and maintenance will be minimal for the first few years. There are also many schemes such as Help to Buy for first time buyers and Part Exchange for those who already own a property.
If you are considering purchasing your first new home, we have put together a few useful hints and tips to help you through the process…
Choose your location and ask questions
Once you have selected a new development in your preferred area, do some research on the developer and other sites that they have worked on and enquire about open days for the development as this is often when developers promote incentives that they are offering such as paid stamp duty or moving costs to attract buyers. View the show house and if you like what you see, make an appointment with a sales consultant to look around the site and ask questions about the developments facilities such as communal gardens and play areas and local schools, transport and amenities if you are new to the area.
The show house is a good indicator of the quality of the developer’s workmanship so you should be impressed. When looking around, the sales consultant will be able to tell you what is included as standard such as fitted wardrobes, white goods, light fixtures, etc. There is always room for negotiation though so do bear in mind any little extras that you might like included – if you don’t ask, you won’t get!
Ask for a tour of the site from the site manager to get a better feel for the development. This will give you a chance to understand the type of properties and their positions, the size of the gardens and whether they are north or south facing, light and noise levels and what is included in the price such as white goods within the house or turf and a parking space outside. You can also ask about how much interest the development has received and how many of the units have been sold to establish how populated the development will be initially. If you are buying off plan, check that the builder is signed up to a warranty scheme to protect your deposit should anything go wrong. It will also ensure that the home is built to agreed standards and if there is an unreasonable delay to the completion date that is stated in the contract of sale, you will be entitled to compensation.
Consider your investment
When considering your property purchase, it is worth considering that it is going to fulfil your needs for the next few years in order to maximise your long term investment. Is it big enough for your partner to move in or for a new baby? It is also worth thinking about how you can add value to a property when considering a purchase – is there room for a conservatory or a loft conversion? You may not have the funds for this now but buying property is one of the biggest financial investments that you will make and now seen by many as the best way to provide long term financial security so it is worth thinking ahead.
Reserve your plot and make your mark
After deciding on your plot, you will pay a deposit and the plot will be taken off the market. You will be advised of approximate completion dates and will be invited to update meetings at the site to review progress. If you are buying off plan, the earlier you reserve your plot the better as you can have more input on the fixtures and fittings which may include kitchen finish, colour schemes and floor coverings – the sales consultant at the development will be able to advise you further on this.
The builders warranty does not cover workmanship and quality finishes so it is worth conducting a snagging survey between exchange and completion to check for any issues such as cracks in settling walls, loose guttering and unfinished paintwork. You should be 100% happy with the state of your new home before the sale is completed.
Once all of the formalities have been carried out, your developer will carry out the handover of your new home to take you through where everything is and how it all works. All that is left to do at this point is move in and enjoy your brand new home!
If you are looking to buy a new build, you can contact the New Homes team by clicking HERE or you can call them on 01903 228606.
Content accurate at time of publishing.