Buying a new build can have its pros and cons, but one of the biggest issues people have is encountering problems after they’ve bought their property and moved in.
This is where our expert guide can help, as we can see you navigate the world of new build properties and property buying, to first help ensure you get a smooth sale and to explain what to do if you encounter problems later down the line.
Why buying a new build can be beneficial
There are many benefits to buying a new build, the most obvious being the fact that you would be the first people to live in the property, meaning you can truly put your stamp on it.
This can even mean avoiding redecorating, and you can even request certain specs, fixtures, and fittings to meet your exact requirements and desires with certain developers.
Another huge benefit is the fact that because of today’s modern building standards, i.e. the latest in double glazing, insulation, etc, you can often benefit from cheaper running costs and lower bills in the long run.
Key considerations before buying a new build
There are, however, some key considerations to be made if you’re thinking of taking the step towards buying a new build.
- Is the location right for you? Make sure to do your research on the area and the local amenities.
- Does the size of the property meet your needs not just for the present, but also for the future?
- Can you afford it? And how will you finance it?
- Are you prepared to wait for the property to be built?
- Do you understand the warranty that’s in place?
Here are some questions you should ask when buying a new build.
The buying process
So when it comes to the process of buying a new build, here’s what to do:
1) Get your finances in order
Seek professional advice from a mortgage advisor to get a clear picture of just how much you can borrow and afford, this way you’ll avoid wasting your time with properties out of your budget.
2) Go looking and viewing
As well as the development itself, it is just as important to research the area around it and to decide what you want from it. Also look into the developers themselves, their track record, reputation, reviews etc.
Then when you have found a suitable site, arrange a viewing, this will be done in a show home or a marketing suite if one has not yet been built.
3) Make an offer
Once you’ve figured out your monthly mortgage repayments costs, you can make an offer. And remember, with new builds you don’t always have to offer the asking price. This is also your chance to barter for extras like fixtures, fittings, building design, extended warranty or money off taxes or higher quality features.
If buying off-plan you may also need to pay a reservation fee.
4) Financial and legal considerations
After this will be the searches, any property surveys and the drawing up of contracts – essentially the finalisation of everything from a legal and financial side of things.
5) The waiting game
With all the above it should just then be a matter of waiting for the big day when you finally get your keys.
The issues you can encounter
However, after moving in to your new build, you may then discover issues or defects that you want resolving under your warranty. But it’s not always simple to get these sorted and sometimes these providers can be deliberately difficult – this is where we can help.
With our expertise, we can offer support for you for any new build claims you might have, or any issues you may have getting these sorted by your warranty provider or developer. With our experience and insider knowledge we can help identify these, provide reports and see these through to resolution. What’s more we can offer helpful new build advice and guidance for you along the way.
If you are the owner of new build and are experiencing issues call us today on 0113 518 1751 for a free consultation.