Top Tips for Buying a New Build Home!
When looking to buy a home, it seems obvious that the home itself is priority. However, it is also important to get to know the team behind the build and ask any important questions that are on your mind! Have a look at other projects completed by the developer if the site you are interested in isn’t yet finished. You might get some ideas about the end result in advance and can also see the quality of the projects.
Get a feel for the area your new home is in. Visit the local area and check your commute to work is what you were looking for! A new build home can be a great way to meet new people and be part of a community however it is always important to check the rest of the area is what you need.
It is common knowledge that you will pay a premium for a new build home. That being said, you aren’t going to be needing new windows, rooves, kitchens or bathrooms for MANY years to come! It can be extremely expensive updating an older home costing at least 5 figures! With a new home the work has been done for you. From design to planning and execution, buying a new home saves you not only money but time as well, leaving you free to enjoy it with your family. Ultimately, repairs and redecoration costs are likely to be very minimal for the first years in your new home. The majority of new properties will also come with a 10-year warranty. Some new homes are available furnished which can make the process a lot simpler and smoother particularly for first time buyers. At Rossington Homes we offer a bespoke service in which we can furnish your home in affordable way, making your new home stylish and ready to live in immediately!
Plan for the long run. The costs of moving house add up and if you can choose a home that you will be happy in for many years, this can be extremely beneficial. Consider the sort of space and size you will need moving forwards and assess if the new home you are looking at will accommodate for this.
We also recommend understanding whether your new build home is freehold or leasehold. Usually, leasehold leases are long, up to 999 years. That being said there can be certain restrictions on leasehold properties meaning permissions are required to modify your home, keep pets or sub-let the property. It is always sensible to check with the developer and the conveyancing solicitor the terms of any lease and understand what restrictions and charges may impact you in the future. It is likely apartments will be leasehold therefore this does apply to them in the same way!!
When purchasing a new home it is crucial to check there is a guarantee, in most cases the warranty will commence from the exchange of contracts and be for up to a 10-year period after the legal completion date. It is important to understand that the majority of warranties will not cover the quality of homes or workmanship. It is therefore beneficial to build a relationship with your developer early on in the process. Ask to see examples of completed projects if your new home is ‘off-plan’ to get a feel for the sort of result they are likely to achieve and this will give you confidence moving forwards.