Guide to buying a new build property
Buying a new build property is incredibly exciting. Whether it's your first home, you're upsizing for extra space, downsizing to something more manageable or buying as an investment, new builds have so much to offer.
Location
There are thousands of new developments across the UK.
Choosing your location is no different to when you are buying a second hand property. Think about the local area, schools, transport and other amenities and whether it meets your needs.
Open Days
Come along to an open day for the development.
Open days normally come with an incentive, perhaps to promote a particular style of property, and it is worth asking when the next open day is scheduled. Incentives could include; paid stamp duty, help with moving costs, or part-funding of deposits. The sales consultant will be aware of any incentives available.
Show Home
View the show home to see the developer's standard finishes and the quality of the developer's workmanship - it should be perfect.
When you visit your consultant will advise of anything that doesn’t come as standard. Often built in wardrobes in the master bedroom are standard, but are an extra in other bedrooms. Take a look at where the power, television and telephone points are and ask if white goods are included in the price. Most developers include white goods in the price, but do ask the question.
Overall Development
Always ask to be walked around the whole development.
You will get a better idea of the other properties that are going to be built. This might not always be possible right away for safety reasons. In these circumstances, it should be possible to be escorted by the site manager and you will be provided with a high-visibility jacket and hard hat to wear. The tour will give you a better feel for the overall development. Always remember to look at gardens, are they north or south facing? A south facing garden is generally best in the UK.
Fixtures & Fittings
Depending on the progress of the plot you purchase, you may be able to choose finishes, such as kitchen work tops and tiles, and flooring options.
The earlier you decide to reserve, the more choices you will have, which may include a variety of carpet and floor coverings. However, be aware that not all developers include floor coverings as options, it is a question you will need to ask.
Deposit
Reserve your plot and future home.
After deciding on your plot, the sales consultant will ask for a deposit. The amount can differ from between developers and always check how much of the deposit will be returned if you are unable to proceed to full purchase. Once you have paid the deposit, your plot will be taken off the market and you will be advised of approximate completion dates. You will also be added to the reservation list and given a copy. The consultant will provide updates and will invite you to the site for update meetings and will ask you to choose your flooring and finishes if necessary.
Guarantee
Buying a new build comes with a guarantee and the peace of mind that everything is brand new.
Check with your developer what their guarantee covers and how long it lasts for, durations can vary from 5 to 10 years. At the handover of your new build home, your developer will normally spend some time with you to show where everything is and give you the guarantees for kitchen appliances, boilers, etc.
