Buying a new build home is a dream for many people. No one else has ever lived there, the bathroom and kitchen are brand new and decoration is immaculate.
The development will be modern, no run down properties or undesirable neighbours.
For many this dream comes true but there a few things need you need to consider to ensure you are making the right decision.
We have compiled a guide of some things to look for before buying a new build home:
- Don’t get hung up on condition. You need to see past the clean, bright, neutral carpets/decoration. The condition of every home will deteriorate. After a year when the property has a few scuffs and scrapes will it still be the right place for you?
- Once you get past the immaculate presentation you will often find that new builds room sizes are smaller than traditional homes. Are you happy with that trade off?
- Garden sizes are often small as builders look to maximise the number of plots on a development. Are you happy with a postage stamp garden? Will you want more in future?
- Plots are utilised to the maximum, normally no chance of adding value or space at a later date with an extension.
- Homes will not be individual, you may soon decide that white walls and cream carpets are too bland and you will end up spending money on decoration.
- Amenities in local area may not be developed. You may find shops, pubs and schools are a significant distance away.
- Continuing development in area, often build developments are done in stages. What started out as a small development in a semi-rural setting could become a development of thousands of houses with a couple of years.
- New Builds tend to be marketed at a premium to second hand homes. See what the difference is, if you are prepared to do a little bit of work you may be able to get a good deal second hand.
- Use an independent solicitor who can explain to you the implications and costs attached to any lease or ground rents. Whilst most are very normal and fair, some developers attach high charges to these ongoing costs and hope that you don’t notice.
- Every newly built home will have some snags, whether the plaster has cracked whilst drying, a window has blown or drainpipe isn’t properly secured it is the builders responsibility to fix the issues. You can consider employing a professional snagging inspector if you are unsure of what to look for.
This guide should not put you off new builds as most of the points should be considered when buying any home whether new or second hand.
Also everyone has different requirements from their home, with many of us preferring a smaller garden and the convenience of a low maintenance new build.
The purpose of guide is to stress the importance of thorough research, whether it is new or established home.
If you consider all these points before committing to buy any home you should make the right decision.
There is also a wide spread perception that you cannot negotiate on the price of a new build home. This is simply not the case! Developers are often more open to negotiating on the price than if you buy from a normal home owner.
Many of the bigger developers like Taylor Wimpey also offer part exchange schemes, which means you can secure your new build without having to sell your home first.
There are also independent companies that offer part exchange home schemes if your developer can’t help. These are a great option for people looking to sell their house fast and move into their dream new build.