Introduction: One of the best emerging trends in housing is buying or constructing your own new-build property! This article explores everything you need to know about this process, from understanding new build properties and their characteristics, to the process of buying a new build property and all the advantages as well as disadvantages that come with it. You’ll also find handy tips and useful answers to the most frequently asked questions about this process.
I. Understanding New Builds
A. Take a look into the concept of a new-build house and its defining characteristics
B. Explore the possibility of existing properties being described as new build after undergoing extensive renovations
II. How to Purchase a New Build Property
A. Key considerations before taking the plunge and deciding to build a house
B. All you need to know about buying off-plan, and the perks of investing in this kind of investment
C. Learn how to leverage the absence of an onward chain and the benefits it offers
D. Uncover the advantages of new build warranties and understand how they provide you with protection
III. Potential Discrepencies with New-Builds
A. Get informed about price premiums and the risks of value depreciation
B. Consider the lack of space most new builds tend to offer compared to traditional properties
C. Explore the potential issues with build quality, snagging, and after-sales service
D. Think about the consequences of off-plan delays and their impact on obtaining your mortgage
IV. Wisdoms to Keep in Mind When Investing in a New-Build House
A. Discuss the importance of negotiating on price with the developer
B. Focus on researching the developer’s background and their previous work
C. Look into the possibilities of potential build delays and their implications
D. Emphasize the significance of snagging inspections and surveys
V. Questions to Ask before Investing in a New-Build Property
A. A comprehensive list of questions to get answers from the developer
B. Questions that cover topics such as the developer’s suitability, inclusions, warranties, and property ownership
VI. Assessing Your Options with a New-Build Home
A. Answers to common buyer questions, such as eligibility for the Help to Buy scheme and the long-term value of the purchase
B. An exploration into the essentiality of surveys for new builds and the possibility of extending the property
VII. Making an Intelligent Decision
A. Recapitulating the key points mentioned in the article
B. Takeaways to keep in mind when you are considering buying a new-build property – knowledge, diligence, and affordability
Conclusion: Jumping into the new-build pool is a big decision and it can be overwhelming with all the details and potential disadvantages. However if you come prepared and familiarize yourself with the details and doing your due diligence, investing in a new-build property can be a wise and rewarding decision! So go ahead and begin discussing with developers and researching the ideal building designs for your new home.
