Buying a brand new home can feel really special, but can also present challenges along the way. There are some steps you can take to minimise the problems you may encounter when buying your own newbuild.
If you buy your home off-plan, which is the period before the property has been built, there will be nothing to actually see. Check with the developer to see what you will actually be buying with your cash, for instance, all the white goods in the home, parking space, garden turf, and any other features you will require. Knowing what you are paying for will help you to budget for any extra costs.
Be realistic about the property, especially when you are looking around the show home. These are designed to create maximum space and light, to lure the buyer. Picture how the property would look when all of your furniture has been moved in, including the wardrobes, cupboards for storage and your personal belongings.
Find out who the other units have been sold to, so that you can gain an idea of how many will be rented out. You may not want to be the only permanent resident, surrounded by various short-term tenants.
Don’t make any changes to your personal circumstances before the house is complete. A mortgage offer will generally stand for a few months, but the property may take longer to build and complete. If you have taken on any financial commitments or moved to a new job, the lender may not approve you for a mortgage. CeMAP qualified mortgage advisors can offer helpful advice when buying a new build, which can make the process easier.
