Buying a new build home

January 4, 2016 by Brendan O'Neill

Advice & Tips

A new build home is a good option for a range of circumstances, whether you are looking for your first property or want to downsize now that the children have flown the nest.

There are many benefits to buying a brand new house, especially if you like the idea of being the first people to live in it. You will generally have a guarantee of around 10 years and the cost of any repairs or maintenance should be low for the first few years. However, there are some pitfalls you may want to look out for when buying a new build.

As you will be making a large financial commitment when you buy a new build property, you expect everything to go smoothly and to receive a high standard of care throughout the process. Carry out some research on the property developers which you are considering so that you know that you will get the best service possible.

A new home is likely to cost more than an older property in the same area, so if you intend to relocate after a couple of years, a new house may not be the best choice for you. You may be able to negotiate a deal with the developer if you have found similar properties which have sold for less. Consider the whole package and compare developers, as some may include a lot of extras within the sale price, like new furnishings of your choice, appliances or car parking facilities.

Take your time before making a final decision, consulting a CeMAP qualified mortgage adviser if necessary.