Buying a new build property is an exciting prospect for new owners, but can be fraught with challenges. It is possible to make the process of buying a new build a little easier, with the help of the following tips.
You should negotiate the final price of a new build property, just as you would if buying a pre-owned home. Generally speaking, the earlier you sign up to a new development, the better the deal will be. However, you are still free to negotiate a better deal.
Make sure that you know exactly what is included in the price before signing a contract. Don’t presume that everything will be included, like white goods or even the turf for the garden.
Don’t be fooled by the show home. These homes are designed to sell a development, so although they will have some furniture in, you will undoubtedly have far more, which will impact on available space. If the home you buy is in a different position on the plot, this could have an effect on light and potential noise.
Find out a little about the other buyers before signing a contract. Try to ascertain the ratio of owners to investors, as you may not want to live on a development with mainly tenants. If you are among the first of the buyers, consider whether you want to spend the initial time in the property surrounded by builders and noise.
Prior to approaching a developer, contact a CeMAP qualified mortgage adviser to discuss your mortgage options and how buying a new build property could affect it.
