Buying a New Build

Step-by-Step Guide

When considering buying a new build house, thorough research and careful planning are essential. Here is an informative and easy-to-use guide to help you navigate the process:

Research the Developer

Before making any commitments, it's crucial to research the developer. Look at their previous developments, visit the sites, and observe how they have aged. Speaking to residents about their post-build experiences can provide valuable insights. Ensure the developer has signed up to various Codes of Standards and Quality, such as the Consumer Code for House Builders and the New Homes Quality Code.

Compare Developers and Incentives

Not all developers are the same, and comparing them can help you find the best fit for your needs. Look at the incentives they offer, such as discounts, upgrades, or financial assistance. Calculate what works best for your budget and requirements.

Selecting Your Plot/Property

Once you have chosen a developer, the next step is to select your plot or property. Study the terms of the contract between you and the developer. Take advice to ensure you understand the terms and conditions you are agreeing to. If you are buying off-plan, make sure the contract includes:

Short-stop date: An estimate of when the property will be complete.

Long-stop date: The date by which the property must be completed.

These dates provide a timeline for completion, which is crucial for managing your mortgage offer. Remember, a mortgage offer is typically valid for six months, so ensure the long-stop date is before your mortgage offer expires or confirm that your mortgage offer can be extended.

Pre-Completion Visit

Before completion, always visit the property to ensure all the work and fittings you agreed on have been completed to your standard. This visit is essential to identify any issues before finalising the purchase.

Snagging List

Once the property is complete, begin your snagging list. This list includes any minor issues or defects that need addressing. Ensure the developer has an efficient post-completion snagging programme to handle these issues promptly. Disputes post-completion can be time-consuming and extremely frustrating, so it's best to address them early.

Final Steps

Before moving in, ensure all necessary inspections and certifications are completed. This includes checking for compliance with building regulations and obtaining any warranties or guarantees. Having everything in order will provide peace of mind and protect your investment.