What to Consider When Buying a New Build Property in the UK

29 August 2023 | Home, Property & Land | Author: Beth Abbott

Starting the journey of buying a new build property in the UK can be so exciting for you and your family. Offering designs that fit modern living, energy efficiency, and the chance to be the very first owner often entice buyers. However, there are some things to consider when it comes to purchasing a new build. From understanding contracts and guarantees to dealing with minor issues and keeping track of completion dates, being well-informed is important.

The following are perhaps the most important things to think about when you're buying a new build property.

Checking Out the Builder

Before you commit to buying a new build property, it's recommended to check out the builder and their history. Look into what people say about them, see what other projects they've done before, and read reviews from customers who've worked with them. Knowing that the builder has a good reputation and cares about making quality homes can give you a lot of peace of mind.

Physical Inspection and Snagging

Even though new build homes are expected to be handed over to you on completion in tip-top shape, it's still a good idea to have a good look around and make sure everything is just right before you move in. If you spot any small issues or things that aren't quite finished, that's called "snagging." Bringing in a professional can help make sure everything gets fixed up before you settle into your new home.

Making Sense of Warranties and Guarantees

New build homes usually come with warranties and Guarantees that cover things like building problems and structural defects. The most common warranty in the UK is called the NHBC Buildmark Warranty, but there are others too, like Premier Guarantee and LABC Warranty. It's a good idea to read up on these warranties and satisfy yourself as to what exactly they cover, how long they last, and if the builder adds any extra guarantees.

Looking Over the Contract

Pay close attention to the payment schedule, completion dates, and any contingencies or conditions that need to be met before completion. Ensure that the contract includes provisions for potential delays, penalties, and dispute resolution mechanisms..

When you're buying a new build home, you'll get a contract that lays out all the details. Reviewing the contract thoroughly is crucial when buying a new build property. Pay particular attention to when you need to pay deposit monies and other balances, when the house will be structurally complete, and dispute resolution mechanisms. If there are things you're not sure about, like what happens if things get delayed or if there are problems, speak with your property lawyer to help clarify any uncertainties and protect your interests.

Dates and Delays

Sometimes, the date when your new home will be ready might change. That's because building can be set bac due to construction or supply issues beyond the developer’s control meaning that things can sometimes take longer than expected. It's a good idea to keep in touch with the builder to ensure you stay updated on how things are going. That way, you won't be surprised if things take a little longer than planned.

Amenities on the Development

Before you make your choice, think about what's around the new build property. Are there schools, shops, and other local amenities nearby? Also, find out if there are any big changes or plans for the area in the future. Knowing all this can help you decide if the new home and the local area are a perfect fit for you and your family.

Be smart, informed and excited!

Buying a new build property in the UK is really exciting, but it's also a big decision. Remember to do your research and make sure you know what you're getting into. Checking out the builder, inspecting the house, understanding warranties, and reading the contract are all super important steps. Also, stay patient if things take a bit longer than planned, and don't forget to look into what's happening around the area. By being smart and asking for help when you need it, you'll be ready to make your new home yours with confidence!

Please contact me if you would like help with your next home