Should I buy a New Build Home?

What to look out for when making that BIG decision…

The UK is facing a housing crisis. This crisis means we need 340,000 new homes each year to keep up with the ever-growing population! These figures show that you can expect a lot of new build homes to be appearing in the next few years.

However, many people have a negative perception of new build properties. This is due to common complaints from people who have moved into a newly built home just to find that corners have been cut during the build, and things don’t work as they should. There is also the misconception that new houses are ‘cookie cutter’ and lack personality.

So, is buying a new build home a good idea, or will it be more headache than it’s worth? This article will give you all the information you need to make the right choice when buying a new home from a builder or developer.

Choosing the Right Developer

Buying a new build house is just like buying any product; the quality of what you buy depends on the business you are buying from. So, if you’re buying from a nationally recognized developer with thousands of positive reviews and years of experience, then it’s highly likely you’ll end up with a new home that you’ll cherish for many years.

However, if you buy from a local developer with no track record-or worse, a negative one- then there is a chance that you will inherit a property with problems. This isn’t to say that you must buy from national developers. Some of the best developers are small-to-medium firms that put passion and pride into building a small estate rather than trying to build hundreds of houses in as little time as possible.

Ask the developer about their background. Speak with homeowners who have bought from them in the past, look at show homes and understand what guarantees are coming with your new home. i.e., if the sink starts leaking, then whose job is it to fix it and pay for it?

Try Before You Buy

Buying a house off-plan is a great way of securing your new home at a competitive price, and it gives you the certainty of knowing your new home is reserved and won’t be sold to someone else. However, this comes with an element of trust. Trust that the house you have bought based on floor plans will be what you expected when it is built, and trust that it will be built on time.

Try not to let excitement overcome you when buying off-plan. If you trust the developer and you’re buying in an area that you want to live in for a long time, then it is worth contemplating. However, don’t rush into buying something based on promises alone. Ask for floor plans and CGIs. Make sure you are legally protected in the instance that what is built is not what you bought.

One of the best things you can do is to visit other sites that have been built by the same developer. How do the houses look? Are there people living in them, or are there ‘for sale’ signs as far as the eye can see? If you’re impressed with the developers’ previous builds, then it’s highly likely you’ll love their new ones!

Other Benefits to Consider

Many developers offer discounts on stamp duty, legal fees and even white goods. They do this to entice homeowners to buy from them rather than buying an older house off the open market.

Despite the discounts and incentives, the choice you make will depend on the mortgage you can get. You never know, you might be able to borrow more than you think, which means you can buy that lovely house at the edge of the development with the scenic view.

To find out how much you can afford, book a free consultation with one of our expert advisors here. We’ll help you to find a cost-effective mortgage that lets you live in the house of your dreams.