Owning a new-build property is a dream for many homebuyers. No one has ever lived there; the bedroom, bathroom and kitchen are brand new while the décor is immaculate. If you are looking to buy a new-build property, here is everything that you need to know.
Get to know the developers
Make sure you do some research on the developers in the area where you want to buy. Look out for where they are mentioned online and see what people are saying. If possible, visit other completed sites to see the standards applied. It is essential to see if their work stands the test of time.
Watch out for warranties
When buying a new-build property, you need to make sure that the developer is part of a warranty scheme. A new home warranty is a 10-year insurance policy that protects buyers of new homes from structural defects. It offers peace of mind that the building has been built to a standard set by the warranty provider.
Find out what’s included in the price
If you are buying off plan there will be nothing to see yet so make sure you know exactly what you’ll get for your money. Does the price include a parking space? What about the furniture? If you are buying within an apartment block, you should also find out the costs of the annual service charges.
What you see isn’t always what you get
Before a development is completed, builders use show homes as a selling and marketing tool. Always remember that this is only an indication as you may not be buying the exact same style of property.
Do a snagging survey
A snagging survey is designed to check for problems within a new-build home. Developers need to fix problems identified in snagging surveys ideally before you move in.
Benefits of buying off-plan vs on-plan
Buying ‘off-plan’ means purchasing a property that hasn’t yet been completed. When buying off-plan you can secure the best plot or even get a discount on the purchase price of the property. One of the main advantages of buying off plan is that the property is brand new and you can have an input into the interior decor, fixtures and fittings.
Kingsley Hamilton Estates’ new-build portfolio offers plenty of choice for first-time buyers, investors, and those looking for a brand new home. Our extensive new home collection ranges from apartments in Elizabeth Line hotspots such as West London’s Ealing, luxurious Versace designed suites in the heart of Battersea, to apartments in the heart of Salford’s MediaCityUK, to stunning riverside apartments in Liverpool.
Are you thinking about buying a new-build property? Call the Kingsley Hamilton Estates team today on 020 7078 0214, or email firstname.lastname@example.org and we will be in touch shortly.