Buying a new home that's been built from scratch can be quite different from buying a resale house. Here's the whathouse.co.uk guide to the purchasing process.
This article contains:
· Housebuilders and developers
· The purchasing process
· More information
Housebuilders and developers
A new home is one that has been built from scratch by either a housebuilder or developer. A housebuilder generally employs everyone needed to build a new house, from land buyers and architects to bricklayers and site managers. A developer tends to contract out these elements of the new home construction process, although they will still have control of the project
The purchasing process
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You can choose either to buy a brand-new home that is ready to move in to, or a new home that has yet to be built - commonly called
buying off-plan .
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In both cases, a housebuilder or developer will have a show home or mock property so you can get an idea of style and proportion.
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Housebuilders and developers normally require a small holding fee that will secure a property you would like to purchase. This stops somebody else buying it before you have put down a deposit. However, you will have a limited time to pay the deposit - make sure you ask the housebuilder how long you have.
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You then place a deposit and instruct solicitors. There will be no chain ahead of you, so the buying process should run smoothly.
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Buying a new home means you don't have to have a survey but your mortgage lender will insist the house has a valid warranty and a independent inspection before funds are released.
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You will be able to choose some fixtures, fittings and finishes, depending on how early you buy in the building process. A housebuilder will have a display of all the options
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Some fixtures, fittings and finishes come as standard, and some are upgrades that will incur additional costs. What you see in the show home is not necessarily what will appear in your new home. Make sure you check with a sales adviser as to what is the standard interior.
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If you are buying off-plan, try to visit your new home while it is under construction to check the progress. It may be hard to get a firm moving date - bad weather and late deliveries can put back the building schedule.
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Although you do not exchange contracts, you do complete on a new property.
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Before or just after you move in, make sure you 'snag' the property. This means scouring the house for any defects or problems. You should then present any problems in writing to the site manager as soon as possible. The housebuilder will then come and rectify any issues.
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When you move in you should receive a manual that explains the running of your house. It also contains any appliance guarantees. Keep this so you can pass it on to the next owner.
More information
To find out if a builder is NHBC registered, call 01494 735 363.
For energy saving tips visit http://www.saveenergy.co.uk/
If you are in dispute with a builder and they are a member of the NHBC,
call 01494 735 363.