Buying a new build is exciting, but before you start planning for the future in your new home, it’s essential to be aware of the questions you should ask before agreeing to purchase or signing the paperwork.
New build homes can come with similar worries and concerns that traditional properties do, so knowing exactly what you’re buying is a crucial step in the process. In this blog, we’ll take a look at some of the most FAQs on purchasing a new build home.
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Although you may think this seems like a bit of an obvious question, it’s important to know exactly what property and assets come with your new build home.
In addition to purchasing the house, you could also be responsible for a garden, outbuilding, driveway and much more.
At the time of the enquiry, you should ask for a list of everything the property includes. This will usually contain itemised white goods, information on garden space and parking facilities. You should find out what is included in writing before signing any documentation or contracts to avoid problems down the line.
In general, new build flats or apartments will be leasehold properties, which means that you enter a lease from the freeholder to use the property for a certain amount of time — this is common for 90 and 999 years on new build properties.
Leasehold properties will come with regulations or rules from the freeholder, which will give information on alterations to the property or keeping pets.
We would always recommend finding out details of maintenance fees and ground rent which can change. So, it’s important to know this information before committing or signing any paperwork to make sure that you are happy with the agreement in place.
The housing market has seen a rise in houses being sold as leasehold properties, and this is down to the builders charging rising fees for ground rent, among other things. While the government has announced it will ban leasehold new build houses from being sold in the future, you should always be aware of the terms and conditions of the purchase agreement.
Restrictive covenants refer to the restrictions that are put in place to stop property owners. The restrictions are usually enforced by home builders on large developments and can include changing the appearance of the property for the purpose of everything remaining uniform.
It’s vital to be aware of the restrictive covenants, especially if you’re planning an extension to the property in the future. Other modifications that apply under the covenant can include CCTV and satellite dishes. We would always recommend finding out if there are any restrictions before purchasing as they can impact your ability to sell further down the line.
You should always ask the developer or agent about future development plans, which can directly affect your living situation. For example, surrounding green space could soon be a plot for a new development or housing phase.
You should ask about extensions to the development before purchasing so that you can consider things like parking at peak times, traffic jams, green space and the surrounding community.
You should definitely find out whether the builders or development company have worked on housing in the past and what their reputation is. If they are located within travelling distance, you can go and visit them and speak about the property plans.
By speaking directly with the development company, you can gain insight into the quality of work, style of the build and layout features. This is a crucial step to gauge the expectations and standards you should expect from your new build home.
Looking for more new-build advice? Explore our other blog posts on Buying a New Build and reserving a new build plot or if your ready contact Snag List Pro to schedule a professional snagging inspection once your dream home is ready.
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Snag List Pro provides professional snagging surveys across the South East, covering all major towns and rural areas throughout Kent, London, Surrey, Essex, and surrounding regions.
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