Things to look out for when buying a new build

New builds offer the unique promise of modern amenities, energy efficiency, and most importantly, a fresh start. When buying a new build home, it’s important to approach the process with caution and thorough research to ensure that you’re making a wise investment. Here are some of the crucial factors to consider when buying your first new build home. 

Warranties 

Many new build warranties are designed to give homeowners peace of mind for the first 10 years after the construction of the property. The NHBC Buildmark warranty is the most common in the UK, covering defects in the first 10 years after construction. Make sure you understand the coverage and any additional guarantees provided by the builder, as you will need to refer back to this if there are any problems with your new home.  

Leasehold vs. freehold 

One key element of buying any new property is finding out whether it is leasehold or freehold. Traditionally, new build houses are typically freehold, whereas new build flats are often leasehold – but it is imperative to check. If it’s a leasehold property, you will have to pay ground rent to the freeholder, and you may also be limited in what changes you can make to the property. Your solicitor can investigate for you and make sure there aren’t any unfair restrictions before you exchange contracts with the seller. 

Moving in delays 

Unlike traditional homes, you may buy the home during its production, which means delays are probable.  

Here are some of the most common reasons for a delay upon completion of a new home: 

• Poor weather 

• Lack of materials 

• Labour shortages

Contact us 

Are you keen to get moving this season? Get in touch with your local Guild Member to start your search.