Buyers are often attracted to New Builds by the vision of being able to move straight in but with developers under increasing pressure to hit sales targets there are often horror stories of properties still needing windows to be installed, gardens and patios to be laid and workmen still in the house!
So, with the Government’s push to have one million homes built by 2020, how can you ensure that you are buying a quality product?
- Look out for properties that carry the Home Quality Mark (HQM)
- Research the property’s developer and its reputation. Useful websites include NHBC, Home Builders Federation and online forums
- Make sure that you arrange your “Snagging Appointment” prior to completion. You can search online for useful snagging checklists to take with you.
- Have a survey – buyers often rely on the Certificate issued by the Warranty Provider but we would also recommend that you have your own independent survey carried out
- Check any incentives on offer and make sure that you speak with your Solicitor. It is important to remember that verbal promises on site will not form part of the Contract so make sure you update your Solicitor if any promises are made on site.
- Check what is included with the purchase price. Many properties do not include floor coverings and that “Show Home Finish” might require some significant upgrades on the basic model! Don’t forget that upgrades and extras may also lead to a higher Stamp Duty Land Tax bill.
- Check the Reservation Form and the small print carefully. If in doubt, speak to one of our solicitors.
- Ask to look around the whole development site – you might be surprised with what you find!
- Use an experienced Residential Property Solicitor to carry out the Conveyancing process. Here at Lupton Fawcett we employ a team of specialist solicitors in each of our offices across Yorkshire to give you the best service available
If you have any questions on buying a New Build, please contact Sarah Sargent, Associate Solicitor, or a member of the Residential Property Team.