Buying a new build home is something that has become incredibly popular in recent years, typically in the past new build homes were difficult to find as on the whole people moved between existing houses whether they were trading up for more room or downsizing to somewhere smaller or in a different location. But these days there are lots of new developments popping up all over the UK, with many modern features that make them the perfect solution when looking for a new home.
But buying a new build home is a different buying process to buying second hand, being the first person over the threshold in a new home will mean that you are faced with a blank canvas, so no serious redecorating and wallpaper stripping will be needed. This alone is a major deciding factor for many new build buyers; being able to customise their home to their liking easily.
But you should practice caution as you may not have to deal with onward chains and blind bidding like with buyi ng homes 'second hand' there are other things to watch for such as the builder's own timetables. A lot of new build purchases are made before the property is built or finished so you'll need to bear in mind that sometimes delays can occur and your move in date may not be set in stone.
Also as a part of the reservation process you will often have to place a deposit to secure your property, but then will have a limited amount of time to arrange your mortgage and funding to complete the purchase. If you miss this deadline then it is possible that the property developer will offer the property to someone else and your name will be taken off their list. This is where you may need to do more chasing and diligence to make sure that mortgage lenders and other parties get their work completed as quickly as possible as it has been known in the past for a deal to fall through through no fault of the actual buyer but because of a lender not completing the work on time.
So if you are planning to buy any new build homes you still need to keep your wits about you and choose a respected house builder or property developer. These are the companies that will be able to help you get the best possible deal and explain every step of the purchase whether it is your first new build purchase or first actual property purchase you've had to make.
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