Buying a home for the first time is both exciting and daunting, and it can be exhilarating to think that you will be the first person to live in a new build.
Since the property is brand new, there are not likely to be many problems with it for several years, and unlike buying an old property, what you spend should provide safety and comfort.
New builds also adhere to eco standards, which means you will save money on bills. With all of these positives, it’s also a good idea to consider certain aspects, to ensure you make a savvy choice for your new build.
Choosing reputable developers
Do some research and choose a reputable property developer, checking their other property profiles where possible. You are relying on the developers to have your home ready and to the spec you require, so having a good relationship is key.
When buying a new build, or house of any sort, you must consider what you are buying for and what your plans are in the coming months or years.
If you meet someone, could they move in, sensibly? If you plan on children, is there enough space? It’s advisable to stay where you are for the next few years at least, to see the property increase in value.
If your new build comes from a partially finished site, a good way to introduce yourself to neighbours could be asking their advice on the buying process.
Research the local area to find out the cost of older properties in the area, in terms of their value, space and rental value so you have a deeper understanding of what you will have in store once you buy.
Hunt for extras
The property market is fiercely competitive and as such, many developers offer incentives like parking spaces or free white goods when you buy.
You may be able to negotiate some money off the price, or some even offer to pay stamp duty. Speaking to people who have already bought with the developer might help with this.
Whilst the thrill of the purchase is something to look forward to, you should be further future proofing by considering what you can do to add value to your property. For example, can you extend it with a conservatory or build into the attic.
You may not be able to consider these add-ons at the beginning, but choosing a property that affords you the option means you could be adding value when you are ready.
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