Looking to buy a new build house or flat?
There's some steps you should take before setting your heart on a property.
From negotiation to checking warranties, these tips should help you prevent disappointment.
TV personality and property expert Phil Spencer revealed this important information on a Zoopla blog.
Check out his top tips below.
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1. Negotiate
Don’t be afraid to bargain for a better deal. Come prepared by doing your homework.
Compare prices from similar houses in the area. Or seek advice from a local real estate agent.
Do not assume the price is set in stone before you try to negotiate.
2. Keep an itinerary
Find out exactly what the deal includes when buying a new build house. Once you do find out, keep a list of it.
Does it include furniture? What furnishings does it include? Is there going to be a parking space? Will there be a garden? What are the service charges in the area?
These are important points you’d need to know if the house isn’t built yet.
3. Don’t be fooled by the show homes
Since the property isn’t developed yet, developers will often use a show homes to give buyers an idea of what it might look like.
Keep in mind that this is a very rough approximation of what your potential future home is. Picture all the items you own and try to fit them in the flat. Is it too cluttered?
As your house or flat will be at a different location, so there may be drastic changes in lighting, weather and noise levels.
4. Find out how many other units are sold
Nobody wants to be a loner – so make sure you won’t be the only resident around. To do this, ask about how many units have been sold.
5. Your builder has to have a warranty scheme
This is absolutely essential. It will provide buyers protection if the builder goes bust after paying the deposit.
NHBC’s Buildmark, Premier Guarantee and LABC Warranty are some of the largest warranty schemes.
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6. Learn about your CCHB’s
The Consumer Code for Home Builders is designed to help your understand what you should expect from your buyer.
One of the most useful parts of the Code is that it forces the builder to provide realistic information of when your home will be completed.
The CCHB will help you feel fully informed about your purchase and know your consumer rights before and after you move in.
7. Avoid applying for jobs
Mortgage offers usually have a three to six month period before they run out.
You might not always be able to re-apply as the lender could refuse it the second time if there are different circumstances.
8. Check for issues
Make sure there are no issues in the house or flat before you move in. Look for cracks in the walls and broken tiles.
Carry out a survey and check off everything in the list that isn’t in the best condition. The NHBC has a sample checklist here.
9. Find out what else can you get for free
Negotiate. That's right. It’s here twice. You may be able to get a lot more than you’d think if you just ask for it.
You may be able to pick out the colour of the walls or get extra lightings or sockets. You’ll never know if you don’t try to haggle for it.
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