Buying a new build property
Now is the time to buy a brand new home and gain substantial discounts and contributions to stamp duty or fees.
As it seems you can get the edge on investors not only for the good incentives offered from developers across London, but also because the interval in price between new-build and second-hand properties starts to narrow.
Although, buying a brand new home is a great experience, it comes along with certain challenges.
If you are buying a new home before the building is complete, (off plan), then you have the great opportunity to negotiate the price with the developer further down. However, before you take your final decision about the property, you have to consider some very important aspects of what you are buying, as nothing yet has a complete physical form.
Developers build show homes or units to use as a selling tool, but the house you are going to buy may be on another floor or in different plot, which means that you need to take into consideration the deviations in lighting or perhaps possible differences in noise levels.
Whether you’re buying off plan or new, make sure that your builder is part of a warranty scheme. A warranty scheme will offer you protection and secure the deposit you’ve paid, while it will ensure the agreed standards of the built and provide you with a resolution service in the event of a disagreement.
Pay attention to the space that you see in the plans and see what extras you can get by talking and persuading the developer. Some important details that may for example concern additional light fittings can make all the difference in the world when you will move in. You might even push to have a say in choosing colour schemes or flooring.