First Time Buyer Tips

mattbass

Hi all, first time on this board due to not having been involved in property before. But am here now for the obvious reason. First time buying.:eek:
I am viewing a new build property tomorrow and would like to call on others experience of things I should ask? As its a new build there wont be a lot of anything in there I realise that, but what else should I be looking for and asking about. Sorry the question is a bit vague but any tips or advice greatly recieved.

ailuro2

Take a tape measure and measure out the size of a 5' by 6'6 bed in the main bedroom,and see how much space is left.;)
Sometimes the show homes have 'small' furniture to make the rooms look bigger.

RHemmings

mattbass wrote:

Hi all, first time on this board due to not having been involved in property before. But am here now for the obvious reason. First time buying.:eek:
I am viewing a new build property tomorrow and would like to call on others experience of things I should ask? As its a new build there wont be a lot of anything in there I realise that, but what else should I be looking for and asking about. Sorry the question is a bit vague but any tips or advice greatly recieved.

My first inclination is to give you a single word answer - "don't".

Research other developments by the same developer. If there are frequent problems with them, the same problems will quite likely occur with yours. Consider how many other properties of a similar type are going to come on stream in the area. Ask about the materials being used and search online to see if any are considered "substandard" or "cheap". Even if you're not planning to rent out the property, think carefully about whether it would be a good deal as a rental property, as interest from BTL may help support (or fail to support) resale prices of your property. Depending on the type of property, think of the kind of things a property needs to be liveable, and make sure they are all there. Storage is commonly short in newbuild flats, which makes the properties unsuitable for familes. If there is a mixed use development, consider what sorts of purposes properties in the development will be used for, and therefore what sort of community there will be there. Ask the developers how much interest there is in the development, and ask for actual numbers. Remember that they may lie or give inaccurate information. Ask for their plan on how units will be released. If there are still a large number to be released, and demand is not good, they might discount later properties, effectively devaluing yours. Of course if demand is high, the opposite could happen. I've seen a big diagram in a development saying exactly which flats were sold. And only few of them had.