Thinking of buying a new build - any advice?

MrsAtobe

As the title really, Mr A and I are thinking about buying a new build from Charles Church, it will be ready in February. We haven't committed to anything yet, other than a valuation on our property, so does anyone have any hints or tips that they could share?

Thanks in anticipation.

wymondham

Have you looked at 'pre loved' homes or are you attracted to new ones?

Yorkie1

A few classic issues include:

- they tend to lose value immediately upon sale, so lenders are often reluctant to lend at high loan to value (unless it's one of the special house buying schemes) because the risk of the lender not getting their money is increased.

- you often have to exchange early on in the process, with a non-fixed completion date. This runs the risk of something happening in the interim period which results in your mortgage offer being withdrawn but you being forced through the courts to complete despite having no mortgage. Get a solicitor who is genned up on this issue and puts something into the contract to protect your position.

- you may find that similar houses nearby go for about 10% less, but are only a couple of years old. Might be worth investigating.

MrsAtobe

wymondham wrote: »

Have you looked at 'pre loved' homes or are you attracted to new ones?

Unfortunately we have become sensitised to the noise that next door make (some may think it's perfectly normal and OK), and our health is being affected. At least this way we know that there is an end in sight.

Not overly concerned about the house losing value straight away, as we do intend to live in it until I retire, which is 20+ years (sob). We'll be putting down 4/5ths of the sale price of our house, so hopefully that won't be an issue.

Thanks for the tip about getting the solicitor to put something in the contract about an open ended completion date, and the mortgage offer, very good advice.

Keep them coming, this will only be the second house I've bought, so I really am a bit naive about this!

Contessa

bump to jump spam

iwilldoitthistime

I would buy a detached house, its heaven not having next doors noise

MrsAtobe

iwilldoitthistime wrote: »

I would buy a detached house, its heaven not having next doors noise

Funnily enough, that's exactly what we have in mind:D.

BobQ

MrsAtobe wrote: »

As the title really, Mr A and I are thinking about buying a new build from Charles Church, it will be ready in February. We haven't committed to anything yet, other than a valuation on our property, so does anyone have any hints or tips that they could share?

Thanks in anticipation.

Only ever bought one new build in my life and would never do it again unless it was as an investment in a time of rising house prices

When you choose your plot consider whether that area will be complete and easily accessible and the time of year. You may find that for some weeks you have to navigate muddy roads to reach your property.

Negotiate on price or free xtras.

Allow for the possible costs of extras which soon mount up. Be practical, worthwhile extras the builder does may not be those you most want or initially need. For example, pick those that cannot be so easily done after you have moved in. So go for extra powepoints and wall lights rather than kitchen floor tiles which you can easily do after you move in Equally, if you do not have good rear garden access, getting nice floor coverings done by the builder might not be the right choice if a couple of months later you have to carry building materials through the house to lay a rear patio etc.

Mickygg

I've just sold my new build. Been here for several years but I'll never buy another one again. Walls made of cardboard and non existent soundproofing.Also don't buy off plan. Worst mistake ever.

jamesml

Any particular reason why it was the worst decision ever? A little detail (anything!) would go a long way.

Own_My_Own

Check what cupboards there are !

Our house has NONE !

New combi boiler means no airing cupboard.
Down stairs loo means no under-stair cupboard.

There is nowhere to keep the vacuum or mop, and can really become a pain.