Buying a 1 year old new build

badger09

sharathp said:

eidand said:

Selling a new build one year after buying it sounds pretty fishy to me.
Make sure you check everything in detail to avoid buying a terrible place.

We did think the same way.....but after having some friendly chat we got to know they have developed health issues and stairs have become a problem to them hence they were looking for a bungalow. 

I was going to agree with others who said unlikely an older couple would want to downsize after such a short time, but that makes sense.

In fact, we could be described as an older couple When the purchase of our 4 year old 5 bed new build fell through recently, we re-evaluated what would really suit us. Despite still being able to climb stairs, we're now buying a 4 bed bungalow.

jimbo6977

sharathp said:

jimbo6977 said:

sharathp said:

Hello All,
We are a first time buyers and have an offer accepted on a 1 year old new build, could you please suggest:
1. Do's & Don't
2. Things to know
3. 2 years Developer warranty transferable?
4. 10 year warranty transferable?
5. Anything else to be accounted for please

We did similar (6mths old rather than a year)

Do - approach it like buying any other property (perhaps friends/family can inform you if they have experience of buying "pre-loved" homes) - the fact it's new makes very little difference. 

Things to know - once he's got the money, the developer will not give a monkey's, and the warranties probably aren't worth very much, so anything you want sorted, get it sorted BEFORE you buy and be prepared to walk away if this doesn't happen.

The main problem we had was that the property had not been properly ventilated, and mold had been allowed develop. Try to check behind things like kitchen fittings if at all possible - we had the developer take the whole kitchen out, walls sorted, etc before we bought. Check in the corners of rooms for signs of damp/mould, use a torch to check for changes in colour in the walls and have a feel to check for changes in texture of the walls.

Make sure any shrinkage anomalies have been made good. 

I'm sure there are other things that people will be along with!

Thanks @jimbo6977
Mine is sold out from the developer and is occupied for 1 year by an old couple who wants to downsize.
also where to look for shrinkage anomalies please.

Sorry I misunderstood, the home has been occupied therefore hopefully shouldn't be any ventilation issues (although you never know - some people seem allergic to opening a window. A friend of mine bought the flat below where I lived previously and it seems the previous owners lived in a permanent steam-bath-esque ambiance leading to a lot of, well, issues). When you view dies the air seem fresh? Or damp? Or lacking oxygen?

Shrinkage occurs often where the staircase meets the walls, where the ceiling plasterboard was screwed on (bullet hole type effect every few feet), sometimes around window recesses, or door frames. 

jimbo6977

In respect of the old couple finding it's not for them, my in-laws rushed into buying a new build for perfectly admirable reasons, but they also would honestly prefer something different. 

BMilo1

Just make sure that the property is a true freehold (if it's a house) and not "Virtual Freehold". With a lot of new builds these days, the council won't adopt the road so you will probably have to pay an annual maintenance charge for the upkeep of the road so just make sure this is affordable an can't be increased too much in future. Also check what restrictions come with the property, make sure there's no requirements to gain consent for changes and other things related to the property. For example a friend of mine had to gain consent from the developer to have a pet in a property which she owns! I've also heard of people having to gain consent to change a door bell and had to pay £300 for the request! Your solicitor should point anything onerous out to you but though it might be useful to make you aware of some of the pitfalls that potentially come with new builds.

wjr4

I’d check how much they paid for it and how much it is being sold for. The mortgage lender may under value it.