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'Nearly New' Build concerns

Seaglass18
Posts: 3 Newbie

Hello,
I'm wondering if anyone has experience of buying a 'nearly new' build (3 years old) - I would be very grateful for any insight or advice. Briefly - I'm buying on my own, I'm a woman in my early 50's and work (more than) full time. Having spent a few years doing DIY every weekend in my current house, I thought maybe a nearly new would offer a less stressful experience (with the snagging done and dusted).
Now I'm not so sure...
It's a 2 bed Bellway and it would be freehold but the more I've dug about online, the more bad experiences I have read about. I have kept going because I've not viewed a property that doesn't turn my stomach in knots with potential repairs that's in my price range, in the area I need to look.
Fast forward a survey and searches on the Bellway one.. and the following issues:
There is an open soil and vent pipe which appears to vent into the roof void and there is little 'typical' ventilation (like you see in an older property). There is a windowless bathroom (not that rare these days) but the combination of the two is starting to make me nervous about damp forming.
The estate roads, drains etc have not been adopted by the council - and my solicitors currently have zero clue when they will do so. The developers advised my solicitor I will indemnify against possible issues.
The road on the estate has just been finalised / surfaced but there's no indication when the management company are taking over / how long it will take for that process, or what the fees will be annually.
I've now been advised that there is an expectation that I become a 'member' of the management company which again, I had no idea would be the case and don't understand the ramifications of that fully, now or further down the line.
The management company that it is likely to be, is a company that currently consists of two people and is dormant with no obvious financial accounts.
I'm also apparently going to incur legal costs associated with this management company in the process of purchasing - again unknown at this time.
No family or friends have experience in buying a 'nearly new' build so I am feeling a bit overwhelmed and although my solicitor is good, they simply present what they know. Ultimately it's for me to decide.
Am I getting cold feet for no reason? Is this normal? Should I run a mile?
Thank you for any experience or advice on this would be appreciated so much. I have a good buyer for my house but I cannot afford to make a bad mistake in my purchase.
Thank you if you read through to the end.
I'm wondering if anyone has experience of buying a 'nearly new' build (3 years old) - I would be very grateful for any insight or advice. Briefly - I'm buying on my own, I'm a woman in my early 50's and work (more than) full time. Having spent a few years doing DIY every weekend in my current house, I thought maybe a nearly new would offer a less stressful experience (with the snagging done and dusted).
Now I'm not so sure...
It's a 2 bed Bellway and it would be freehold but the more I've dug about online, the more bad experiences I have read about. I have kept going because I've not viewed a property that doesn't turn my stomach in knots with potential repairs that's in my price range, in the area I need to look.
Fast forward a survey and searches on the Bellway one.. and the following issues:
There is an open soil and vent pipe which appears to vent into the roof void and there is little 'typical' ventilation (like you see in an older property). There is a windowless bathroom (not that rare these days) but the combination of the two is starting to make me nervous about damp forming.
The estate roads, drains etc have not been adopted by the council - and my solicitors currently have zero clue when they will do so. The developers advised my solicitor I will indemnify against possible issues.
The road on the estate has just been finalised / surfaced but there's no indication when the management company are taking over / how long it will take for that process, or what the fees will be annually.
I've now been advised that there is an expectation that I become a 'member' of the management company which again, I had no idea would be the case and don't understand the ramifications of that fully, now or further down the line.
The management company that it is likely to be, is a company that currently consists of two people and is dormant with no obvious financial accounts.
I'm also apparently going to incur legal costs associated with this management company in the process of purchasing - again unknown at this time.
No family or friends have experience in buying a 'nearly new' build so I am feeling a bit overwhelmed and although my solicitor is good, they simply present what they know. Ultimately it's for me to decide.
Am I getting cold feet for no reason? Is this normal? Should I run a mile?
Thank you for any experience or advice on this would be appreciated so much. I have a good buyer for my house but I cannot afford to make a bad mistake in my purchase.
Thank you if you read through to the end.
0
Comments
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Hopefully not either of these locations https://www.bbc.co.uk/news/articles/cy7kgz5dv51o
Doesn’t inspire confidence…
2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shadingEverything will be alright in the end so, if it’s not yet alright, it means it’s not yet the endMFW #4 OPs: 2018 £866.89, 2019 £1322.33, 2020 £1337.07
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £13502025 target = £1200, YTD £460
Quidquid Latine dictum sit altum videtur1 -
The open soil/vent pipe in the loft should have an Air Admitance Valve (AAV) fitted. Sometimes these are left off by mistake, or sometimes they are removed to disguise a problem with the drains. I'd run a mile for that risk alone.
The windowless bathroom is ok providing you have a good extraction, which is to say a fan controlled by a humidistat (or a MHRV system with a boost function for the bathroom that is controlled by humidistat). Anything less will increase the risk of mould significantly, but the problem can usually be fixed by fitting a humidistat assuming the fan is already in place. It's desperately poor that you should have to spend money on a new house to bring it up to a reasonable quality (so that common problems are avoided). Building Regulations are still woefully inadequate in certain areas, and the developers have no morals.
I've no advice about the management company issue. It seems like a minefield. Lots of legal risks, and practical headaches. I hope you get some answers.
The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.1 -
When a freehold is split between many owners of houses or flats then they may each get a share in the freehold and this entity may be dormant ltd company that submits empty statements to HMRC.
It doesn't mean there isn't a management co that issues detailed budgets and spending statements every year to freeholders.
The dormant co can just be a way to split ownership through equal shares1 -
If it’s been ready for sale for 3 years and never sold, I’d want to know why. When I read your title I thought you were going to ask about being a second owner of a 3 yr old property.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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tacpot12 said:The open soil/vent pipe in the loft should have an Air Admitance Valve (AAV) fitted. Sometimes these are left off by mistake, or sometimes they are removed to disguise a problem with the drains. I'd run a mile for that risk alone.
The windowless bathroom is ok providing you have a good extraction, which is to say a fan controlled by a humidistat (or a MHRV system with a boost function for the bathroom that is controlled by humidistat). Anything less will increase the risk of mould significantly, but the problem can usually be fixed by fitting a humidistat assuming the fan is already in place. It's desperately poor that you should have to spend money on a new house to bring it up to a reasonable quality (so that common problems are avoided). Building Regulations are still woefully inadequate in certain areas, and the developers have no morals.
I've no advice about the management company issue. It seems like a minefield. Lots of legal risks, and practical headaches. I hope you get some answers.0 -
silvercar said:If it’s been ready for sale for 3 years and never sold, I’d want to know why. When I read your title I thought you were going to ask about being a second owner of a 3 yr old property.0
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I bought a new build some years ago, intially the management of the communal areas (car park, bin stores, green areas, some lighting) was carried out by the builders which was fine. It was then handed over to a management company made up of some of the owners. It was a nightmare, they almost immediately started fighting with each other, sending letters to all the residents on how terrible the other person was.They also started bad mouthing the builders saying they had left the gates to the car park in a dangerous condition, leading to the builders issuing a statement to all the residents explaining that this wasn’t the case.
One of the people on the management company owned a stationary company and all communications were sent out on very expensive paper and envelopes, which we all had to pay for, this is a minor issue and wouldn’t have bothered me if none of the other issues had occurred.
They had childish tantrums if people voted against changes they wanted, and then started sending out details of changes they wanted to make with only a couple of days to respond, which lead to me coming home from a short (less than a week) holiday to a letter outlining details of yet another change they wanted us all to pay for, and having to respond that evening as that was the deadline for objections.
I personally wouldn’t ever buy a house where there is a management company ever again, I appreciate my experience may be particularly bad, but I have heard of others similar and worse.1 -
The management company and lack of council adoption plans means you will have to pay a service charge. If the builders are still working on the wider development then it may not be now, but once they leave the residents have the responsibility for the roads (and the legal liabilities, if poor maintenance resulted in a member of the public falling over etc).
This isn't necessarily a deal-breaker, there are many properties and estates of this type and while it is annoying having to pay council tax for everyone else's roads, but also having to pay service charge for your own, it's not the same sort of money as a leasehold.
You will see articles on 'fleecehold' that will mention Law of Property Act that allows the management company to effectively turn your property into leasehold if you don't pay your service charge. However this wasn't really the aim of the law, and wasn't really the aim of the developers, so usually deed of variation sorts it out.
I have bought an ex-new build (i.e. one still in the 10 year warranty period) and to be honest it's the best way to buy a 'new build'. You get a fairly modern house, but don't have to pay the premium. Also you can see how the development has settled, and if it has become a mess of fridges and sofas in gardens and cars parked everywhere, or if it has turned into a nice family friendly area.
If the estate is a complete disaster there are usually news stories about it. So have a search.
EDIT: oh and there is general cross party consensus to sort out the legal issues with freehold service charges, and it is possible any deed variations have already been done (something for your solicitor to confirm)1
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