Buying a new build home is exciting, but you shouldn’t rush into the process. There is a lot of information relating to your home, and buyers need to ask questions of their developer. When you have more information, you can make an informed decision as to what home is right for you.
At Residential London, we are pleased to say we have helped many buyers find their ideal new build home. These are some of the leading questions prospective buyers should ask before committing to buying a home.
How long will the building work take?
One of the most obvious questions a prospective buyer of a new-build property should ask is how long will the building process take. Every buyer wants to enter their new home as quickly as possible. However, there are other factors to consider when buying a home that is yet to be completed.
If you are renting before you move into your new home, you need to have a rough idea of how long you expect to rent. This allows you to draw up a budget, and you can formalise plans with a landlord. Alternatively, if you have your own home and you are selling this, you want to have a guideline on when you need to conclude and move out by.
The buyer should try to factor in some flexibility with respect to the building work. Things can go wrong, and in the current climate, there are additional barriers to overcome. However, with a timeline in place, the process seems real, and allows buyers to move forward.
What warranties are offered for the home?
While new build homes are great for people who wish to lower maintenance work and costs, things can go wrong with a new-build home. Therefore, buyers are looking for a warranty with their home, and this is another commonly asked question.
It is possible for buyers to purchase their own warranty, but given the cost and commitment of buying a home, many expect the builder to provide this service. You should expect the builder to provide coverage for at least the first few years, and it is not uncommon for warranties to cover 10 years.
What is the standard finish of the property?
If you have a very attractive base cost for the property, you might want to prepare yourself for a much higher bill when all the finishing touches are added. Flooring and countertops are often extras for buyers, and if you want top of the range features, you should expect to pay more money.
Therefore, buyers need to find out what the likely final cost of their home will be, and what they will get for their money. If you have your heart set on the most stylish finishing touches, be prepared to pay more for this service.
Can the buyer buy their own appliances and materials?
There is often a lot of flexibility with new build homes, but this isn’t always the case. If you intend on bringing in your own kitchen appliances, or you have your heart set on materials the builder doesn’t offer, find out if this is possible.
If you have any questions or queries about the housing market, it is best to call on experts for support. We are still available to help you, while following social distancing guidelines, so feel free to contact us if you need to. We can arrange a free valuation for you, and if is this of interest, please contact Residential London today.
We have a team of qualified professional property consultants specialising in real estate across the capital. We are active in Westminster, The City of London, Kensington & Chelsea, Hammersmith & Fulham, Wandsworth, Lambeth, Islington, Southwark, Tower Hamlets, Greenwich, Newham, Hackney and many more London locations.
You can call us on +44 (0)20 3733 3817 or email us on email@example.com