Moving up the property ladder is always exciting, but that excitement is doubled when you’re bidding on a new build. With no previous owners, you have the chance to start from scratch, really putting your stamp on the place.
Buying a brand new home isn’t quite the same as buying an old one. Here, we look over nine things you absolutely have to know before you take the plunge.
1. Know the area
Location is one of the most important elements of a property, so it’s important that you know the area well. Scout out the schools and social spaces, as well as doing your research on similar properties nearby.
2. Know the development
If the house you’re buying is part of a development, you’re in a strong position as a home buyer. You should be able to get an idea of what similar properties are selling for, and how the buying process pans out for your new neighbours.
3. Know what’s included
New builds are often kitted out with everything from furniture to decorations, particularly when they’re being used as show homes. Before putting in an offer, it’s absolutely essential that you find out which items are included. If it’s your first home, those white goods could definitely come in handy.
4. Know what decisions are yours
Often when a company builds a house, they’ll market it before its completion. If you show interest in a property before it’s finished, you could have the chance to make some major decisions when it comes to things like bathrooms and kitchens.
5. Know that you have the upper hand on your sale
Looking at homes for sale which aren’t yet complete gives you some power when it comes to selling your existing home. With plenty of time, buyers will know that you aren’t under pressure to make a deal. This will prevent them making low offers and could help you secure a better deal.
6. Know about incentives
Sometimes when developers build a house they’ll look to offer certain incentives to buyers. These could be particularly attractive if you’re looking to buy your first home. Common examples include offering to cover a deposit on a mortgage, or covering the stamp duty.
7. Know what style you want
A new home may be a blank canvas, but that’s not to say that its style isn’t important. Be sure to match the architectural style with the interior design that you have in mind.
8. Know the schedule
House building can take several months, which means there could be some leeway on your move-in date. As the home buyer, you should speak to the builders regularly to get an accurate idea of the schedule. This will make life easier for you selling your home.
9. Know the exact dimensions
One of the most exciting parts of being a home buyer is planning furnishings, particularly if it’s your first home. The key here is to know the precise dimensions of your rooms – and don’t forget the doorways either!
Engel & Völkers has an intimate knowledge of property markets around the world. Whether you want to build a house or purchase one, be sure to speak to our experienced team to work out what’s best for you.