After the trials and tribulations and, in some people’s cases, downright disruption, as a result of the worldwide coronavirus pandemic, the majority of people across the length and breadth of the country and beyond spent an inordinate and unprecedented amount of time in their own homes.
As a result, there has certainly been a shift in the general public’s conscience in terms of wanting to ‘stay put’ in their current home, and there has been an exponential rise in the number of people who want to move home and invest in a newly built property.
With this in mind, continue reading for a comprehensive guide to buying a new build home.
Discover the Numerous Benefits
Before you start searching for the perfect new-build property for you, you should familiarize yourself with the myriad of benefits of choosing to purchase a brand-new home, with such advantages including, but not limited to, the following:
- The opportunity to select and choose certain fixtures and fittings to ensure the interior of the property is to your exact design preferences and tastes
- New-build properties always come with a guarantee
- Usually, you will have lower energy bills and running costs compared to an older property
- Redecorations and repairs will cost minimal amounts for the first year or so
A Real Estate Agent is Essential
There is no feasible way, or indeed the reason, to continue with the process of purchasing a new construction property without professional guidance and assistance from a real estate agent.
When it comes to negotiating with the builders of the construction company responsible for building your new property, a real estate agent who has many years of experience dealing with new build homes will be able to help you with the financial details of the purchase and also sort of other contractual problems which may well arise.
Be Aware of the Timeline
For people who are buying an older home and are part of a chain of people who are looking to buy and sell their current home, there is more, although not an entire, guarantee that the dates you are given will be more accurate,
However, in the event of a new-build property, especially if you have ordered various customizations and upgrades within both the interior and exterior of the building, you should be prepared that the estimated timeline for completion you are initially given could be less than reliable.
When dealing either directly with the builders in the initial stages of buying your new constriction property or else further down the proverbial line when you are ready to apply for your mortgage, you must not neglect one of the fundamental steps, which is to secure pre-approval from, ideally, more than one lender.
Pre-approval for a mortgage depends on a wide variety of factors, including the annual income of both yourself and your partner, your employment status and recent employment history, any assets you may or may not have, and any debts you have.