Buying your first home can be stressful. You have so much to think about, from entry dates to moving costs, mortgage applications and legal fees, it can be rather overwhelming. This is something that many housebuilders know all too well and so now have a number of different perks that come with purchasing a new build property. So what are some of the perks that you can expect from your housebuilder?
Your housebuilder will guide you through the process
Many housebuilders now offer first-time buyers lots of support when going through the conveyancing process. The minute you step foot in the show home, the sales team is on hand to help you pick out what kind of house you like, how many bedrooms you want, the size of your garden, the colour of your carpets, your preferred brand of washing machine, the size of your driveway, and much more. Of course the level of customisation with your dream home might differ so be sure to do your homework! Once you’ve made the decision to purchase your new home most housebuilders will then help you through the legal process, recommending law firms and mortgage advisors to help with legal and financial arrangements.
What about funding?
Many housebuilders now offer Help to Buy schemes which are tailor-made for first-time buyers. In a nutshell, the Help to Buy Scheme means that the government will provide a significant chunk of funding for your new build home. As this is completed through the housebuilder the process is significantly streamlined and in fact is no more complex than a regular mortgage process, albeit with a lot more funding being on offer.
Just a little snag
The day has now arrived. You have collected your keys from the show home and you’ve moved into your new home, with perhaps your moving costs paid for by your housebuilder as well. It’s all going well until you notice some paintwork that hasn’t been finished off properly or a leaky tap. What do you do? Matters such as leaks in bathrooms, electrical faults with your new kitchen appliances, chipped paint on your new walls are all covered under the heading of “snagging” which forms part of your contract with the housebuilder. In practice, this means that if you have an issue with your newly built home, there will be a period of time within which you can contact the housebuilder and they will send out the relevant team to carry out the repairs and have your home fixed up, at no cost to you.
This is in stark contrast to the process if you purchase a second-hand house from an individual. The condition of such a house can be extremely variable, and in the event that there are any problems, you have only 5 days to let your lawyer know, and you may still have to pay for repairs. Many housebuilders will carry out repairs to your new home that fall under the “snagging” heading for up to 2 years after you bought it, and this is a major factor in a new build property’s favour.
If you are a first time buyer, or you know someone who is purchasing their first property, do your research and find out what housebuilders can do for you.
On May 17, 2019