If you are thinking about buying a new build, there are many factors you need to take into account.
After all, the process is slightly different. You cannot view the property in all of its glory. You are going to be purchasing based on the plans you have been provided with. This means that a lot of your purchase is going to be made based on the quality of the developer. With that being said, read on to discover some things you need to know when buying a new build property, be it for business offices or a new home.
You still need to get a professional inspection – A lot of people assume that a professional and independent inspection is not required when it comes to new construction homes. However, this is most certainly not the case. Many new builds have problems with them, and if you do not have a professional survey, you could be left with the cost and hassle associated with these issues. A professional inspection is a necessity to ensure any snags and defects are picked up on and can be dealt with straight away, preferably before you legally complete.
It’s unlikely that your property will be built on time – Delays are the norm when it comes to new builds. This is because there are many different factors that can put a property behind schedule, from a lack of supplies to weather issues. So, don’t expect to move into your new home or business premises on the date you were initially provided with to avoid disappointment.
The track record of the developer is everything – The quality of your property is going to come down to the developer. The importance of choosing a developer with care, therefore, simply cannot be ignored. You need to do a significant amount of research to make sure that the developer has many years of experience, and that they have a good track record. Read reviews that have been left by those who have purchased a property from the developer before. This will give you a good indication regarding what to expect.
You can and should negotiate – A lot of people assume that new build prices aren’t up for negotiation, but that could not be further from the truth. You can usually negotiate yourself a better deal, but make sure you are armed with all of the information needed to drive a lower price. For example, you will need to find out about the prices of properties that are similar in size and based in the local area.
As you can see, there is a lot that needs to be taken into account when purchasing a new build. However, if you can carefully consider all of the aspects that have been mentioned above, you can make sure that the process goes as smoothly as possible. This will increase the chances of you ending up with a home or business that is exactly how you envisioned it.