Buying a New House
Benefits of buying a new house include:
- There is no onward chain, significantly speeding up the buying process.
- Some builders offer a part exchange scheme, allowing you to move home even in a difficult market and saving on solicitors fees and estate agents costs.
- A 10-year warranty from the National House Building Council.
- Minimal maintenance
- Energy efficiency. New homes are over four times more energy-efficient than older homes and therefore ‘greener' and cheaper to live in, with lower heating bills.
- Kitchens and bathrooms are already fitted, which can save thousands of pounds. Sometimes even electrical and white goods are already supplied.
- If you buy before the property is completed, you may be able to specify finishes and layout in some of the rooms.
- Carpets and curtains are sometimes included in the price.
- You get a blank canvas and can impose your own taste from the outset.
When you buy a new house there will almost certainly be some defects. When the keys are handed over make sure that all the defects you have spotted are reported in writing at the time (this is called snagging). We had a particular problem with scratched windows. Caused by bad workmanship during rendering a property, the double glazed windows were all scratched where rendering had been cleaned off. As these were only visible in sunlight we missed them during the initial inspection. Although the fault was finally rectified it took over 2 years and a lot of persistence to get this done. You have been warned!