Buying a new build is a minefield of mortgage meetings; help to buy schemes; vague marketing brochures, and fast approaching completion deadlines. Buying a new build anywhere is stressful, never mind buying in London, where the cost of a new build in central is a stomach churning £3,413, 342. After finally bagging a new house how can you ensure your new home is the quality you were promised?
Here are some tips to make buying a new property in London a little bit easier.
You need to begin the process of taking out a mortgage BEFORE you start hunting for your new build. This is essential. It lets you know how much you can borrow, so you’re not wasting time on flats or houses you wouldn’t be able to afford the monthly repayments for. How much you can borrow is based of how much of a deposit you’ve been working so hard to save.
Look at help to buy schemes
If you’ve not been able to scrape together quite enough for the extortionate deposit needed for a new build in London, the government has a wealth of help to buy schemes on offer. The government will top up your savings by 25 per cent (up to £3,000). If there are two of you buying, the other person can apply too.
Find your dream home.
Seems obvious. But according to New Homes Review, 41% of new build homeowners are dissatisfied with the condition of their property. So doing your research is necessary to make sure you’re getting the new build of your dreams.
The survey also reported that 93% of owners experience snags or defects in their new home. A lot of new homebuyers feel that improvements need to be made through house snagging, along with better communication after completion from their builders.
How can you avoid this?
Hire a professional snagging company.
Snagging is a huge problem in new build properties, and is perhaps the most important thing to look out for. Hire a professional snagging company, like HouseScan, to assess whether your new build has any defects that should be put to your developer.
HouseScan offer the UK’s most comprehensive inspection and report and cover houses and apartments across the UK.
To download a sample report visit www.housescan.co.uk or to find out more about our house snagging inspections, contact HouseScan by calling 01163184004 or email us at firstname.lastname@example.org.