5 things to consider when purchasing a new build property

 Whether buying your very first home or selling up and moving to pastures new, buying a new home is a stressful yet exciting time. If you have trawled the market and decided that a new build property is your preference, then there are some things that you need to be aware of in advance. Many of the processes are different from those when buying an older property, so it's a good idea to know what lies ahead. Here are five things to consider when purchasing a new build property. 

Picking your preferred plot 

You have found the perfect new-build development in the right location, so now it's just a case of picking the plot and house type that is right for you. The developer will usually supply you with a site layout showing the house styles that they intend to construct on each plot. The first thing you should do is pick the house type that is right for you. There will usually be a few variations of each house size, so spend a bit of time considering the best-suited layout for your lifestyle. Many prefer an open plan layout, while others would rather have their accommodation divided.

Once you have chosen your house type, you need to choose your preferred plot. The sales representative will advise you of the plots available for sale, and it's then basically just a case of picking the location you choose. A big consideration has to be the way the rear garden faces. If you want the sun throughout the day, then go for something south facing. A plot with a north-facing garden will usually be lower in price, which might be attractive to some, but if the sun is important to you, then don't compromise for the sake of a small monetary saving.

Another thing to consider when choosing your plot is the surrounding area. If you have small children, you may prefer it to be situated within a cul-de-sac rather than on the main thoroughfare. Consider these things before signing on the dotted line. You will likely live here for some time, so it's essential to get it right.

Buying off-plan

If you have bought and sold older properties before, you will be used to viewing the property and making sure you like it before buying. When buying a new build home, things will be different, as it is likely that the property will still be under construction. Buying off-plan can be a very daunting experience, so be prepared for it. Most new home builders will build several showhomes so customers can see a finished product, but they will only do this with a couple of the house types. 

Take your time to go through the plans and try to envisage how the property will look. Many builders have 3D computer-generated walkthroughs, making a huge difference and giving you peace of mind that you like what you are buying.

The sales executive should give you a copy of the specification for your new home, which will detail all the finishing's from the wall paint color to the style of internal doors that will be fitted. This, coupled with external finishing detail and CGI's of the external elevations, should give you a pretty good idea of the finished product. 

When can you move in?

Another difference when buying a new build is that (assuming your home still under construction), you won't be given a specific date for moving in. You will usually be given an approximate window, but you won't get anything more specific until the house is nearing completion, as delays are very common. This can be tricky to deal with, particularly if you have a property to sell. 

What many people do is sell and move into temporary accommodation until their new home is ready. Although it's not ideal, it's far less stressful than coordinating the sale of your own home with the purchase of a property that is not yet complete. The builder will give you a better indication of the entry date as the building works progress.  

Color choices and variations

Making your color selections is probably one of the most exciting parts of buying a new home. The choices on offer will vary from builder to builder, but you will usually be invited to select your preference of kitchen cabinets, countertops, and tiles. These will come in a range of colors and styles and gives you the chance to add some personal preference to your home.

Most builders will also allow you to pay for various upgrades to the standard specification. From extra sockets to flooring, you will be furnished with a list of variations to choose from. These will be dependent upon the property's build stage, so if you are considering making any changes, do so as soon as you can. 

Don't be frightened to negotiate

Although most builders will have a set price allocated to each property on their development, don't be frightened to negotiate. Depending on how popular the development is, there may be some leeway on the purchase price, so it's definitely worth asking the sales representative. 

Of course, it may be that the price is non-negotiable, and there is no room for maneuver; however, what many builders will do instead is to offer non-financial incentives as part of the deal. For example, many builders will include free flooring or a kitchen upgrade as part of the price. Buying a property can be expensive, so negotiating some incentives can certainly soften the blow a little.  

Once a deal is agreed, you will be asked to sign a reservation form and pay a reservation fee to secure the plot of your choice. This will trigger contracts being sent to your legal representative and start the ball rolling to make the sale binding. Once the legalities are finalized, you can sit back, relax, and wait for the keys to your new home.