19/11/2024
Buying a new-build house is an exciting time, with the chance to explore what options are available. In order to find the right property for you, it’s important to ask the right questions throughout the process, ensuring you feel confident and assured in your final decision. Read on to discover the 12 must-ask questions for any prospective buyer.
When was the property built or planned for completion?
Asking when a property was built or planned for completion gives you an idea of the age and condition of a property, helping you to assess its condition and identify any potential maintenance needs. “Older” new-build properties are more likely to require higher levels of maintenance, such as structural repairs or heating and electrical system updates. Knowing when the property was built can also tell you more about the design of a property and the materials used, allowing you to plan how you may want to update the interior, either adding period features to a newer build or modernising the design of an older property. For new-builds, knowing the completion date can help you keep track of the property’s development, making you aware of any changes to the timeline or issues that may change the completion date.
What are the fees associated with buying a new build house?
Buying a new house has a number of fees associated with securing the property. Understanding these fees can help you to weigh up your options and ensure that you have the time and financial means to pursue the property you’re interested in. Some of the most important fee questions to consider include:
What are the reservation fees?
New-build properties have a reservation fee, which is used to secure the property and take it off the market until the buying process is completed. The amount can vary depending on the developer but generally ranges from a few hundred to a couple thousand pounds. Reservation fees are non-refundable, so you’ll want to ensure that you’re in the position to continue the buying process. You can speak to the property development of property managers in charge of the sale of the property to gain more insights into the buying process.
Does the property have maintenance fees?
Knowing the maintenance fees when buying a new-build property can help you to budget more effectively. Maintenance fees cover the cost and upkeep of any shared amenities that you have access to, such as gyms or lobbies, and understanding them can help you to assess the overall affordability of a property. High fees might indicate more extensive facilities but can strain your finances. Knowing the fees can make sure you’re prepared for future expenses, allowing for better long-term financial planning and avoiding unexpected costs.
How many houses have been sold in the same development?
Knowing how many houses have been sold in a new-build development can give you an insight into how desirable the area is. If lots of houses in the development are getting sold, it could confirm that the area you’re looking to buy in is desirable. This could be because it is near to certain facilities, such as good local schools, shopping centres and plenty of outdoor space. This is important not only if you’re planning on moving into a new-build house, but also if you are a reseller, as it will give you an idea of a property’s potential value as an investment. The number of houses sold in a particular development can also give you a clearer picture of how the development is progressing, allowing you to gauge how soon the development’s amenities will be available for you to enjoy.
Can the deed of conveyance and property plans be shown?
Understanding whether the deed of conveyance and property plans is important, as these plans can help you to understand a property’s restrictions and boundaries. The deed outlines the legal ownership of the property, and any and any restrictions or obligations tied to it. This includes details on the property boundaries and layout and their corresponding regulations, helping you to avoid disputes with neighbours as a result of misunderstandings about property limits. Having access to the deed of conveyance and the property plans will also provide you with the property’s legal history, which can help you make more informed decisions during the buying process. This transparency means you can move forward with your purchase with confidence.
Are there any discounts available when purchasing?
Discounts may be available when buying a new-build house, though they are not guaranteed. Some builders and developers can use discounts to incentivise buyers- these can include reduced prices or upgrades to properties. You’ll want to compare what’s on offer to you, taking the time to understand each property’s terms to ensure you’re getting the best value for your investment. You can negotiate with developers which could lead to potential discounts. Property managers, such as Michael Anthony, can provide support for these negotiations.
Can I choose the bathroom and kitchen furnishing?
Most developers will allow buyers to choose bathroom and kitchen furnishings when purchasing a new-build house. It’s easier for developers to incorporate your design choices during the early stages of a build, so it’s important to ask about customisation options early in the process. The extent of customisation, however, can vary from developer to developer. Some builders may cater to a wide variety of styles and finishes, whilst others may only offer predetermined packages. If you’re looking to make your own decisions around bathroom and kitchen furnishings, it’s important that you know the styles you want. If you’re unsure about what styles are on trend and available, you may be able to visit It’s show homes to give you a better idea of what you want.
When will the access roads be ready to use?
Knowing when access roads will be ready can give you a better idea of when you’ll be able to move without interrupting your routine. Not only will this help you to coordinate moving vans that will need to reach the property, but you’ll also know when you can use the roads to access local amenities. Having clear information about access roads can help you avoid unexpected disruptions and ensure a smoother transition to your new home. With this knowledge, you’ll be able to coordinate your move so that it’s not difficult to get to and from work or school.
What is the council tax band?
Being informed about the council tax band of the house you want to buy is crucial for several reasons. The council tax band will directly impact your monthly expenses, as council tax rates vary significantly from band to band. Understanding this cost can help you to budget accurately and avoid financial surprises after you’ve purchased a property. Council tax bands can also influence property values, with homes in lower bands likely being more affordable, while those in higher bands could have higher property values. If you’re planning on developing and re-selling the property, knowing the council tax band can also help you predict the potential resale value, as it could indicate how desirable the area is. Whatever your plans for the property moving forward, this knowledge is vital to making informed decisions throughout the buying process.
Are there any land covenants on the new build development?
Land covenants are legal agreements or restrictions placed on a property (and the development it is part of) that determine how the land can be used or developed. These legal restrictions can affect how you use or modify your home, impacting your plans for landscaping, extensions, or even the type of vehicles you can park. Being aware of the land covenants can allow you to ensure that the property you’re interested in aligns with your long-term goals. This knowledge can also help you avoid future legal disputes caused by breaching the land covenants of the development. It is important to know that land covenants can also influence property value, which can impact a house’s resale potential. Certain restrictions may encourage or deter future buyers from purchasing as part of the development.
How long is the new home warranty in place?
Understanding what the new home warranty covers ensures you know your rights and responsibilities as a homeowner. A new home warranty typically covers the cost of structural defects, workmanship issues and major system failures for a certain period of time after a property has been purchased. The warranty is designed to provide some peace of mind for prospective buyers, ensuring that any hidden issues that present themselves during this window can be addressed by the developers. By being aware of how long the warranty is in place, you’ll know how quickly you need to report issues and can plan for future maintenance expenses. New home warranties can also be a good indication of the quality of the development the property is part of. For example, if the house you’re interested in has a longer warranty, it could indicate a builder’s confidence in their work and can enhance the property’s resale value. This information can help you to be confident when purchasing a property, either as a new home or as an investment.
Are there any help-to-buy schemes available?
Help-to-buy schemes (otherwise known as affordable home ownership schemes) can significantly ease the financial burden of purchasing a home, so it’s important to know which schemes are available to you. Understanding the availability of these schemes and their eligibility criteria could help you to secure your dream property. By giving you access to financial assistance, loans or shared ownership options, help-to-buy schemes could support you in purchasing a property that you otherwise might not be able to afford.
Help-to-buy schemes can vary depending on the location of the development, so understanding how these schemes work could help you to make a decision about what type of property you want to purchase, and in what area. You can read about government help to buy schemes online or speak to your estate agent to find out if the development you’re interested in is eligible for particular schemes.
With these questions in mind, you’ll be able to make the decision to purchase a new-build house with confidence, knowing that you have all the information you need to enjoy your new home without worry. If you’re on the hunt for a new-build property, Michael Anthony can help you find the perfect fit for you in Aylesbury and Leighton Buzzard. Contact us today to chat with a friendly member of our team, who will be able to help you kick-start your journey and answer any questions.