Top Tips for Buying a New Build Home15 June 2018
There are many benefits to be gained from buying a new build home. From minimum property maintenance to designs you can personalise, there are various reasons why house hunters choose to purchase a new build property. Jane Pearce, Sales and Marketing Director at Devonshire Homes, reveals her top tips for buying a new build home:
Consider using the Help to Buy scheme
Purchasing a new build home can be exciting but daunting. We often witness house seekers stepping into our Marketing Suites saying that the homes look lovely, but they aren’t sure whether or not they can afford it. If you are struggling to save for a deposit, consider using the Help to Buy scheme. Available to both first time buyers and existing home owners, this government scheme allows you to put down a 5% deposit. The government will then contribute with a 20% equity loan and you will secure a mortgage for the remaining 75%. The scheme has helped many of our buyers step onto or up the property ladder, and is one of the most popular tips for buying a new build home.
Leasehold or Freehold
Before you jump into buying a new home, it’s important to find out whether the property is leasehold or freehold. If your new home is a freehold, you will own the property outright including the land it is built on. If a property is leasehold, you will only own the property and its land for the length of the lease agreement with the freeholder. You will need to consider whether owning a leasehold will impose restrictions on you so it’s important to know from the start.
View the show homes
Viewing show homes is one of the greatest tips for buying a new build home, and I always urge house hunters to come and visit the show homes right at the beginning of their journey. This way, they can gain a feel for the quality of our homes and visualise themselves living there. You’ll gain a real insight into the layout of the home, how big the rooms are and what kitchen / flooring / tile options are available. If you have taken a fancy to a particular house type but it’s not available to view on your chosen site, make sure to ask our Sales Executives if the house type is available to view at another development.
Consider using Devonshire Move
If you’re a homeowner looking to move, consider using our Devonshire Move scheme. This tip for buying a new build home is unique to Devonshire Homes, and is designed to help sell your existing property and secure a new home on a Devonshire Homes development. Under the scheme, which is available across all of our developments, your preferred plot is taken off the market for an agreed period of time whilst a buyer is found for your existing home. To ensure the process is stress free, Devonshire Homes will pay the estate agent fees at an agreed level. The scheme is applicable to the purchaser’s main residence and on homes up to the value of approximately £300,000.