New build or not a new build, that is the question foremost in the minds of many buyers. Do you choose a pre-loved home or one that’s fresh out of the box? There’s been some bad press surrounding new build home purchases recently, but that doesn’t mean this option isn’t right for you. New builds are generally more energy-efficient to run and you won’t spend much on maintenance. You can also put your own personal stamp on a property that hasn’t been lived in before.
If you are considering new build houses to buy in Essex, here’s what you should focus on to help make the best decision possible.
1. Choose the Right Developer
First, look for new home developments in the areas you want to live in. Next, research the developers behind these projects by looking at customer satisfaction surveys and reading reviews. You’ll notice that while many of the household names get good reviews, a few are not so well received.
2. Time Your Purchase Well
You may be able to secure a better deal if you buy towards the end of the financial year or the end of the half-year. Also, look at buying when the development has just started or is nearly completed. It is worth looking into this if you are flexible on when you can buy a property. You could get more for your money. But keep in mind that buying early in the completion stage could mean you are stuck with nearby building work for years.
3. Compare Prices
Look at the cost of buying a new build alongside the equivalent pre-owned property. You will probably pay more initially for a new build. But your new property will go up in value more quickly when you are buying in a development with other new builds coming onto the market.
4. Be Realistic About Space
Many new build homes are small in comparison to older properties but they look bigger when shown with minimal furniture, or with the furniture cleverly placed to give the illusion of space. Try making a paper plan of the room and place your furniture into the space to give an idea of what will fit.
5. Decide Whether to Buy Off-Plan
You may spot a good discount for buying off-plan when other buyers haven’t been able to look around a show home. You will also get a better choice in terms of plot and can choose your own fittings. But you will be taking a risk; you don’t exactly know how well the building will be constructed and you won’t be able to get a proper feel for the property. You may also be living with building work for a considerable amount of time.
6. Do Your Research
Always read the small print or hire a good lawyer to do it for you. Find your own solicitor and don’t just use the developer’s to save time. Choose someone with experience in new build properties. And make sure that the developer complies with all building regulations and provides a warranty.