Buying your first home is always daunting, but a lot of those issues of home ownership can actually be circumnavigated by opting for a new build. After all, you won’t have to deal with decades worth of damage, won’t have to contend with outdated designs, and can also benefit from better insulation that you just can’t get with some older properties.
That being said, buying a new home isn’t foolproof. To make sure you get the best property, in the best condition, and for the best price, use this guide.
What’s the Area Like?
When buying a new home, it’s important to consider the location and what the area is like. Research the local amenities such as schools, shops, and transportation links. If you have a family, consider the proximity to parks and playgrounds.
Also, look into the safety and security of the area. Check local crime statistics and speak to locals to get a better understanding of the area. You can change everything about your house, but you cannot change where it’s located, so deep dive into the area before committing.
Are There Any Help to Buy Schemes?
Help to Buy schemes are available in many countries and can be a great option for first-time buyers. They offer financial assistance to help make buying a new home more affordable. They’re usually available to first-time buyers but don’t give up if this is your second home. You might be able to get financial help when buying quality homes in Lincolnshire, for example, by using the first home, easy mover scheme, own new scheme, part exchange scheme, and the buying to let scheme.
For example, if you live in the UK, research what Help to Buy schemes are available in your area, and see if you’re eligible to apply. Many schemes offer assistance with the deposit or provide an equity loan to help reduce the amount of money you need to borrow. The same might be applicable in many other countries, too – search to see if such schemes are available in places like the US and Canada.
Does Your New Build Come with NHBC Warranty?
If you’re buying a new build, it’s important to check if it comes with a warranty. For instance, in the UK as an example, a National House Building Council (NHBC) warranty is advised – there’s likely similar in the United States and other countries as well. The warranty in your area may be different, though,so look it up before you start the buying process to better protect your investment. The NHBC warranty, for example, exists to cover any defects or problems that you experience in the first ten years of owning your home. If there is an issue, you can typically get the builders to come back and fix it.
Having an NHBC warranty (or similar in your own country) can provide peace of mind and help protect your investment. A good length for such a warranty is ten years, but always check the fine print. If the company absolves, for example, is there a system in place to continue your coverage? Ask these questions upfront to help protect yourself and your investment.
Can You Customize Your New Build to Suit You?
One of the advantages of buying a new build is the ability to customize it to suit your needs and tastes. While you won’t be able to get a fully custom home, you should be able to decide things like color, what tiles you use, and so on. Being able to customize such things from the start can help you save a lot of money you would have otherwise spent doing the place up yourself.
