House hunting is such an exciting time. Being able to view different types of properties helps to narrow down exactly what you are looking for. New build homes are a great option for first-time buyers and experienced property owners alike.
Buying a new build can be a bit of a daunting prospect, though, as it is such a big investment often without a finished product. Here are some questions you should consider asking to be able to make an informed decision.
Questions about the property
When it comes to viewing the property, there may not be much to see initially so be sure you are clear on whether you can view the construction site or a model home. Once you have established this, you can ask about customization and floor plans to help you visualize your new home.
One of the most obvious questions to ask is about the expected completion date. You need to be aware of any potential delays or issues moving, especially if you are relying on the completion date lining up with a rental contract ending.
Finally, be sure to get clarity on any warranties or guarantees that are provided. This may help you decide between buying or not once you consider your overall finances. It also can’t hurt to ask about any discounts or offers that the developers are willing to provide.
Investigate the builder
Developers and builders often have a huge wealth of information online, so it is easy to do your research before committing to buying.
Check out their history for previous developments and projects as well as reviews. You may even be able to take a drive around a completed development to get a feel for your area once it has been finished.
Reviews are a great insight into the post-building care that the company provides. You may be able to find testimonials from customers who have had issues resolved or queries dealt with quickly and efficiently. This should help you to feel confident in your decision to buy.
Financial and legal queries
Finances are a huge influencing factor on whether you want to buy a house or not. Ask what financing options are available to you including your mortgage. Some developers may offer to cover your legal fees or help with your initial deposit for buying directly from them. This can end up saving you a lot of money.
You should also ask for a copy of the builder’s refunds or cancellations policy. If something goes wrong, you need to be clear on your rights and responsibilities.
Construction and energy efficiency
Purchasing a new home, especially a new build, comes with the expectation that it is the best you can afford and will last you a long time. Asking about the energy efficiency of the property will give you an idea of the cost of bills and any potential issues that may arise.
New builds often have a chance for customization and upgrades for a cost. If something is missing or a feature you aren’t quite on board with, ask if you can change it before it is built. Most developers are happy to accommodate this within reason if you are buying off the plan.