A new home for a new year – buying a new build home
New build homes are a great option for anyone looking for a new property to buy this year, especially with all the government schemes actively promoting them with attractive loan schemes.
We are experienced in dealing with all aspects of new build properties in Southampton and the surrounding area, from a land selling service, to helping potential buyers, to providing comprehensive new build marketing for developers. No matter your new build requirements, we are on hand to offer our expert advice and services, on 01489 584298.
New build homes are an appealing choice for potential buyers for many reasons:
• You’ll be the first to live there
• As everything is brand new, repair/maintenance costs should be minimal for the first few years
• New build homes usually come with a 10-year warranty issued by the NHBC
• New build homes will be built to current energy standards, so you can enjoy lower running costs
New build homes are becoming particularly attractive due to the government schemes available that promote them. Through the Help To Buy scheme, the government will lend you up to 20% of the cost of your new build home, as long as it costs £600,000 or below. This means that you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest, and you won’t be charged loan fees for the first five years of ownership. Another scheme, the Starter Home Scheme, will make 200,000 new build home properties available for first time buyers under 40 to purchase with at least 20% off the market price, as long as the property is under £250,000 (£450,000 in London).
However, new build homes can have their own set of difficulties, so it’s important to do your research into the developers, their other work, and what other people or residents have to say about them and their properties. We associate with only respected builders and developers, so you can rest assured that any new-build homes advertised through us are of exceptional standards.
Mortgage offers are typically valid for up to six months, so if the property is not due for completion within this time, some lenders may consider an extension on their offer but usually even this would require a reassessment. We can help guide you through the mortgage process, so don’t hesitate to contact our team for expert advice on acquiring a mortgage for the new-build home of your dreams.