4 Considerations When Buying a New Build Home
According to some reports, 99% of new home owners reported problems including snags or defects in their new home, and of these, 69% experienced five or more problems.
Over the years, surveys we have conducted on newly built properties have uncovered everything from a few simple ‘snagging’ issues right through to lack of structural integrity and poorly constructed roofs.
Here we look at 4 considerations when buying a new build.
- Many people may assume that buying a new-build means they’re buying something finished to a high standard that won’t need any work doing to it. Indeed, this is often a large part of the appeal of new build properties over older homes. Whilst major renovations should be unlikely, a perfect finish is rarely to be found, which can be very disappointing when you move in. Having a surveyor undertake a snagging survey can identify problems – from the minor to the major.
This then provides the developer the opportunity to rectify the issues prior to you moving in, giving the best chance that you’ll be happy with how you find the property on moving day.
- Some buyers of new build homes may think that they can fall back on the NHBC warranty that comes with all new builds. However, in reality, it can prove difficult and stressful to actually make a claim via this route, and after a period of two years, the cover provided is very limited. Any issues that are identified after you have moved in will require tradespeople coming into the house to undertake repairs. Where more serious problems are afoot, this can cause mess and disruption.
The main benefit of electing to have a survey on a new build home is that any issues that are identified can be resolved before you move in, saving time, mess and hassle in the long run.
- Whilst a freshly decorated home can be a clean, blank canvass to move into, it can easily mask potential issues to the untrained eye. A good survey can spot issues that may not be immediately obvious but may become problems down the line. Identifying these at an early stage gives you more options – either to renegotiate with the developer on price or see that work to resolve them is undertaken before completion.
- If you are accessing the government’s Help to Buy scheme to buy a new build home, you will need to appoint a RICS Registered Valuer to provide a valuation report before the loan can go through. It is also worth bearing in mind that you will need a similar valuation report if you choose to repay any portion of the Help to Buy loan along the way or at the point of moving house.
If you are having a valuation report undertaken by us, please ask about adding on a snagging report or survey report.
Matthew Parkinson Surveyors is able to provide a range of property reports suitable to new build homes in Lancaster and the surrounding areas. To discuss having a Snagging Report, Home Survey Report or Valuation Report undertaken by one of our Chartered Surveyors or RICS Registered Valuers, please get in touch.BACK TO NEWS