It’s often assumed that when purchasing a new build property, there won’t be any issues to deal with for quite some time. While this is often the case, a new build home doesn’t automatically guarantee an assurance of quality, as there are instances where problems arise shortly are moving into the property.
After all, new build properties are built by people, meaning human error is always possible, while there are certain properties that were built with poor workmanship, meaning new builds aren’t free from risks.
Give yourself peace of mind by taking the following precautions when buying new a new build property:
Research developers
One of the biggest risks facing a new build property is unreliable developers. Not all developers are honest and reliable, with some putting profits first and foremost, so always take the time to research the developer behind any new build schemes.
The internet is a great resource for finding out about a developer and the overall quality of their work, with forums, review sites, and social media being a good place to start your research. Also, you could speak with people that have already moved into a new build in the neighbourhood to gauge the quality of the developer and their property.
Invest in a snagging survey
A snagging survey is one of the most effective precautions to take when buying a new build property. While it costs a few hundred pounds, the investment is well worth making as it identifies any issues around the property are completion.
Should any type of problem be found, it is the responsibility of the developer to fix, whether there are just a few issues or several throughout the property. Almost every type of problem is covered, from minor damage and imperfections to major issues with heating, electrics, water systems etc.
It is possible to complete your own snagging survey, but it is always a better option to hire a specialist firm that know exactly what problems to look for. Yes, it will cost you some money, but when you consider the amount paid towards buying the property it is an investment well worth making.
Is there a warranty scheme in place?
Asking about a warranty scheme is one of the simplest precautions to make when buying new build property. This ensures that the buyer has protection when paying the deposit for a new build home still under construction, which is often done to secure the property but isn’t free from risks.
The main issue is that a developer could go out of business before completing the build, meaning you lose your deposit entirely, so a warranty scheme offers complete protection against such as risk. Warranty schemes also cover you should the property not be built to a suitable standard.
Ask whether the new build is part of a warranty scheme to give you the upmost protection from a development, with warranty schemes such as the NHBC’s Buildmark and the LABC Warranty being reputable schemes.
