26 Time for Living, March 2011 Property


Taking on anew build B


picking up something fresh out of the wrapper can open awhole new can of worms. Hereare the things you must consider:


uying abrand new home may seem the easy option but in fact


■ DON'T PAY MORE –Afew years ago when the housing market was at its peak you might have spent up to an additional 20 per cent for a new home. These days how- ever estate agents value new builds and resells equally.So don't pay over the odds whereyou don't have to.


■ DON'T BE SWAYED BY AN OFFER YOU CAN'T REFUSE –Stamp duty paid, home exchanges, no deposit, mortgage guaranteed. There aredeals galoreout there designed to tempt you in to overlookingthe negatives. If the home you'relooking at is so great the builder shouldn't need to offer an incentive. Don't compromise on the promise of getting something for nothing.


flat which is not yet finished and you may be able to specify everything from kitchens to carpets.


■ CHECK FOR WARRANTIES –You wouldn't buy anew television without some kind of quality guaran- tee so don't be tricked in to taking ahome without awar- ranty.The names to look out for areNHBC, Zurich Municipal or Premier although none of these guarantee that your home will be free of defects they do offer acome- back when something goes wrong.


■ FIND OUT ABOUT YOUR NEIGHBOURS –Left with a glut of new flats they can't sell, developers arenow sell- ing on to shared ownership schemes and councils. Their blocks may boast


gyms and design features galorebut do your research into even the most luxurious


block -you may find yourself on aburgeoning council estate.


■ BUY OFF PLAN –Ifyou get in early enough buying off plan can allow you to create your perfect bespoke pad. So arrange to view plots before building begins or choose the


■ BE SURE OF FUTURE PLANS –Check with your builders and the planning department of the local coun- cil for plans for the area sur- rounding your new home. Will that amazing view be replaced by abrick wall by next year or will you find yourself with very close by neighbours? Equally it is important to


find out how long works on estates and new blocks will


take -doyou want to live on abuilding site for the foresee- able future?


■ REMEMBER TO SNAG – Having asnagging list com- piled by the same company which is building the property you'rebuying could be con- sidered foolhardy.Either spend an afternoon preparing the list yourself or even con- sider paying an independent company to do so -and ensurethat your builders agree to fix everything before completion.


■ HIRE YOUR OWN SOLICITOR –Property devel- opers often recommend a solicitor who will 'speed things up' for you. But be surethat you use someone who comes independently recommended and, prefer- ably,has experience of new builds and the process of buying them. It may seem simple but the additional warranties, insur- ances and issues surrounding fixing snags can require expert knowledge.


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