Demand for new builds is on the up due to more people seeking energy efficient homes, but research1 has revealed other factors people wish they had considered before purchasing a new build.
Top of the list (36%) is researching the property manager as well as the developer, closely followed (35%) by checking out the parking arrangements, including the on-street parking situation.
A common problem on developments can be drainage; 19% of respondents recommended checking this out. Other top tips include booking in a snagging survey early on (18%) and visiting the property at different times of day (15%) to check noise, lighting and mobile reception. Ten percent of respondents wished they had checked the terms and conditions more carefully, while 9% wish they had communicated proactively with the developer and ensured they had everything in writing.
Paula Higgins, CEO, HomeOwners Alliance, commented, “Don’t assume anything when you’re buying a new home. There’s a lot more to research than you think. And with a new build in particular, you need to look beyond the glossy marketing brochure.“
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.