Why should I buy a new house rather than an older property?

 

Whether you buy new or old is usually down to personal preference. There is no doubt however that buying a new house, just like buying a new car, comes with extra special thrill as you are the first person to get it! In addition, all the kitchens and bathrooms are brand new, you don’t have to do any work to it and the maintenance in a new house is minimal.

 

Does new build property not lack character?

 

Quality and style of new build property has improved dramatically over the last 10 to 15 years in Scotland. New build is leading the way in contemporary design, efficient heating systems and outstanding kitchens and bathrooms. Again, it’s personal taste. You may not get ornate coving and higher ceilings but you do get up to date technology and style.

 

Am I able to change the specification on a house to suit myself?

 

Depending on when you reserve a property, you may be able to have an input into the specification. Usually every buyer, as long as the property hasn’t already been built, is able to select kitchen, bathroom and tile choices. We will also try to accommodate minor alterations, such as moving radiators, providing you let us know early enough in the build program.

 

What are the differences in buying a new house and in buying a second hand house in regard to the process?

 

Buying new is definitely much easier than buying a second hand property. The reservation process for new build allows you to hold a property for a reservation fee. In addition you would be buying it at a fixed price which means you don’t need to go to a closing date or make your way through the minefield of ‘offers over’. The convenience of buying a new build property is definitely one of the reasons buyers are drawn to this sector of the market.

 

When should I put my own house up for sale and how should I sell after buying new?

 

You cannot get advice too early in regard to the sale of your existing property. Contact two or three prominent local estate agents for their advice, explaining to them your situation, and the likely completion date for your new build property. They will then provide you with a plan for successfully selling your property including timescales and the best point at which to launch your home onto the market. Selling times and likely dates of entry vary depending on where you live and the type of buyer you are likely to attract. Good agents will explain the best way forward.

 

Why can builders never give a confirmed entry date?

 

Giving exact entry dates for new build properties is always complex; so much depends on the type of development, suppliers, trades, and indeed weather conditions. When estimating an entry date our construction department take all this into consideration and aim to give the most realistic dates possible. These estimated dates will always be subject to passing NHBC final and council habitation inspections, which is why we can never confirm an entry date until we are in receipt of these certificates.

 

What is NHBC final Inspection?

 

The NHBC is a non-profit making, independent body, approved by the Department of the Environment, which lays down standards for house builders who are registered with it. Before you move in, the NHBC visit your home to check it conforms to their standards. The NHBC then issues a ten-year certificate that allows for the remedying of any serious structural defects that have developed during that time. The certificate is issued in respect of a building and automatically passes to the person who owns the house at any time during the ten years. This is very important, as most lenders will not grant a mortgage on a new property without this certificate.

 

Do new build houses hold their value?

 

Buying new is just like buying an established property in that there are no guarantees for anyone in the housing market. What is certain however, is that any study on house values over the last 5 to 10 years show residential property has been an outstanding investment. Even those having to sell within a relatively short period have found that they have been able to make a profit, and that with many new build developments selling out quickly there is often a waiting list for buyers looking to get into these particular developments.

 

I would like to buy a property to rent out. What advantages are there in buying a brand new one for this purpose?

 

Buying a new property definitely suits the ‘buy to let’ market more than an established property. That’s because, generally speaking, new build flats and houses are more secure, are in ‘walk-in condition’ with very little work needing to be carried out, and being brand new with all ‘mod cons’ are more appealing to the rental market.