What to look out for when buying a new build home in Lancashire
In recent years we have seen a dramatic increase in the number of new homes built right across the North West.
In fact, Burnley and the surrounding villages could see up to 2,500 new homes built in the coming years.
Are your planning to buy a new build home?
Buying a new build property can offer a number of benefits, especially for first time buyers who want to avoid having to carry out renovation work on their first home.
However, there are a number of things you will need to look out for when buying a new build home.
Make sure the property is covered by a warranty scheme
Any new home builders and developers should be registered with the National House Builders Council (NHBC) or the property should be covered by a warranty scheme which complies with the Council of Mortgage Lenders requirements.
By making sure your home is covered by one of the schemes, you will be protected if there are any structural defects at the home.
Here at Residential Matters, our conveyancing experts can carry out the checks to ensure that your property is covered by a warranty scheme which is ensures you have the protection you need.
Check the length of lease and any restrictions of use
If you are buying a leasehold property, it is vital to receive legal advice on the lease before buying the property.
Recently, homeowners have found themselves facing spiralling ground rents after purchasing a new build home which have even affected the value of their home.
At Residential Matters, our solicitors will provide advice on the lease and any changes that could be made. We will also provide advice on any restrictions on how you can use the property you are buying.
Find out what is included in your home
You should never take for granted that the fixtures and fittings you see in a show home will be the same as those in the plot you are buying.
You should receive a fixtures, fittings and contents form (FFC form) attached to the sale agreement. If there you spot anything in this which you believe to be incorrect, let your conveyancing solicitor know as soon as possible. This will allow your conveyancer to address any problems before the contracts are exchanged.
Don’t skip the searches and surveys
Just because you are buying a new build home, you shouldn’t presume that you can skip the searches and surveys.
Carrying out searches will reveal who is responsible for roads and whether there are any further development proposals close to the property.
It is also important to carry out a New Build Snagging Survey. This is a survey which is specifically designed to identify problems with new build homes such as structural issues or issues with fittings.
Instruct a specialist solicitor to handle your conveyancing
When buying a new build home, it is vital that you have an experienced conveyancing solicitor on your side.
Here at Residential Matters, our dedicated solicitors are on hand to offer any advice you need on the legal process of buying your new home and keep you up to date with the progress of your move.
You can speak to one of our legal experts about your move today by calling 01282 695 400.
Or, you can receive an instant quote for your conveyancing by completing our free online quote calculator.