NEW HOUSING DEVELOPMENT BOOM!
In 2019 and 2020 in one of my newsletters I asked the question, were those years going to be the year of the New Build and yet here we are in 2021 and this year again really does seem to be the year of the New Build. I might even be eating my words next year if the current New Housing Boom continues across the Amber Valley Region as there are some seriously large developments currently under way that are offering several hundred properties of 2, 3, 4 and 5 bedrooms.
For those of you who are considering buying a new build property I thought I’d give you a few pointers that you might want to consider when buying a new build home.
Do your research! One benefit of choosing an area with several different developments is that you can research similar types of properties in the same area. Compare the asking prices, ask about added extras, what is the re-sale value likely to be in a few years time? Consult local Estate Agents for advice on how each area of the region is performing.
Size really does matter! And I don’t mean whether it’s a 2 or a 5 bedroom property, I mean the floor area of your new property. Some new build houses have small rooms and therefore small overall floor areas. Are you getting value for money? Work out how much a square metre you will be paying.
Depending on the developer and the area you might be paying much more per square metre for your new home.
Are you receiving value for money? How can you tell if you’re really getting value for money? One way is to visit several different developments in the area in which you want to live. Inspect the finished craftsmanship of the different properties on offer, I can guarantee that each developer will have a different standard of finishing to their properties, make sure that the house that you choose if of the highest standard. If you’re buying a property off plan ask if you might view other houses of the same type on other developments and then you can see and actually touch the finish that you will be expecting in the house that you want to buy. Remember, don’t just look at the Show Home on the site, they should be finished to the highest standard. Ask to look at the other houses on the site too.
EXTRA, Extra, Extra. If you don’t ask, you won’t get! Always ask what free of charge extras you might expect with a new build property. Such items might be carpets, additional light fittings or plug sockets, if you think that the standard number might not be enough for you, try asking for more. Can you get extra appliances free of cost, and is there any help with legal fees?
If you need any advice when considering the purchase of a new build property, give us a call on 01773 609446, we’re always here to help.