Buying our first home...
Discussion
Be very careful - there are lots of threads on moneysavingexpert.com about this sort of thing. You will have to register to read them as the homes section isn't open on the forum if you don't register.
The jist of it is don't be pulled in by tales of 50+ phone calls etc. Then don't sign anything until you are certain of value etc. There are many tales of people signing and paying a deposit then the bank value the house at much less. Builder won't budge, buyer can't afford the difference and guess what - you're in breach of contract.
In these turbulent times I would be putting my money into something that is actually built - and that would mean the whole estate / roads finished etc. You don't want to live on an unfinished estate if the builder can't sell enough to get the development finished.
You do pay a premium for a new build like a new car. The surveyor will value as 'used' as that is how they would have to sell it on if the worst happened. Adding carpets and turf etc is peanuts don't be fooled by this and it will be literally turf put over building waste / rubble so no good anyway.
Do your sums and look at some existing properties with a view to complete redecoration to your taste. Then it will be like a new build.
The jist of it is don't be pulled in by tales of 50+ phone calls etc. Then don't sign anything until you are certain of value etc. There are many tales of people signing and paying a deposit then the bank value the house at much less. Builder won't budge, buyer can't afford the difference and guess what - you're in breach of contract.
In these turbulent times I would be putting my money into something that is actually built - and that would mean the whole estate / roads finished etc. You don't want to live on an unfinished estate if the builder can't sell enough to get the development finished.
You do pay a premium for a new build like a new car. The surveyor will value as 'used' as that is how they would have to sell it on if the worst happened. Adding carpets and turf etc is peanuts don't be fooled by this and it will be literally turf put over building waste / rubble so no good anyway.
Do your sums and look at some existing properties with a view to complete redecoration to your taste. Then it will be like a new build.
I'm not sure exactly what stage the development is at, but that is a question for Saturday. It does seem to be very near completion as a large number of homes are already occupied.
The house next door to the one we are interested in is already sold and is not completed either. I ideally would like to speak to the people buying that property but no that probably is unlikely (impossible). I plan on getting in touch with one or two people currently living on the estate to get some opinions on the quality of the work and how they feel the whole process went when they purchased?
Am I being a little OTT?
The house next door to the one we are interested in is already sold and is not completed either. I ideally would like to speak to the people buying that property but no that probably is unlikely (impossible). I plan on getting in touch with one or two people currently living on the estate to get some opinions on the quality of the work and how they feel the whole process went when they purchased?
Am I being a little OTT?
The new build we NEARLY bought was about 8 months from completion. We could reserve it with a cheque for £1,000 that would only be cashed on specification of the interior.
We read the terms very carefully, and reserved it. In the meantime, we found the place we eventually bought. When it was time to spec the new build, I went and retrieved my cheque.
They weren't too happy, but it sold soon after. If you like the new build, try for something similar. You might not get it, but it might be worth trying. You can always keep looking.
We read the terms very carefully, and reserved it. In the meantime, we found the place we eventually bought. When it was time to spec the new build, I went and retrieved my cheque.
They weren't too happy, but it sold soon after. If you like the new build, try for something similar. You might not get it, but it might be worth trying. You can always keep looking.
When you buy a new build, you typically have some time post completion to go through any snags with quality of finish with the site manager, so references may not be necessary (or available - it is an unusual request) on quality of finish. As for build quality, today's insulation materials and codes mean that you stand a better chance than when properties were thrown up quickly in the 80s and 90s to meet a massive demand from buyers.
I have bought two new properties in the past, and frankly I would never let them touch anything cosmetic in snagging as they tend to make it look a lot worse with caulk bodges and paint smears - I'd rather get it right myself! But for major issues you can't handle, your snagging period is there to get the things that you are unhappy with rectified. Use it well. Going forward, the NHBC and appliance guarantees are there for any major issues. One of our builders was having so many issues with the quality of exterior paint that 5 years after completion they sent us an unsolicited cheque for £500 to get the outside painted, so they are not all bad.
As many have said, prices are inflated. But you are moving into a brand new house. So just drop your furniture in and you are good to go on living your life. No clearing up other people's mess, damage and duff colours, no holes in walls and boilers about to break down. So there is some degree of benefit in paying the premium. You should also get the chance to specify your choice of tiles, kitchen colours etc if you reserve at the right time in the build.
You will not get a lot of garden, but on the plus side, what young couple wants to spend all their time cutting the grass and weeding borders?
The property my kid is buying is small but nice. Coming back here after a visit to the show home feels like the difference between a new car and a 5 year old 60,000 miler - but in my defence we have a LOT of rooms in this house so decorating takes some time (and money). So I'd better get the paint brushes out yet again I guess.
I have bought two new properties in the past, and frankly I would never let them touch anything cosmetic in snagging as they tend to make it look a lot worse with caulk bodges and paint smears - I'd rather get it right myself! But for major issues you can't handle, your snagging period is there to get the things that you are unhappy with rectified. Use it well. Going forward, the NHBC and appliance guarantees are there for any major issues. One of our builders was having so many issues with the quality of exterior paint that 5 years after completion they sent us an unsolicited cheque for £500 to get the outside painted, so they are not all bad.
As many have said, prices are inflated. But you are moving into a brand new house. So just drop your furniture in and you are good to go on living your life. No clearing up other people's mess, damage and duff colours, no holes in walls and boilers about to break down. So there is some degree of benefit in paying the premium. You should also get the chance to specify your choice of tiles, kitchen colours etc if you reserve at the right time in the build.
You will not get a lot of garden, but on the plus side, what young couple wants to spend all their time cutting the grass and weeding borders?
The property my kid is buying is small but nice. Coming back here after a visit to the show home feels like the difference between a new car and a 5 year old 60,000 miler - but in my defence we have a LOT of rooms in this house so decorating takes some time (and money). So I'd better get the paint brushes out yet again I guess.
I think a lot of it comes to what sort of person you are, do you want a 'turn key' solution or do you want to personalise your home a bit?
I've bought 2 new builds in the past and the fact that they are good to go from day 1 is a brilliant thing. I've also bought older houses and they are a pain, they cost a lot of time and money to fix up to the standard you like, but I tend to find when they are done they are far far nicer, they tend to have more character, bigger rooms, better parking etc.
I dont miss the new build properties, but i'd miss the ones i'd had done up myself, after the money and sweat there's a level of satisfaction and quality you never get from a new build.
Personally I think you're young, look for a fixer upper and have some fun making it into a perfect pad with your own stamp on.
I've bought 2 new builds in the past and the fact that they are good to go from day 1 is a brilliant thing. I've also bought older houses and they are a pain, they cost a lot of time and money to fix up to the standard you like, but I tend to find when they are done they are far far nicer, they tend to have more character, bigger rooms, better parking etc.
I dont miss the new build properties, but i'd miss the ones i'd had done up myself, after the money and sweat there's a level of satisfaction and quality you never get from a new build.
Personally I think you're young, look for a fixer upper and have some fun making it into a perfect pad with your own stamp on.
Well I think I may have caught this one a little nearer completion, only 2-4 months away now but have been told the interior can still be upgraded and decorated to individual specification (would rather do it myself anyway I think)... If we like it enough, I will be more than happy to put a reservation on it, they only require £350 for this development.
The garden is 51m2 but gets narrower towards the end due to the angle of the garage (not much narrower though..) I think the garden will be fine. It only needs to have table and chairs, space for a BBQ and a bit of room for the dog to run about in. The park is literally 100 yards from the front door, so we don't need acres of space in the back garden.
The bonus of the NHBC protection is quite appealing, at the end of the day, it is 10 years of help with any major problems? That would probably relax me a lot.
With regards to number of bedrooms and getting a house to fix up... There is currently only 2 of us and our dog, we do plan on having children, but the second bedroom is more than big enough for a child and even two to share for a few years. I did it when I was younger! My OH isn't someone who fancies moving in somewhere that needs work doing. I have quite a good imagination and can convince myself anything would look good... she on the other hand, wants to be able to dump furniture and live there.
I'm guessing the comment about new builds meaning tosspot owners is a little bit of trolling? My current neighbours are all a
holes and the houses aren't new!
This final bit is completely unrelated to any of that and probably makes me a bit of a tosspot but...
My OH is a qualified singing teacher and will be teaching from home. In my opinion, image is a big thing and as shallow as it is, I believe a nice new build estate would attract people back rather than the big, 3 bed semi on the old fashioned estate that is riddled with kids on scooters...
The garden is 51m2 but gets narrower towards the end due to the angle of the garage (not much narrower though..) I think the garden will be fine. It only needs to have table and chairs, space for a BBQ and a bit of room for the dog to run about in. The park is literally 100 yards from the front door, so we don't need acres of space in the back garden.
The bonus of the NHBC protection is quite appealing, at the end of the day, it is 10 years of help with any major problems? That would probably relax me a lot.
With regards to number of bedrooms and getting a house to fix up... There is currently only 2 of us and our dog, we do plan on having children, but the second bedroom is more than big enough for a child and even two to share for a few years. I did it when I was younger! My OH isn't someone who fancies moving in somewhere that needs work doing. I have quite a good imagination and can convince myself anything would look good... she on the other hand, wants to be able to dump furniture and live there.
I'm guessing the comment about new builds meaning tosspot owners is a little bit of trolling? My current neighbours are all a
holes and the houses aren't new!This final bit is completely unrelated to any of that and probably makes me a bit of a tosspot but...
My OH is a qualified singing teacher and will be teaching from home. In my opinion, image is a big thing and as shallow as it is, I believe a nice new build estate would attract people back rather than the big, 3 bed semi on the old fashioned estate that is riddled with kids on scooters...
fridaypassion said:
Be aware that with new builds you are guaranteed to have tosspot neighbours wheres with older properties the risk is there but much less.....
Guaranteed? I don't think so. Just check for affordable housing nearby or on the next phase.........I think you are MUCH less likely to get a big discount on the FTB'er type of properties, despite what you may think these are still selling well. It's the £300K+ ones that are sticking around for a while.
Dave_ST220 said:
fridaypassion said:
Be aware that with new builds you are guaranteed to have tosspot neighbours wheres with older properties the risk is there but much less.....
Guaranteed? I don't think so. Just check for affordable housing nearby or on the next phase.........I think you are MUCH less likely to get a big discount on the FTB'er type of properties, despite what you may think these are still selling well. It's the £300K+ ones that are sticking around for a while.
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