5 Things to Look Out for When Buying a New Build Property

Buying a new-build home can offer considerable appeal: brand-new fixtures and fittings, contemporary layouts, and often lower maintenance costs in the early years. However, even in new-build transactions, there are pitfalls that require careful attention.

At Marsons Solicitors LLP, our conveyancing team regularly sees issues that catch purchasers unawares.

Here are 5 things to look out for when buying a new-build property.

1. Warranty against defects

‍

Ensure that the developer is properly registered with a recognised new-build warranty scheme (such as NHBC or equivalent) and that your plot is covered. Without that cover, you may be exposed to substantial costs if defects emerge.

2. Specification changes and snagging rights

New-builds are often sold "off-plan" - which means you buy when the property is not "build complete", indeed construction of your plot may not even have started. Developers often reserve the right to make changes to fixtures, finishes, or layouts before the building is complete. Check the reservation contract carefully and ensure your right to carry out "snagging" is clearly set out. 

3. Completion timings and exchange risks

‍

New-build contracts often involve flexible or short completion dates. Our new build team will help you stick to deadlines and make sure you understand how and when you are likely to be able to complete the purchase and move in.

4. Estate management, service charges & shared facilities

Many developments include communal areas managed by a management company. We will make sure you understand what contribution you’ll pay for these shared services, how charges are calculated, and whether and  what restrictive covenants (what you can and can't do) apply to your property.

5. Resale value, restrictions and title issues

New-build homes can be subject to use restrictions, onerous or unusual leasehold terms, increasing ground rent clauses or other factors that may affect future value. A solicitor must review the title carefully to identify anything unusual.

If you’re considering buying a new build, Marsons Solicitors’ experienced new build team is here to guide you through the process with clarity and confidence. Please feel free to contact us here.

‍

In the meantime, why not follow us on Facebook, Instagram, LinkedIn and X to stay up-to-date. 

‍