Buying a new build home offers numerous advantages, including modern design, energy efficiency, and the absence of a property chain. However, it is essential to recognise that purchasing a new build property can be lengthier and more complex than buying an existing home. But why?
New build homes often involve additional legal considerations compared to standard property purchases. Developers may include specific clauses and conditions in the contract that differ from traditional sales. These may relate to completion dates, snagging, warranties, and developer obligations. An experienced property solicitor or conveyancer can help you understand and negotiate these terms, ensuring they are fair and protect your interests.
Below, our property team lists some other reasons why buying a new build home may be more complex.
- Off-Plan Purchases: In some cases, buyers may purchase a new build property before its construction is completed, commonly known as an off-plan purchase. Buying a home off-plan introduces an added layer of complexity, as buyers rely on architectural plans, specifications, and developer promises rather than physically inspecting the property. It is crucial to have a legal professional review all documentation thoroughly to ensure that everything aligns with your expectations.
- Development Delays: Construction projects are susceptible to unforeseen delays. Subsequently, estimated completion dates developers provide may change, potentially impacting your moving plans. Your solicitor or residential conveyancer can assist in negotiating appropriate safeguards and compensation clauses in the contract to protect your interests in case of any significant delays.
- Snagging Issues: New build properties can experience defects or “snagging” issues that arise after completion. These could include cosmetic flaws, incomplete finishes, or faulty installations. Your solicitor or conveyancer can help you understand the developer’s obligations regarding snagging issues and ensure they are addressed satisfactorily before the completion.
- Additional Documentation: When purchasing a new build home, you may encounter additional documentation specific to the development, such as warranties, building regulations certificates, NHBC (National House Building Council) certificates, and guarantees for fixtures and fittings. Your property lawyer will review and verify these documents, ensuring you have the necessary assurances and protection for your investment.
- Shared Amenities and Service Charges: New build developments often include shared amenities such as communal spaces, gyms, parking facilities, or landscaped gardens. In such cases, you may be required to pay service charges to maintain and manage these facilities. Your solicitor or conveyancer will review the details of the service charges and ensure these are fair, fall in line with legislation and that you have a clear understanding of your responsibilities and obligations.
New Build Property Solicitors Kingston
Engaging a regulated solicitor or conveyancer with experience in new-build conveyancing is essential to navigate these complexities, protect your interests, and ensure a successful and less stressful home buying experience. Read our previous article How can you speed up the Conveyancing Process?
At Rose & Rose, we are experienced in all aspects of Property Law, including working with first-time buyers, experienced property developers and buyers wishing to move up the property ladder. For specialist property advice from experienced, regulated conveyancing solicitors, contact a member of our team below to discuss the best way forward for you.
This blog post is not intended to be taken as advice or acted upon. If you are seeking legal advice, please contact our team of solicitors.
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