A recent article from The Times newspaper has highlighted some issues of concern surrounding new build properties.
Unfortunately, the standard of new build houses on developments these days can fall short of the required standard and we frequently see articles in the news about the poor workmanship of new houses. The article from The Times newspaper highlighted some very good tips to buyers who are considering or already committed to buying a new build property.
One of the first recommendations is to visit the Home Owners Alliance website. This website contains lots of information, not only for new builds, but house buying and selling generally.
Another recommendation is to download the NHBC’s guide and checklist for new homes to go through before you complete your purchase and again when you move in.
We strongly recommend you have a survey, which should follow the same form as a second hand property, and also obtain a snagging report. A snagging report lists any defects in the build which you can then provide to the builder and ask them to rectify.
You should also be aware of the 10 year warranties which are provided on most (but not all!) new builds. NHBC is most common, but other insurers are available including LABC and Premier Guarantee. You should be aware that different insurers have differing levels of excess, meaning that if there was a defect you would have to pay, for example £1,000 excess in certain cases, before the insurer would attend to the claim.
If you have any concerns or would like advice on buying a new building property, our experienced property lawyers can help, and guide you through the conveyancing process.