Customer service is not a great strength of the building
industry. Below is a checklist that will help to avoid
a costly mistake.
• Study the property specification
in depth when visiting the sales office. Literally pace
out the space: measure it against the square feet provided
by your present home to give you an indication of how
your furniture will fit in.
• Request a copy of the architect's
plans and other drawings.
• Check the floor area quoted
against room dimensions and ask whether the square footage
includes a balcony or terrace.
• Consider the exact position
of the property. What will the view be like? Is there
a lot of natural light? Where does the sun set?
• Shop around and compare local
property values. Normally, new-build carries a premium
of about 20 per cent.
• Visit the developer's other
sites and speak to owners.
• Ask if a parking space is included
in the price? Can it be sold to non-residents?
• How much will service charges
be and how will they be assessed? What do they cover?
Will you be protected against dramatic rises?
• Do not automatically buy extras
offered by the developer (wood flooring, for example).
It could be cheaper to buy them separately. Get any
special deals you have negotiated included in the contract.
• Check with your solicitor before
signing anything you are unsure about.
• Request a "deposit-back
clause" if your home is not ready within a certain
time frame.
• Consider employing a surveyor
to check the site and the specification.
• Make sure you can complete
the purchase within weeks, if necessary. It is important
to have your mortgage arranged.
• Never pay up-front for an unfinished
house. If the property is being custom-built, make sure
that staged payments are linked to specific progress.
• Ensure the scheme is covered
by the NHBC Buildmark warranty or an equivalent scheme.
This will protect you against builder bankruptcy or
shoddy workmanship.
|