Buying a new build home

There are many benefits in buying a new build home, energy efficiency, low maintenance and a fast, straight forward buying process, with no chain.

You may need to wait for your new home to actually be built if buying ‘off-plan’! But choosing a plot and watching a building grow week by week can be very exciting, and buying an existing property in a large chain can very likely take even longer than an efficient build.
building site, new build home construction, scaffold, blue sky

Many people like the idea of being the first to live in a property, that you may be able to choose the plot or unit that best suits you, and select fixtures and fittings. There will be minimal costs for redecorating and no repairs, and new properties usually come with guarantees. As well as NHBC’s 10-year warranty, other companies provide warranties and insurance for new homes, such as BLP’s housing warranty insurance.

In this blog, we’ve highlighted a number of important things to consider when buying your new build property. And keep in mind, we have experienced teams that can assist you with any of these points, should you need any advice or help at all.

Guaranteed standards

All new developments must comply with stringent modern building standards and regulations for quality, energy efficiency and sound insulation. They most likely include a comprehensive insurance warranty (typically 10 years), covering major faults in design, materials or workmanship, giving you peace of mind that your new home has been built to the highest standards and will be covered for any problems.


As with any property you need to take a good look for yourself, don’t just rely on the marketing materials, depending on the build stage there will be a show suite or actual show home, have a good look around and ask any questions that come to mind.

We always advise our buyers to take a good look around the neighbourhood to get a feel for what it may be like to live there, try different times of the day and week. Consider local amenities and travel links. If it’s a large site you may be able to talk to new homeowners and ask how they are enjoying their new homes, explain you’re thinking of buying one too.

Simpler buying process

The process for buying a new build home is similar to buying an older property; however, it is more structured and subject to defined deadlines to exchange contracts (usually 28 days), and of course, there’s the benefit of no chain. Ensure you understand the requirements, from paying a deposit, exactly what’s included in the purchase price, to completion dates.


As with buying a resell property, there may be an opportunity to negotiate. Find out what other properties on the site have been sold for if possible.

Shop around for good deals. Many developers offer incentives to differentiate them from other local developments, such as free furnishings, a parking space, or paying your legal fees. If you can’t negotiate money off the price, the common offer to pay your stamp duty is probably the best deal to negotiate.
new build homes site plan

Buying off-plan

You may be purchasing “off-plan” – effectively buying it before it’s been built. This is not as daunting as it may seem and with guidance from the salesperson you should soon be able to visualise how your new home will look, even if a show home or opportunity to visit the site is not available at the time of reservation. Ensure you take time to study the site plan, consider exterior factors such as the aspect, location of parking spaces or site amenities such as communal gardens or children’s play areas and parks. And if you are paying extra for a balcony or a larger garden which direction is it facing? 

Your mortgage

You will need to liaise with your financial advisor as to when is best to apply for your mortgage.

It shouldn’t present any problems as High Street lenders are familiar with the process and potential timeframes. There may however be an issue around how long your mortgage offer is valid for, most are only valid for six months. If the build is delayed due to unforeseen circumstances like the great British weather and it isn’t going to be ready within that time you may be able to get the lender to extend the offer. But in most cases, your mortgage application will need to be re-assessed by starting your application all over again. A good financial advisor should be able to assist in all matters.

Recognising that new build projects can be subject to delays, some lenders have special new build mortgages, with a longer validity period that can be up to three months longer than their usual deadlines. Check with your mortgage broker as they will know the products which will remain valid for longer and how the interest rates and fees may differ.


Appointing a solicitor to take care of all the legal paperwork (conveyancing) should be done within 2 working days of reservation to ensure a quick and smooth purchase process. At this time, it’s worth mentioning that you need to be fully aware of the property's title, is it freehold or leashold? 


If you own the freehold, it means that you own the building and the land it stands on outright, in perpetuity. It is your name in the land registry as “freeholder”, owning the “title absolute”.


Unlike a freeholder, as a leaseholder you own the property but not the land on which it is built – that is owned by the freeholder. Ownership of your property is also for a set period, which can be a number of years, decades or centuries, depending on the length of your lease. If your lease expires, ownership of your property technically passes to the freeholder.

Leaseholders will likely have to pay maintenance fees, annual service charges* and their share of the building’s insurance. Leaseholders normally pay an annual ground rent** to the freeholder.

Leaseholders will have to obtain permission for any majors works done to the property and may face other restrictions, such as not owning pets or subletting.

All of which will be studied and discussed with you by your conveyancer, leasehold purchases do therefore require more work and this is likely reflected in the conveyancing costs.
people on a building site tour, home construction, hard hats

Site visits

There will be opportunities for you to view the progress of the development, they will be arranged via your sales contact but it is worth noting that it will only be when the site manager advises it is safe to do so, and will typically be when your property is near completion.

Some other things you need to know

Notice of completion

After you sign and exchange contracts with the developer, your solicitor will receive a Notice to Complete, which will give you the date that you must complete the purchase by, typically 10 working days. If you’re buying your new home “off-plan” and the building is yet to be completed, the time between exchange and notice to complete being issued may be significant. It is important to be aware of the timescales and plan your accommodation to allow for this. In particular, we advise that you do not give notice on rented accommodation until you are certain of a completion date for your new home, and you have liaised with your solicitor.

Insuring your property

Your insurance requirements will be different depending on whether you intend to live in the property or let it. You must ensure that your insurance provides sufficient cover for your new property as part of your mortgage agreement. If you’re letting your property you will require specialist landlord insurance.

Help to Buy

Help to Buy is a Government scheme designed to help people who may not have a large deposit buy a new home or move up the property ladder. It is only available to those that are purchasing a property for themselves to live in as their only property. There are several 'Help to Buy' Schemes, for more information click here

**Ground Rent

Many properties within the South West are leasehold, this is most commonly found with apartments. Ground rent is the money that you pay as a leaseholder to the Landlord or Freeholder for effectively renting the land that the leasehold property sits on. This is usually a fixed sum that is paid annually. Your solicitor will confirm details of this during the conveyancing process.

*Service charge

With leasehold properties, there is commonly a service charge payment. This is usually for services that you as a leaseholder will use but not be specifically responsible for (i.e. maintenance of communal areas within a building such as shared hallways, lifts, fire alarms and so on). This is often collected through a management company on behalf of the Landlord or Freeholder. Under the terms of the lease, you will be responsible for paying these amounts.

We hope this blog helps, of course, if it happens to be a new build development Ocean are involved in selling then we will have an expert sales team on hand to help every step of the way. You'll also have a Move Manager if you have an offer accepted. If you need a quote for conveyancing (whether buying with us or not) click here.

And finally, here's a glossary of terms so that you can talk the talk when buying a new build home


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