Buying a new house is the biggest purchase you will probably ever make. For many, it can be a stressful time, but it doesn’t have to be. We’ve put together a shortlist of questions to ask the seller:
When buying a brand new house there is usually a higher demand. You may need to act quickly to ensure that you secure the plot. Try to find out how many have already viewed the house to find out if there is any other ‘competition’ with the house.
If you have ‘no chain’, you should be able to move quickly, if you also a first-time buyer you will also be a desirable buyer to the seller as the sale could be completed quickly. This can provide you with an advantage during your ‘negotiations’
New homes can often come with ‘extras’ incentives to encourage you to buy the house. But also older homes can come with items unwanted or offered by the seller. It’s wise to check just to clarify, are things like cookers, fridges and carpets, for example, could be included in the sale (or offered at an additional price). Make sure you clarify as you may be left with unwanted items that you then need to remove and dispose of.
It can be best to try and find out a little about your new neighbours, (we have all heard stories about ‘neighbours’) so try to gain some insight into your new neighbours. On new building developments, this may be a little more difficult.
Running a home has associated costs. Heating, lighting, council tax, water (newer homes tend to have a water meter).
These days people tend to be more aware of home running costs and will usually have some insight or ask about the running costs of the home.
We don’t always have a perfect summer but many people like to spend time in the garden. If you like to spend time in your garden, then you may wish to check how well the natural light enters your garden and whether it’s south-facing etc.
Generally, when you move into your new home, you will often want to decorate to your own tastes, but what other work needs to be done. On older properties, you may have some ‘fixes’ or repairs to make. Or make improvements to energy efficiency, insulation, garden work etc.
When buying an older property, there may be items that need repair. If there are any issues identified you can request the seller fixes these before the sale goes through (or reduces the price). In the case of new homes, there can sometimes be some minor repairs required after you move in due to settlement etc, or simple faults you identify after you move in, but ensure you report these within any given time limits.
So when you are buying your new home whether its a new build or older property, be sure to ask the questions you need to know about the house, also remember to negotiate your buy price, don’t be too keen and offer to high to start with and remember to take into consideration other factors such as when you would be able to move in and that fits your expectations.
There are costs associated with buying a home, valuation fees, survey fees, legal fees, removal costs stamp duty (on properties over £125,000) etc, as well as any possible house repairs. So be sure to take these into consideration.
We know that it can be hard understanding all of the different costs that come with buying a house. If you are confused or are a First Time Buyer taking your first steps into the mortgage world and want some help from an expert Mortgage Advisor in Derby, give us a call!