Things to know before you buy

5 April 2012
The Weekender

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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.

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