5 Clever Ways To Protect Your Investment When Buying A New Build Property

Buying a new build property can often feel like the most logical option for first-time homeowners. New builds are made with the latest technology to ensure they are energy efficient and well-suited to modern life. They also appeal because you’ll be the first people living on the property, ensuring that there are no surprises to be found and allowing you to fully put your stamp on the place.

There are some risks to consider when buying a new building. Poor workmanship or environmental issues that might not be obvious when buying a property can take years to show and could cause significant problems over time. Understanding how to protect yourself when purchasing a new build is crucial, so you don’t face expensive repairs or maintenance costs throughout the years.

Research The Developers

Choosing a good developer is key to finding the best possible property. You should research how many properties the developer has built before and the kind of reputation they have. Check to see if there have been any reports in the news or social media of faulty or low-quality construction and the steps they have taken to resolve such issues. You can easily find a developer near you by going online and doing a quick search, where you will come across builders like southdownhomes.com which endeavour to make the building process as simple and easy as possible.

Talk To Residents

An excellent way to ensure that your investment in a new build is a sound one is to talk to residents in the development. Often, residents will start moving in as soon as homes are complete, meaning if the property you have your eye on is still under construction, you’ll still have plenty of time to meet with and discuss the quality of construction with current residents.

Get A Warranty

A warranty on your newly built home can give you essential peace of mind. You should consider a 10-year warranty new build policy that will protect you in the event that structural issues or latent defects become apparent. Choose a quality warranty from expert providers like Buildsafe so you can rest easy knowing your investment is protected.

Take Out Contents Insurance

In addition to protecting the property itself, it is a good idea to ensure you can protect your belongings inside the property too. Good contents insurance can be invaluable should something go wrong with your home, resulting in damage to your belongings. Look for contents insurance that covers everything from appliances to furniture to jewellery to get the best protection.

Do A Snagging Survey

For newly built homes, a snagging survey is a must. These are surveys specifically designed to test new build workmanship to ensure it meets the correct standards. A snagging survey can be done any time from when the contracts are signed up to two years after the home is completed. Snagging surveys can help protect you should you need to make a complaint about an issue that arises with the property.

Final Thoughts

Choosing the right property and developer is critical to ensure that you invest in a high-quality, long-lasting home. It is vital to do your homework before you select a property and ensure that there are no hidden issues that might come to light in the future. It is also best to take out insurance and warranties on your new home so that you aren’t financially out of pocket should some issue occur that requires resolving further down the line.