There are many benefits of buying a new build property which makes them a very popular option for a lot of buyers. These can include energy efficiency resulting in lower running costs, a 10-year building warranty, and many more.
In addition to this, the developer may offer you further incentives.
If you are buying your new build home straight from a developer, they may offer you benefits such as money towards a deposit, part-exchange deals, or shared equity schemes.
Deposit Paid
The developer may offer you a cash incentive towards your deposit or pay for other associated costs with moving to a new house. These cash incentives will be paid to your solicitor on completion. You will need to declare them to your mortgage lender if applicable.
Developer Assisted Sale
Many developers are now offering their assistance when trying to sell your own home.
They will find you the most appropriate deal, arrange for independent valuations, and agree an asking price and minimum you would be prepared to accept. They will then market your home through an estate agent or their own sales team to attempt to secure an early sale. This service is free, and the developer will pay for your estate agents fees.
Part-exchange
Your developer may offer you a part-exchange deal where they purchase your current home and sell it on. The advantage of this is that you will sell your home quickly and won’t incur time or financial costs associated with estate agents, viewings, and negotiating price. You will also avoid property chains.
SDLT and Other Benefits
Many developers offer a discount on the additional costs of purchasing a new build home. A popular choice is towards the SDLT and legal fees required to purchase a new home. Other costs developers may help pay include white goods and landscaping.
Our specialist New build property team will be on hand to help you choose the right developer for your situation. We can help to assess and compare the incentives offered to ensure you get the best deal possible.
