Newmarket and Ely Living Dec 2019 - Jan 2020
The fantastic festive issue is here, packed with local events, Christmas fun, delicious recipes, chef Michael Caines plus travel to Oman and advice on buying a new home.
The fantastic festive issue is here, packed with local events, Christmas fun, delicious recipes, chef Michael Caines plus travel to Oman and advice on buying a new home.
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HOW TO BUY A NEW<br />
HOME IN <strong>2020</strong><br />
If you are planning to buy a new home in <strong>2020</strong> here are<br />
some useful tips to get you on the property ladder...<br />
The continuing uncertainty around Brexit actually means there are<br />
delays to be done on new build homes across the country.<br />
We’ve asked Paula Higgins, Chief Executive of the Home Owners<br />
Alliance, to explain what you need to know before you buy a new<br />
build home in the current economic climate.<br />
Research, research, research!<br />
This is one of your biggest financial investments, so don’t just rely<br />
on glossy promotional materials. Read around about the developer<br />
of your new build home, search for online reviews <strong>and</strong> forums, <strong>and</strong><br />
visit homes they’ve built on other sites<br />
Get your finances in order<br />
Developers work to tight timescales <strong>and</strong> once you’ve put down a<br />
deposit you may have only 28 days to exchange. Speak to a feefree<br />
broker to find the right mortgage for you. For more information<br />
see New build homes <strong>and</strong> getting a mortgage (www.hoa.org.uk/<br />
advice/guides-for-homeowners/i-am-buying/new-build-homes-<strong>and</strong>getting-a-mortgage-top-tips/)<br />
Get your conveyancing solicitor lined up<br />
Try to find a conveyancer with experience of new build<br />
developments. They will need to check planning permissions,<br />
restrictive covenants <strong>and</strong> - importantly - the terms of any lease if you<br />
are buying a leasehold flat.<br />
Negotiate!<br />
With the slowing down of new build sales developers need to boost<br />
sales figures. That doubled with Brexit uncertainty <strong>and</strong> a slowing<br />
market means there is no better time to negotiate.<br />
be bold <strong>and</strong> see what else can be added into the mix – upgraded<br />
finishes <strong>and</strong> appliances are part of the negotiation process.<br />
Getting a survey<br />
Many builders won’t allow you to view the property until the day<br />
of completion. If this is the case you want to very quickly get an<br />
independent snagging inspector to identify <strong>and</strong> report on any<br />
defects or errors (from cosmetic to structural). You can read more<br />
about whether you need a snagging survey (www.hoa.org.uk/<br />
services/snagging-survey/)<br />
The HomeOwners Alliance www.hoa.org.uk offers expert advice <strong>and</strong><br />
services for every step of your home buying <strong>and</strong> selling journey.<br />
www.newmarketliving.co.uk | 35
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