We do like to live by water Yes, the warm Summer weather can make a big difference when it comes to thinking where we’d most like to live. An air-conditioned apartment, a South-facing garden or how about something on the coast? A recent study done across Britain revealed most of us would prefer to live near water, given the chance. Ideally by the sea.
Many think of new build homes as the desirable first step onto the property ladder for younger property buyers or those starting out with a family. But, buying new is just as attractive a proposition for those looking to downsize from a large family home to something smaller. Something clean, affordable and requiring minimal decoration, offering a new start to a new phase in life.
Choose a conveyancer You’ve got your mortgage, you’ve found your dream new home, but who will you appoint to handle your conveyancing? It’s a bit of a minefield as with most things, there’s a huge amount of choice. Do you go for a local firm, one that’s been recommended to you? Do you choose by the cheapest fees? If you’re buying a new-build property, the choice is made a little easier as a specialist conveyancer is required. Here’s why…
Leasehold banned on new-build homes Despite the ban on leaseholds being promised back at the start of 2018, the government went on to backtrack on their plans. It was only recently the confirmation came through from government ministers that they will legislate to sell all new homes on a freehold basis (save exceptional circumstances). The ban only applies to new homes being built, those which already have been built can still be sold as leasehold. In addition to the ban, ground rents on new leases will be reduced to zero, putting an end to the financial misery for those looking to buy new. For flats and apartments built as new, the ground rent change will apply once the new rules come into force, but they will still be able to be sold as leasehold.
First-time Buyers are looking beyond the City It probably won’t come as too big a surprise, but in a recent survey by Nottingham Building Society it was found that many younger homebuyers were more in favour of a rural location for their first home over buying in the city. While apartments across major UK cities are becoming more affordable, the cost of them is still quite substantial and there are better deals to be had looking out of town.
