New build completions reach 200,000 It doesn’t need to be said that there’s still unprecedented demand for new homes across the country. And that demand is greater in some areas than others. However, there is some good news to share in that new build home completions this year saw figures at their highest in a very long time. That said, they still fall short of the government’s target for delivering new homes. Let’s find out more…
The cost of buying new Whether it’s your very first time buying a home, or it’s been a while since you last purchased a property, it’s important to consider all the costs associated with moving. The same goes even if you’re buying a new build property. There may be offers with your housebuilder and you may well qualify for stamp duty exemption, which all helps with the budget. But what about all the other costs here and there which soon start to add up?
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.
Traditional features lead the way Some new research was published last week, highlighting the most important factors a new-build home can have, from the point of view of homebuyers who are looking to buy new. And despite our desire for lifestyle and contemporary living, it’s the more traditional features which still rank as the most sought after when people are looking for their ideal new property.
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.
Record figures for first-time buyers With all the political turmoil in the country over the last few months, anyone would be surprised to hear property sales have broken records this year. Buy they have, and they come via the first-time buyer proportion of the market. We look at the numbers and the reasons why…
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…
New homes flourish in Scotland There has been a steady increase in the number of new build homes in Scotland over the last few years. In fact, figures from the last 12 months show new home building has increased by 15% compared to last year, with a rise of 3,000 new properties brought to market.
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.
