Buying a new build home
March 21, 2017

We’re working with David Wilson Homes on bringing some fantastic new homes in Harbury and Southam to the market.

Buying a new build home can be a good choice and the Government’s Help to Buy Scheme can help you get your foot on the first rung of the property ladder.

Heres a few tips from the HomeOwners Alliance on buying a new build home and some information on the Help to Buy scheme

Buying a new build home

New homes attract a price premium so try to stay put for a few years. Future-proof your purchase by ensuring it fits with your personal plans for the next few years. Could you comfortably fit in a growing family?

Can you add value in the future – a conservatory or loft conversion? You may not be able to afford it now, but it may be an option in the future 

Look for good deals – some developers offer incentives such as free furnishings, a car parking space, or by paying your legal fees or stamp duty

Look further than the show home and do your research – look at developers’ other sites. Get a feel for the area and its amenities. Test transport routes and your new commute journey. If the development is partly completed – talk to local residents.

The Help to Buy Scheme

The Government can lend you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You can’t then sublet the home. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

The shared ownership scheme offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford it.

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To find out more information about the latest new build properties in our area please call or email us.