New build homes in our areas

Buying a new build: the five things that catch buyers out

• Reservation agreements: the fee is often non-refundable and the deadline to exchange can be as short as 28 days. Instruct a conveyancer the day you reserve.
• The long-stop date: your contract should say the latest date the home must be finished, and what happens if it is not.
• Warranties: check the home has a new homes warranty (for example NHBC, Premier Guarantee or LABC) and what it covers in years one and two.
• Estate charges and leases: many new estates have a management company that charges a yearly fee for roads and green spaces; new flats are almost always leasehold. Ask for the figures before you exchange.
• Roads and drains: check they are covered by adoption agreements, so the council and water company will take them over.