Purchasing a home is a major milestone, and buying a new build adds unique advantages and considerations. North Devon, with its stunning coastline, picturesque countryside, and vibrant communities, has become a popular location for those seeking modern homes. If you are considering investing in new build homes in North Devon, understanding the process step by step will make the experience smoother and more rewarding.
1. Research the Market and Locations
The first step in buying a new build home is to research the local property market. North Devon offers a range of locations, from bustling market towns to serene coastal villages. Understanding the differences in property prices, local amenities, schools, transport links, and community facilities is essential. Popular areas like Barnstaple, Ilfracombe, and Bideford often have new developments, each with unique characteristics and price points. Mapping out your preferred locations helps focus your search efficiently.
2. Determine Your Budget and Financing Options
Once you have identified the areas of interest, assessing your budget is crucial. Factor in the deposit, mortgage costs, and additional expenses such as legal fees, stamp duty, and moving costs. It’s advisable to get a mortgage agreement in principle early in the process. Many lenders offer specific mortgages for new build homes in North Devon, sometimes with incentives like lower deposit requirements or cashback schemes. Understanding your financial position ensures you can make informed offers and avoid unnecessary delays.
3. Find a Reputable Developer
Choosing a reputable developer is an important step when buying a new build. North Devon has a mix of local and national developers, each with varying standards of quality and customer service. Look for developers with positive reviews, a strong track record of completing projects on time, and transparent communication. Visiting completed homes or model properties can provide insight into build quality, layouts, and finishing standards. Developers often offer incentives such as free upgrades or flexible payment plans, but it’s important to compare offerings carefully.
4. Reserve Your New Build Home
Once you have found a suitable property, the next step is to reserve it. This typically involves paying a reservation fee, which secures the home while contracts are prepared. During this stage, it’s possible to request optional upgrades or customize certain features depending on the developer’s policies. Reserving a home early can provide peace of mind, particularly in sought-after North Devon locations where demand for new builds can be high.
5. Conduct Surveys and Legal Checks
Although new build homes often come with warranties and fewer structural concerns than older properties, it is still vital to carry out legal checks and surveys. A solicitor or conveyancer should review the contract, ensuring that terms, completion dates, and any potential restrictions are clear. Additionally, check for warranties such as the NHBC (National House Building Council) or similar guarantees, which protect against structural defects for a set period.
6. Exchange Contracts and Complete the Purchase
Once legal checks are completed and financing is confirmed, contracts can be exchanged. This legally commits both parties to the transaction. Completion dates are agreed upon, and the remaining balance of the purchase price is paid. On the agreed date, ownership of the property is transferred, and keys are handed over. New build homes in North Devon often offer modern layouts, energy-efficient features, and contemporary finishes that make moving in a smooth experience.
7. Post-Purchase Considerations
After moving into your new home, register any warranties and set up utility accounts. Many developers also provide aftercare services, including minor repairs or snagging lists. Staying informed about local services, community groups, and maintenance responsibilities will help you settle into your new North Devon home comfortably.
Conclusion
Buying a new build home in North Devon can be an exciting journey when approached methodically. From researching locations to securing financing, choosing a reputable developer, and completing the legal process, each step ensures that your investment is sound and your new home meets expectations. With careful planning and attention to detail, owning a new build in this beautiful region can offer a modern, comfortable lifestyle in one of England’s most scenic counties.