New Homes

Helping to deliver much needed New Homes

The Property Hub are experienced and trusted New Home and Off-Plan property sales, acquisitions and portfolio management experts covering Wembley, and the wider Brent and Harrow, North West London area.

Working in partnership with some of the most well-know household names in New Home Developments, we are here to guide buyers and investors, through the complexities of buying a new home.

With our extensive experience in the new homes market, Property Hub is well-equipped to assist you with any type of new home and off-plan property acquisition or portfolio management needs. Providing a vast amount of industry experience and market knowledge, we equip our clients with the necessary tools and insights to achieve their investment goals and make informed decisions about their assets. Whether you are a foreign or domestic investor, Property Hub is your go-to resource for purchasing new homes.

 Guide to Buying a New Home

 The Benefits of New Homes

Newly constructed properties are much more energy efficient and therefore a great deal more economical to run than many older properties, you may also benefit from structural and other guarantees as such as NHBC from the builder or developer.

 Financing your Purchase

Just as you would with any property purchase, you will need to work out how you are going to pay for the property, and organise a mortgage in principle if required.

If this is your first home, find out if there are any current Government Schemes that could help you finance the purchase.

We can organise a consultation with one of our trusted independent mortgage advisors if you would like impartial, whole of market advice on your funding options. Please let us know and we can arrange this for you. 

 What are your Investment Goals?

Are you looking at purchasing for personal habitation or is this purchase purely an investment choice?

If your motive is personal use, we can assist in finding the perfect property to match your requirement – often before schemes launch to the public.

If the purchase is for investment, are you looking to benefit from the rental yields, capital growth, or both?

Simply let us know what you want to achieve and we can do the rest.

Many investors who buy property off-plan purchase at the earliest phases of planning and construction (phase one), with the intention of securing a short term profit by re-selling the contract otherwise known as flipping (assigning) their investment prior to the completion of the development. Others will take a medium to long term view on the investment by holding their stock as part of a property portfolio, hedging that their investment will be worth more closer to completion than at the point of purchase from the developer; which is often the case in the London market.

 Making use of Developer Incentives

With such a wealth of new schemes in London there may be opportunities to make use of the various discounts and financial incentives from a developer. We also often have investors looking to buy within the same developments so we may able to place bulk buys at a more lucrative price.

 The Risks

Investing off-plan does come with associated risks and so wherever you choose to invest, always ensure that you undertake your own careful planning and due diligence. We of course aim to keep risk to a minimum and always listen to your needs and affordability.

 Conveyancing 

The exchange process usually takes around 3-4 weeks. Making use of a solicitor who is competent and well versed when dealing with new homes, assignments or nominations is highly recommended. Property Hub keeps ties with a number of solicitors firms who will be able to assist any buyer or vendor.

 Exchange

Unusually you will be required to put down a deposit 10 or 20 per cent of the purchase price (minus your deposit already paid) or if you purchase an assignment you will need to factor in the vendors (current owner of the contract) appreciation so far. Depending on the development, there may be further staged payments due before completion.

Property Hub will provide a clear payment plan ensuring that you have the knowledge necessary to move forward on your purchase.

 Pre completion Checks

 Snagging 

Prior to completion, the Property Hub can organise an inspection of the property before taking charge of the keys on your behalf. Any issues with the property will be raised with the developer and any unit that is not up to standard will not be signed over until you are happy with the finished product. 

It is vital that you assess the condition of the property with a critical eye. Even minor faults can lead to more serious issues in the future. The process of fixing such issues can be both expensive and time-consuming.

Developers will request a report to assess the condition of your property before they commence remedial work.

We recommend that you arrange the snagging inspection as close to completion as possible.

 The Inspection

During the snagging inspection, we will inspect as much of your property as safety will allow. This will include all accessible surface areas and floors. We will not assess areas which are unreachable or undercover.

As a result, we will not attempt to raise carpets, floorboards or move any furniture. However, we will lift loose coverings as long as we are sure that doing so will not cause any damage.

The inspection's main objective is to give the client professional advice which will enable them to agree with the Developer / Builders those works which are to be rectified as a condition of purchase.

 The Services

The services will be inspected visually and physically where possible. The inspector will not be able to assess the efficiency of the gas, plumbing, heating, electric or drainage systems.

The developer should be able to provide a relevant Building Regulation and Compliance Certification in respect of these services.

 The Report

We will provide you with a detailed report on our findings within 72 hours of the inspection. This will recommend the best course of action to fix any issues before you sell, let, or move into the property.

We will send you one copy of the report and one to the developer where possible to do so. When the process of fixing any issues begins, we will be on hand to provide any support and advice that you need.

 Fees

The fee you pay will depend on the size of the property.

1 Bed £195.00 +vat
2 Bed £250.00 +vat
3 Bed £275.00 +vat
4 Bed £350.00 +vat
5 Bed £450.00 +vat

The agreed fee includes one site inspection by a registered professional (NFOPP and or NAEA Property Mark registered member). Additional site inspections can be charged at an additional agreed rate. Payment for the service will be required prior to the inspection being carried out.

Should you choose to make use of our agency services in order to sell or rent your property the inspection fee will be refunded on the successful completion of a sale of on the day that your tenant moves into the property.

 Cancellation

The client will be entitled to cancel the inspection by notifying the inspector by email 48 hours prior to the inspection booking. In the case of cancellation the inspector will refund any money paid for the service. If cancellation falls within 48 hours of the inspection date 90% will be refunded allowing for reasonably incurred costs.

 Completion

When your new build home is ready, the developer will issue a completion notice informing you on how long you have to complete on your purchase - usually between two and four weeks. At this point we advise to arrange funds or advise your mortgage company and your solicitor will do the rest.

Congratulations!

You now pay the outstanding purchase, pick up your keys and are now the proud owner of a shiny new home. 

Thinking about buying a new build home?

Get in touch with us for a chat about your buying options.