Podcast: Buying a new build home

What do first-time buyers in Scotland need to know?

In this episode of the ESPC Podcast, Megan & Paul dive into the world of buying new build homes in Scotland with Hazel Davies from Cruden Homes and Kim Newbegging from Cala Homes Scotland.

They share valuable insights into the new build purchasing process, discuss the benefits of buying new build properties, and answer key questions prospective buyers might have. Whether you're a first-time buyer or looking to invest in a new property, this episode provides essential information to help you navigate the Scottish property market.

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Key Insights

Explanation of the New Build Purchasing Process

Hazel and Kim chat through the detailed process of purchasing a new build home, starting from the initial enquiry to the final move-in. Hazel explains that the journey begins with exploring different developments and house types, often through online research or visiting show homes. Potential buyers then reserve a plot by paying a reservation fee, securing their preferred home while finalising financial arrangements, such as mortgages. Kim adds that once a reservation is made, buyers will have meetings with sales advisors to select customisation options, ensuring the home suits their preferences. The legal process follows, involving solicitors who handle the conveyancing and ensure all contracts are in place. Construction stages are closely monitored, with buyers kept informed of progress. On completion, a thorough inspection ensures the home meets all standards before handing over the keys. This segment provides a comprehensive guide for listeners, demystifying the new build purchase process and emphasising the support available at each stage.

Benefits of Buying a New Build Home

The episode highlights several benefits of buying a new build home, with insights from Hazel and Kim. Hazel points out that new builds come with modern designs, energy efficiency, and low maintenance requirements, making them highly attractive to buyers. These homes often include the latest in technology and construction standards, which contribute to long-term cost savings and sustainability. Kim adds that new builds offer a blank canvas, allowing buyers to personalise their space from the outset. The peace of mind provided by warranties, such as the NHBC (National House Building Council) warranty, ensures that any structural issues will be addressed without additional cost to the buyer. Furthermore, incentives such as Help to Buy schemes can make new builds more accessible, particularly for first-time buyers.

Common Questions and Concerns from Prospective Buyers

Hazel and Kim discuss the typical enquiries they receive from prospective buyers, starting with questions about pricing and financing options. Hazel emphasises the importance of understanding the full cost of ownership, including potential additional costs like landscaping and interior upgrades. Kim notes that buyers often worry about the timeline and construction delays, assuring that reputable builders provide regular updates and realistic completion dates. Concerns about the buying process and legalities are also covered, with both guests highlighting the support available from sales advisors and solicitors throughout the journey. Additionally, questions about community amenities, resale value, and the long-term benefits of energy-efficient homes are addressed.

Tips and Advice for First-Time Buyers

For first-time buyers, Hazel and Kim offer practical tips and advice to navigate the new build buying process. Hazel advises starting with thorough research, including visiting multiple developments and consulting with mortgage advisors to understand financial options. She highlights the importance of budgeting for additional costs and being aware of the full scope of the purchase. Kim suggests engaging early with the sales team to gain insights into available incentives and customisation options. They both stress the significance of understanding the legal process, recommending buyers work closely with their solicitors to ensure all documents and contracts are clearly understood. First-time buyers are encouraged to ask questions and seek clarity on any aspect of the process they are uncertain about.

Investment Potential and Market Trends for New Build Homes in Scotland

Hazel and Kim delve into the investment potential and current market trends for new build homes in Scotland. Hazel discusses how new build properties tend to hold their value well and often appreciate due to the quality of construction and modern amenities. She mentions that the demand for new builds remains strong, driven by factors such as urbanisation and the desire for energy-efficient homes. Kim highlights specific trends, such as the increasing popularity of sustainable living and the incorporation of smart home technologies. They both note that new build developments are often strategically located in areas with growth potential, adding to their investment appeal. Additionally, the availability of government schemes to support new build purchases enhances their attractiveness to a broader range of buyers. This discussion provides listeners with a clear picture of why new build homes are a sound investment choice in the current Scottish property market.