Ways to buy a new home

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One of the advantages of buying a newly built home is that you’re dealing directly with a company and not an individual owner. So you’ll often find that you’re offered incentives and special arrangements which aren’t available when you buy an older property. These special deals can really take the stress and strain out of what could otherwise be a fraught and anxiety-filled time.

Part Exchange

Some building companies offer you the opportunity to sell your existing home to them at the same time you buy your new property. This makes the whole process very simple, since it bypasses all the usual hassles of selling a property through an estate agent. When you use a part-exchange scheme you’ll be a guaranteed a buyer for your home with no risk of the sale falling through at the last minute: you can relax and start planning your move.

Obviously, part-exchange deals are only available to people who already own a home. Before you commit yourself to any part-exchange arrangement, do make sure that you understand the terms and conditions of the contract and are happy to abide by them.

Cashback

This is a method used by builders to attract customers who are otherwise unsure about buying a new property, and it’s one which can make all the difference to your finances. Sign up for one of these incentives and you’ll receive a lump sum towards your deposit and house-moving expenses, usually paid through your solicitor when your mortgage completes. Cashback deals can be worth up to 5% of your new home’s purchase price, a bonus which is definitely worth having.

Help With Your Sale

Being stuck in a chain is a common reason for property purchases to move with excruciating slowness or even fall through entirely. So building companies have a vested interest in making it as easy as possible for you to sell your current home. Many will arrange for your property to be valued and marketed through an estate agent as a priority case, free of charge. If your builder suggests helping you in this way you should certainly give the idea serious consideration, as it could well save you a lot of time and expense.

Your home may be repossessed if you do not keep up repayments on your mortgage.