New Homes for Sale

You may even be offered financial incentives to purchase the property by the developer, especially the earlier you buy. After all the relevant paperwork and surveys have taken place, it's simply a matter of waiting for the completion date of the new home. 

Yet, just to make sure you know what you're buying, you'll be looking at the floorplan, similar properties online plus other resources and documentation. You'll be talking to the estate agent as well as the housebuilder, you'll be given every kind of information so you have as clear a picture as possible of what your new home will really be like. 

It's not just the individual new houses that are striking and full of character. You'll find the surroundings of the new home development in every kind of setting, which itself lends so much personality to each individual home. New house architecture has come a long way in recent years and is developing all the time. Building character into each and every home is something you'll find all the major housebuilders believe is an integral aspect to the work they do. 

As every major housebuilder is building new homes, so with each new property development there are usually some, many, or all of properties available through Help to Buy. Depending on the specific criteria of each Help to Buy initiative, whether it's through Shared Ownership, mortgage guarantee or another scheme, you can usually find a new house available to purchase through Help to Buy in almost every property development in every part of the country. 

First of all, you may need a larger deposit. For a residential property you're moving into yourself, you can often find mortgage deals which require just putting down a 5 or 10% deposit. For a buy-to-let mortgage you can be asked for a 25% deposit or even more. At the same time, if you shop around you could get a deal with just a 15% mortgage but, as said, in general be prepared to pay more.

Remember as well that with a buy-to-let mortgage the amount you're allowed to borrow is based on your future rental income forecast rather than your present personal income. You'll also need to have a very good credit history and, usually, own your home. Since a buy-to-let mortgage is seen as a bigger risk than residential mortgages, you can also expect to pay a higher interest rate. Any fees charged as well are normally higher than for other mortgages.

Another consideration when buying a new-build for buy-to-let is knowing if you're allowed to rent the property out once it’s bought. For instance, if you're buying through certain government schemes, it's often a case that the property can't be rented out afterwards. Ask your estate agent or housebuilder when first making enquiries.
New build properties are very popular for buy-to-let since they can command a higher weekly or monthly rent. Hiring a financial advisor or mortgage broker can also be a wise move if this is your first time purchasing a new home for buy-to-let.

With a landlord being able to charge more rent for a new home, it means that any financial spend will be recouped sooner than would be with second-hand homes. New build homes are also in very high demand due to their location or other specific features they have. The price of a new house can rise significantly even before the property has been completed. There are countless other reasons why buying a new home is not just a wise move in itself, but a wise investment that can pay off for you in the future.