Understanding your new property purchase

There are so many aspects involved in buying a new build home and it’s an exciting time. But it’s also crucial that you fully understand what’s involved and what to expect from your new home – particularly if you’re buying a home under construction that you can’t yet see.

Home builders under our Code are required to provide you with clear information covering the elements that may affect your decision to buy. But what may be obvious to someone working in the industry, may be less clear to those of us who don’t buy homes very often. If there’s anything you don’t understand, ask more questions and request that replies be put (or confirmed) in writing so you have a full record.

Here are some pointers to help you understand what to expect during the process and some important things to clarify along the way.

Clear and truthful information
Under the Code, your builder and any sales agent they use must give you clear, truthful and enough information so that you are fully informed in your decision-making throughout the purchase process.

The Code also states that information must be provided in plain English and free of jargon or technical terms. This includes any follow up conversations and correspondence you have with your builder, not just the promotional materials.

Understand the detail
This is particularly important if your new home is under construction, as sales brochures may be generic without the detail relating to your specific property. When buying off plan, ask your builder to explain the technical drawings and plans including any markings or notes indicating features such as gradient lines or the location of external services. Don’t be afraid to ask for clarification if something isn’t clear.

Extra support
Buying a property can be complex and a little daunting, especially if you are unfamiliar with the process. However, your builder is there to help and guide you and will talk you through all the details. If you need the information provided in a different format or extra help to understand the documents, let your builder know. It may also be useful to have a friend or family member with you during the discussions.

In writing
Ideally all conversations and matters agreed should be recorded in writing (an email may do), including verbal discussions in person or over the phone. Take your own notes during meetings and share these with your builder so that any misunderstandings can be quickly highlighted and resolved.

Outside space
Your property includes the garden area, boundary, fencing and curtilage which should all be covered during discussions with your builder. You should be made aware about any communal facilities or third party services that may affect your property or boundary and this includes any future construction phases that are planned for the development.

Expectations
You probably have a clear vision of your dream home so make sure your builder is aware of your expectations for the property at the outset. They should point out any aspects that may be unrealistic or which may have a material effect on your decision to buy, for example level access or overall location within the development.

Knowing what to expect and having a thorough understanding of your purchase will help ensure things run smoothly and avoid any problems down the line. Read all the materials, maintain good recordkeeping and don’t be afraid to ask lots of questions!