Three challenges faced when representing a Developer for new build homes that are stale listings:

Representing the Developer for the sale of new build homes creates many challenges

as the estate agent never mind if they have been on the market for an extended period of time before listing them after another agent. For the last 12 months I have worked with a couple of projects of which presented very different challenges whilst navigating the sales and purchase process. Understanding what is required as a potential buyer, time delays and potential pitfalls before you commit, could alleviate stress, save time and money.

Navigating the Completion certificate process

This certificate is crucial for various reasons, including buying and selling the property, obtaining insurance, and future renovations. 

For anyone buying a new build home a Completion certificates is the document that is issued by the local council to confirm they are happy that the build work has been completed in accordance with the relevant building regulations. It demonstrates that the work has been inspected by a building control body and deemed compliant with safety, structural integrity, and other standards. This process takes time, patience, team work and lots of communication, coordination, planning and preparation from everyone involved.

Once the completion certificate is issued, a building warranty can then be issued (if the developer has committed to do so). Some do, some don't, be aware most lenders will look for a 10 year minimum warranty. You can put a retrospective warranty in place if still within a certain timescale to ensure any potential structural defects are covered, however this can be costly.

Sustainable homes and EPC ratings

This is a fascinating topic because my experience is that most potential buyers want sustainability but do not want to incur the additional cost that comes with it. To me this also mirrors in many different industries where costs are king and the targets set Nationally and wider afield are gargantuan unless collectively, the majority work in the same direction.

Potential buyers are sometimes uncertain about the different options and in some cases uneducated to the pros and cons in comparison to what they have been used to for a lifetime. Not unusual in this ever changing world.

In the end it comes down to what is a priority for them and budget. With a new government, a fluctuation in interest rates plus stock market fluctuation over the past 12 months many buyers at the price point of the market I work in, have chosen to play safe and go for what they know. The buyers that see value in sustainability are still in the minority in my experience and will be interesting to watch over the months and years to come.

Open concept living

Open plan living within the key living spaces has become more of the norm as opposed to the separate kitchen, living and dining areas we have experienced for decades. It definitely creates a feeling of more space, allows more connection whether that be with family or visitors whilst entertaining or preparing meals, more light and flow within living spaces. The downside? Noise levels are higher across the living spaces, if you are not confident in the kitchen this can add additional pressure whilst everyone can see what you are doing and from a tidiness perspective, there is little or no place to hide clutter. Some potential buyers have not bought because there are no longer separate living spaces to watch tv and dine for the family and that is still their preference.

So, is it for everyone? Nope. Space in general is lacking in new build homes, even with the open living concept from my experience after visiting many this year is that most agents don't advertise the m2 or sqft because they know potential buyers will be put off.

We don't know what we don't know until we do. If you are considering a new build make sure you know the size of your current property and consider the pros and cons of moving from a more traditional layout to open concept living. I personally do like it in some ways but not others and so would possibly keep with what I know.