Why buy a new build home in Hampshire?
Whether you purchase antique houses or new houses depends largely on personal preference. While some people favour older detached homes with distinctive historical personalities, others favour brand-new homes that require less upkeep. In this part of the article, we provide some detailed information on buying a new build home in Hampshire as opposed to an older one.
Low maintenance expenses are a big financial advantage of buying new homes. Buying a new home may give you years of worry-free living thanks to its contemporary plumbing, appliances, heating, and air conditioning. New homes are designed to require less upkeep and maintenance since they are constructed in line with the most recent building norms and safety regulations. You won’t have to spend as much time making repairs and updating an existing home because you won’t have as much to worry about and won’t have as many unforeseen out-of-pocket expenses after moving in.
Input on design
With new homes, you frequently have the option to customise the flooring, colour scheme, fixtures, and other features. You can start living in a minimal-maintenance new home right away without having to invest time and money in renovating your Hampshire home. This may also increase the value of the property and when it comes the time for it to be listed for sale, you may end up receiving higher offers on the exchange.
You may find that many pre-owned homes can be dark and boxy, often leading you through a maze of cramped rooms where you’ll want to knock down every wall. Buying new homes, on the other hand, immediately feel airy and welcome as you enter the front door. Many new homes feature towering ceilings that create a sense of space you can’t necessarily find in an existing home, often with an open floor plan.
New homes are a terrific option for home purchasers who want to move in worry-free with only their bags, regardless of whether you’re on a rigorous timetable or on a limited budget. You can be sure that everything has been updated, your plumbing will function, and there won’t be any foundation issues that need to be corrected before you can move into a new home.
Similar to when you buy a new car, buying new homes and everything inside of them frequently come with warranties. By knowing that the builder will pay for any problems that arise within the guarantee period, like a leaky roof or a broken water heater, you are buying with confidence. Buying a pre-owned home, on the other hand, may have hidden flaws or problems that you are unaware of until after you’ve completed the purchase, at which point you’re stuck paying for them. The 10-year warranty helps to protect you from significant structural flaws in your house and is included with the new-build. A warranty not only gives you peace of mind but also delivers significant financial savings should any issues arise throughout the coverage’s duration.
Modern new construction is done to a much higher standard and must meet minimal requirements for energy efficiency. When purchasing a new home, you should keep rising energy expenses in mind since it could end up saving you money over the long haul. Overall, new build homes are much less expensive to maintain and will significantly lower your family’s carbon footprint. Although an older home can have some components retrofitted to increase energy efficiency, doing so is frequently expensive. Additionally, new homes often have superior air filtration, which raises indoor air quality and lessens allergy and asthma symptoms.
When buying a new home, there are frequently greater discounts available. With the government’s Help to Buy equity loan programme, for instance, buyers can purchase with as little as a 5% deposit.
Higher degrees of security are included with new residences. Most home builders either pre-wire for an alarm system or include one as standard equipment. These types of actions can assist in lowering the price of your buildings and contents insurance.
Modern homes are constructed to high safety requirements using the most up-to-date materials that are fire resistant and technology that connects them to smoke alarms. Additionally, certain spaces must have windows that open wide enough to provide an escape in the case of a fire. The newest designs, security, safety, and quality are available in new homes. They offer a carefree way of living so you can enjoy your house instead of working on it.
How long does it take to build a new home?
A brand-new home will typically take 6 months to build in Hampshire. The length of time needed for each stage of the new build can vary based on the specific specifications of your home and land design. It might, however, be as short as four months or as long as twelve months. You may expect a pre-designed house to take about 4-6 months, however custom designs can take up to 10–16 months. New homes built in an urban location can often take around 5-7 months to build, while a house in a rural area takes a little longer – 6–9 months.
Every new build is constructed using the same basic six steps. These phases enable the building to be finished quickly:
The first step in the construction process is preparing the land for construction. This includes performing soil tests, moving the earth, and removing rubbish, plants, and trees.
The second stage, known as the “slab stage,” is where your design is measured out on the job site. Your foundation slab is poured after all of the necessary diggings, setup, etc have been completed. Typically, it takes 1-2 weeks to finish this.
The “Frame Stage” follows, where the external and internal wall construction starts on the new house. Without any delays, this can typically take 3 to 4 weeks.
The “Lock Up Stage” is when all of the piping, wiring, plasterboard, eave sheeting, porch, and patio ceiling installations are finished. To physically “close up” your house, external walls will be rendered, and all exterior doors and windows will be installed. This phase lasts four to six weeks.
The “Practical Completion Stage” is the last stage in the building process. The finishing touches, such as paint, fencing, landscaping, irrigation, flooring, glass, fly screens, letterboxes, etc., are completed at this time. After this is finished, all rubbish is taken off the property, and the house is thoroughly cleaned in preparation for the last inspection before handover. If anything needs to be fixed before handover, this final step could take as little as 6 weeks or as much as 8 weeks, if not more.
Buying homes to rent in Hampshire
You will require a buy-to-let mortgage if you intend to rent out your new home. There may be requirements to qualify for a buy-to-let mortgage in Hampshire because many lenders view them as carrying a higher risk. These frequently vary from one lender to another and could consist of the following:
– Your Hampshire home must already be yours, whether you own it outright or have a mortgage on it, as required by your lender. You ought to have a solid credit history and not be overextended with your previous borrowings, such as credit cards.
– You might be required to show proof of income from a job or from a self-employed source distinct from rental revenue. This usually amounts to more than £25,000 each year. If your income is lower than this, you might have trouble getting a buy-to-let mortgage approved from some lenders.
– Lenders typically have a maximum age requirement of 75 years old, while certain lenders may have lower age restrictions.
– The maximum loan amount is determined by the monthly rent you now get or anticipate receiving. Your rental income should be enough to pay off your mortgage in full.
What is buy-to-let?
Buy-to-let mortgages in Hampshire are very similar to regular mortgages, however, there are some important differences:
– Buy-to-let mortgage interest rates are usually higher than normal mortgage interest rates for buying new homes.
– Although it can range from 20 to 40%, the minimum deposit for a buy-to-let mortgage is often 25% of the property’s worth.
– The majority of buy-to-let loans are interest-only. As a result, you only pay the interest each month and not the capital. You pay back the initial loan in full at the conclusion of the mortgage period.
– The Financial Conduct Authority does not regulate the majority of buy-to-let mortgage lending (FCA).
– There are a few exceptions, such as if you want to rent out the property to a close relative (e.g. spouse, civil partner, child, grandparent, parent, or sibling). These loans, also known as consumer buy-to-let mortgages, are evaluated in accordance with the same stringent affordability guidelines as a home loan.
Why you should buy your Hampshire property from us
A number of residential new builds, and commercial modifications, such as extensions, loft conversions, garden rooms, and renovations, were designed and built with our expertise around the Hampshire area. We take great pride in having a reputation for offering unmatched customer service, which is just one of the many reasons why so many of our customers refer us to their friends and family.
Our special method is built fully around your requirements. From the initial concept of your project through the build and completion, right down to the final coat of paint, you can choose our team to project manage the entire process. Or you can pick the services that work best for you. You are able to make educated selections at every point thanks to the straightforward tiered process.
We can help with all construction, factory work, large home extensions, school renovations, factory renovations, home renovations, warehouse conversions, one-off builds, office overhauls, and many more of the latest developments available in Hampshire.
The benefits of renovating your Hampshire homes or businesses
Hiring a professional contractor in Hampshire is beneficial whether you are renovating old homes/office spaces or new homes/offices that you have recently purchased. Before you start the renovation job, decide what you want and create a reasonable budget.
Boost the efficiency of your home or place of business
Remodelling your home or place of business lets you personalise it to suit your tastes and requirements. It’s a great chance to make the area cosy while also making it more practical and fun. When it comes to bespoke renovations, there are a wide range of options available, like building a home theatre, upgrading a bathroom, finishing your basement, rearranging your offices, and more. Working with a specialist like Chartwell Developments can help you reduce your options and get the best outcomes within your price range.
Boost the value of your property
Chartwell Developments can help you boost the value of your home or workplace in the form of remodelling, extending or converting.By improving the practicality of your office space, and updating your bedrooms, floors, and other factors, you can increase the total worth of your house or place of business.
Reduce your energy expenses
You have a fantastic opportunity to make your property more energy-efficient and reduce your electricity costs by remodeling your home or place of business. Changing your lightbulbs and purchasing new appliances can help. To assist regulate temperature, you might also insulate the walls.
Renovations are a great option to add more space if you feel that your home or place of business is too tiny. You can use this for whatever you’d like, from an extra bedroom for your family/friends to more meeting space for your staff.
A shift in style
Renovation might help if you believe that your home or place of business needs new upgrades and isn’t as current as you’d like. To come up with the ideal strategy, all you have to do is decide what you want and talk about it with us.
What is involved in buying commercial conversions?
Commercial properties can be converted into a number of things you would like them to be. One of the most popular things to do is to convert your commercial space into a residential space.
Even if it appears straightforward at first, you must still be careful to perform it correctly. Before relocating to a house with a distinctive design, there are a few things you must take. Before thinking about this, you should be aware of the following:
Have you been granted permission to build new additions to your property?
The regulations governing the conversion of commercial facilities into homes are regulated by each county government. If a council wants to revitalise a specific neighbourhood, they might support this kind of conversion. You should first speak with Hampshire council.
Entire office buildings remain vacant as more people choose to work home. This, together with the downturn in local and high street from retail, means that hundreds of fantastic homes around the country are still vacant and ready for conversion from commercial to residential use. Get in contact with us right away to learn more about how we can assist you if you have your eye on a commercial property for development.