New Year, New Home
Buying a new home is such an exciting time in your life. From deciding where you want to live and looking for your dream property, to making a reservation or offer.
Moving into a new build home is even more exciting, as you can personalise it so it’s in your own style. You can choose your plot and finishing touches like tiles, flooring and kitchen cupboards. Plus, a new build is a blank canvas for you to decorate exactly how you’d like!
Wondering what the process of buying a new build home involves? From making a reservation to getting the keys to your new home, here are eight simple steps to buying a Miller home…
Find your dream home
Whether you’ve driven past a development that caught your eye or are searching for your new home online, when you find something you like it’s always good to make an appointment to meet with the development sales manager to find out more about the area and homes available. At a first meeting they’ll show you everything from the site plan and the different house styles, to help you find the one that’s just right for you. You can look around the show home too.
Get a ‘Mortgage in Principle’
Whether you’re a first-time buyer or a mover, you’ll need to research mortgage providers and rates, and get a ‘Mortgage in Principle’ which proves to the seller that you can afford the property. Once you have this and your finances are in check, you’ll stand a better chance of being accepted to purchase the house, or can make a reservation if it’s a new build.
Reserve your home
Once you’ve found the home that you’d like to buy, after viewing it and making the all-important decision to go ahead with the purchase, and have your Mortgage in Principle in place, reserve it before someone else does! Reserving your chosen home is really easy and can be done from the comfort of your sofa, at a time that suits you. Visit the Online Reservation page, make your reservation, and then you’ll be asked to pay a reservation fee (which will be deducted from the purchase price). By reserving the property, the sales team will freeze the price of the home, and take it off the market. If you prefer, you can make your reservation in person at your chosen development’s sales centre.
Assign a solicitor
You need a solicitor to handle the legalities of the purchase for you. It’s a good idea to ask around and do your research before assigning a solicitor; whether it’s by outreaching to friends or family, or asking the Miller Homes sales team to share their recommendations, it’s your solicitor who will be leading on the completion of the sale so it’s important to get this right. Ask for a written estimate of all of the fees involved, which should include conveyancing, searches, land registry fees, Stamp Duty and VAT, so you have an idea of the total costs involved as part of your moving budget.
Sell your current property
If you’re selling your existing property, you’ll need to appoint an estate agent to handle the sale. This will involve getting your property valued, deciding on the price of the sale, preparing the property and getting all of the paperwork in order before it goes on the market. We have an Assisted Move scheme to help make the process as smooth as possible for you as another option. The scheme takes some of the stress and cost out of selling your property including a free valuation and expert help to get your home sold.
Exchange contracts and pay a deposit
Once your solicitor is assigned and has carried out the legal responsibilities and checks, you’ll pay the agreed deposit and exchange contracts. The exchanging of contracts is when the transaction of the property becomes legally binding, taking you one step closer to buying your dream home!
Finishing touches
If the property is not yet built, or partially built, the developer will complete the build and once the painters are in, a week of completion should be confirmed (providing the gas, electricity and water are connected on schedule). Whilst waiting on the week or day of completion, think about other aspects of the move and try and be as organised as possible. Consider booking a removals company, think about packing, diverting post and even start looking at the best home insurance and utility providers. Move in day will come around in no time!
Move in day
When the final date is narrowed down and confirmed, the Miller Homes sales team will work with your solicitor to arrange the full legal transfer of ownership – and then the house is yours! Before you get the keys, your solicitor will arrange for the rest of the funds to be paid to the developer, then all that’s left is getting the keys to your new home, moving in and popping that well-deserved bottle of champagne.
Looking to move to a new home in 2021? Find out more about our developments in your area.