Purchasing a new build home in Bournemouth comes with many advantages. All new build properties come with a nationally recognised 10 year building warranty, giving you peace of mind. All new homes are built to meet the latest building specifications and energy efficiency standards, so it will be cost effective to run and you will be less likely to encoutner major and costly repairs in the initial years.
Take the opportunity when buying a new build home ‘off plan’ to create a bespoke, personalised design to suit your needs.
With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
If you are saving to buy your first home, save money into a Help to Buy: ISA and the Government will boost your savings by 25%. So, for every £200 you save, receive a government bonus of £50. The maximum government bonus you can receive is £3,000.
If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.
New homes are also traditionally easier to purchase as there is no forward chain to have to consider which allows the buying process to move quickly.