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Buying a new build flat

5 replies

Minimini0001 · 20/02/2025 10:57

Hi I'm considering buying a new build flat in SW19. Is there anything I need to consider before making an offer? I'm just used to living in a modern house - High energy efficiency and a good sound proof - and yes I know the service charge would be evil and there would be a short time depreciation of the value but I'm buying to live in it. Any advice would be appreciated. Thanks in advance,

OP posts:
Advocodo · 20/02/2025 11:52

I always remember someone saying to me from an estate agent via a friend that ‘to buy in a small development which means when you sell there aren’t other flats you are competing with for buyers’.

MotherOfRatios · 20/02/2025 12:01

who is the management company?
lease length and ground rent?
does it have amenities, lift etc

Meadowfinch · 20/02/2025 12:03

Allocated parking or on-street? Local council parking permits?

JimHalpertsWife · 20/02/2025 12:03

Service charges. Have they said how much they are? If new build I suppose they won't rinse you for a new roof in a years time or whatever, but they will expect you to be contributing towards sinking funds for future replacements of roof / lifts etc.

Sometimes defects can become known long after the build is complete - a colleague has lived in a new build flat for 8 years, and the last two they have all been in talks with the managing agent as it turns out none of the balconies are compliant and all need replacing - a cost which will likely fall onto the leaseholders who own the flats

MinnieMountain · 21/02/2025 05:48

Don’t worry about the ground rent. All new leases have to be a peppercorn (nil).

What’s the parking situation? Lots of new developments in London have a planning condition that you can’t even apply for a permit within the borough.

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