Buying a new home is truly one of the most exciting milestones, made even more exciting when you’re purchasing a brand-new build. So, you’ve chosen your builder, explored the developments and have picked out the perfect spot for your dream home – what’s next?
While timelines can always vary depending on the circumstances and build stage, purchasing your new build is designed to feel clear and supportive from day one.
Day 1: Reserving Your New Build
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- If you’ve got your eye on a Beal home, you will start your journey by speaking to an independent panel of financial advisers who will green light you for the purchase of a new home.
- Next, you’ll appoint a solicitor of your choice, who will help to guide you through the legal process.
- If you’ve sold your property and are in a chain, you will need to show your Memorandum of Sale before proceeding.
- Once you’ve qualified, it gets exciting! You can reserve your chosen plot and pay your reservation fee.
Weeks 1 – 6: Exchange Contracts
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- Your chosen solicitor will begin carrying out legal checks on your behalf, such as the initial Client Care Documentation, applying for Searches with the Local Authorities, and raising/answering any enquiries you may have.
- Begin your mortgage application, submit your supporting documents and finalise your application before getting that all-important mortgage offer.
- Pay your deposit.
- Exchange contracts to commit to the property purchase, legally.
Weeks 6 – 10: Finalising Your New Build Purchase
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- The build time can range from a few months to 12 months or more, depending on the build stage at reservation, but don’t worry, our friendly team will update you every week on the progress of your new home.
- Review key contract details, including completion terms and timelines.
Pre-Completion: Getting Ready
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- Receive your notice to complete, outlining the completion date.
- Ensure your mortgage funds are in place, ready to be transferred.
- Conduct any pre-completion checks and final paperwork with your solicitor.
Completion Day
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- Your independent solicitor will finalise the purchase, and the remaining funds will be transferred, and a time will be arranged for you to pick up your keys!
We understand that the process of buying a new home is full of joy and excitement, but that doesn’t mean it comes without trepidation. So, if you’re unsure or a little nervous about what happens next, don’t worry. In this step-by-step timeline, we’ll take you through what happens after you reserve a new build home, from paying your deposit to seeing your new build for the first time and of course picking up those all-important keys. Whether you’re a first-time buyer or moving onwards and upwards on the property ladder, this is your complete step-by-step guide to what happens after reservation.
Step One: After You Reserve a New Build Home: The Reservation Deposit
Before you select your plot, the first step you’ll take towards owning your Beal Home is chatting with one of our independent financial advisors. It’s free and fully confidential. An independent panel of financial advisors will help you understand if buying a Beal Home is financially feasible. Once finances are approved, you’ll be able to start browsing for the ideal plot for your new home.
Once you’ve selected the perfect plot for your new home, you will need to pay a deposit. If you’ve got an area in mind or have seen a certain plot that has caught your attention, it’s a good idea to use our Help for Buyers Early Bird Scheme.
Securing your dream home with our Early Bird reservation scheme couldn’t be easier. It offers you the opportunity to reserve a plot before it even goes on sale. You’ll pay a fully refundable deposit of £150. When the plot you’ve had your eye on goes on sale, our team will get in touch and offer you first refusal, the early bird really does catch the worm. Without the Early Bird Scheme, the standard reservation fee is £750. The standard reservation period usually lasts 28 days.
Step Two: Appoint a Solicitor
Once your reservation is in place, you’ll want to appoint a solicitor. The solicitor you choose will oversee all the aspects of your new home purchase, so it’s a good idea to opt for someone who has familiarity with new build homes. We have our own panel of independent solicitors we can recommend if you don’t already have one, or are struggling to find the right solicitor. Your solicitor will:
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- Aid in drafting contracts and managing all stages of the exchange.
- Conduct local authority, environmental and weather searches.
- Help you in dealing with HM Land Registry and paying your Stamp Duty.
- Help you to consult with mortgage lenders.
- Offer generalised help and advice throughout the legal process.
At Beal Homes, we have our own panel of independent solicitors we can recommend if you don’t already have your own.
Step Three: Submit a Full Mortgage Application
Now that your reservation agreement has been signed, you’ll need to apply for a mortgage. While this, for many, is the most daunting step of the process, your solicitor will be able to help you every step of the way.
To help this stage go smoothly:
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- Apply for a mortgage as quickly as possible to get the ball rolling.
- Ensure you have all the required documents ready to submit for approval.
- Your lender will arrange a valuation survey with your dedicated sales executive: the lender will then confirm the property’s value.
- Check the Beal Homes Help for Buyers schemes.
Beal Homes offers a range of schemes to help you make your move into a Beal Home as stress-free as possible.
Smooth Move: Smooth Move offers buyers a simple 5-step process to help you sell your current property and purchase your new Beal new build with minimal fuss. We even cover your estate agent’s fees and marketing costs!
Launch Pad: Launch Pad is exclusively for first-time buyers, helping to make your first-ever home purchase extra special. It offers first-time buyers up to £5000 to spend on upgrades and extras in our Design Lounge, as well as up to £1000 towards your legal fees.
Part Exchange: This scheme is ideal for those who already own their own home but are looking to move up the property ladder. Rather than stress over finding a buyer for your old home, you can trade the value of the property against your Beal dream home.
Whether you’re buying for the first time or trying to sell your old property, if you’re interested in buyer support and incentives, visit our Help for Buyers page to find out more.
Step Four: Visit Beal Home’s Design Lounge
The next step – we think, is one of the most exciting, depending on the stage of your build, you’ll be invited to our Design Lounge.
In our Design Lounge, you’ll work
with a team of experts to truly make your new house a home. You’ll be able to select and personalise finishes, fixtures and upgrades to suit your taste and lifestyle.
Before you visit the Design Lounge, we recommend looking at some inspiration beforehand. Whether that’s on Pinterest or on our Beal Homes Instagram. Get inspired and see how other Beal buyers have personalised their homes.
While the aesthetics are undoubtedly important, we’ll also consider functionality. How can we shape your Beal home around you? Think about your current home, what works for you and what doesn’t? Do you need custom-built-in wardrobes to keep your growing collection of shoes out of sight? Or do you need a media wall to proudly display all your family photos? We’re all different – but at Beal Homes, we will ensure your new build works for you.
Step 5: Exchange of Contracts
Next, it’s time to exchange contracts. The Beal Homes team and your solicitor of choice will be on hand to help; this is the time when the purchase becomes legally binding. You’ll pay your deposit (typically between 10% and 30% of the property’s value), then a completion date will be given.
Step Six: Home Demonstration with Beal Homes
Next, we’ll agree on a date for you to come and see your home for the first time! You’ll also get the opportunity to attend a Home Demonstration with a dedicated member of the Beal Customer Care team.
We want you to feel comfortable in your new home from day one, and so it’s important to us that you feel confident in how to operate your new appliances, from the hot water and heating systems, down to the security alarm system.
Remember, we’re here to help! Ask any questions you may have, even if they feel a little silly. (Trust us, we’ve heard them all!) You will also receive a personalised home manual containing your appliance guides, guarantees and warranties. So, make sure you put it somewhere safe on moving day!
As a House Builders Federation 5 Star housebuilder for 6 years running, we’re certain that you’ll love the quality of your new build, but if you’re uncertain about anything at all, do ask away!
Now, a legal completion handover date will be agreed upon with you and your advisor. This is the stage when it starts to feel very, very real!
Step Seven: Pay the Remaining Balance
Now your home is all ready, and your new chapter awaits! The remaining balance on your home will be paid, and legal completion takes place, simply meaning you get those all-important keys! Our sales team will be on hand to give you a tour of your new home, so you can see how all your dreams from the Design Lounge have come to life.
Step Eight: Stay in Touch
Just because the keys have been handed over doesn’t mean your Beal Homes journey is complete. Our dedicated customer service team is available to support you in your transition or answer any queries you may have. We’re here to support you every step of the way.
With every Beal home, we also offer:
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- A 2-year builders’ warranty: for two years following the handover, we’ll be on hand to assist with remediating any possible defects.
- A NHBC 10 Year Buildmark Warranty: If any major issues arise with your new build, you can rest assured with a 10-year warranty, valid from the date of completion.
Step Nine: Moving Day!
Finally, the time has come to load up the moving van and move into your brand-new home. While we won’t be on hand to help you unpack, we have compiled some tips and tricks to make moving as stress-free as possible.
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- Book the moving van early and try to avoid weekends and school holidays where possible.
- Pack and unpack by room. This way, you can take boxes holding kitchen supplies into the kitchen right away. This makes unpacking smoother and reduces the risk of having to scale a wall of boxes every time you enter your new home.
- Wrap your furniture in blankets to prevent it from getting knocked or scratched in transit.
- Pack a survival kit of things you might need right away, such as chargers, toilet roll and tea bags. This helps you avoid frantically ripping into your neatly packed boxes while your phone is on 1% or you’re gasping for a cuppa. -Lastly, stay calm. Things don’t always go to plan on moving day, and it can certainly be stressful, but once the unpacking is done, you can start making amazing memories in your beautiful new Beal home.
Final Thoughts
From reservation to moving day: Beal Homes will be on hand every step of the way to ensure a smooth, stress-free experience, from our help-to-buy schemes right down to personalised fixtures and fittings. If you have any further questions about what happens after you reserve a New Build Home, or want to start your home-buying journey, get in touch with our friendly team.
We pride ourselves on our bespoke design, high-quality construction, and first-rate customer service. If you’re ready to reserve your plot, check out our developments. Alternatively, check out our help for buyers’ option to see how we can help you make your dream home become a reality.
FAQs
What to Consider When Choosing a New Build Plot?
When choosing a plot for your new home, consider the location. Ensure it is commutable for work or school and has convenient transport links.
Do You Pay Stamp Duty on New Builds?
Yes, on new builds you pay Stamp Duty Land Tax, but only when the purchase price of your new build exceeds the current threshold of £125,000.
How Long Does It Take to Reserve a New Build?
Once a plot has been released there is typically a 48-hour decision period.
When Do You Exchange Contracts for a New Build?
After the reservation fee has been paid for your plot, it typically takes 28 days to exchange contracts.
Do I Need Insurance on a New Build Home?
While a Beal Homes new build comes with a 2-year builders’ warranty and a NHBC 10 Year Buildmark Warranty, you should still get buildings insurance and contents insurance to further protect your home and belongings.
How Much Does It Cost to Reserve a New Build Plot?
The reservation fee to reserve a Beal Homes new build plot is typically £750.
What Happens on Completion Day for a New Build?
On completion day for a new build is when you pick up your keys! The remaining balance will be transferred, and our sales team will give you a walk-through of your brand-new home.