At Southern Housing New Homes all our homes, including those available for Open Market Sale, are new build.
Whether your first home or your moving along the property ladder, buying new build can bring a number of advantages compared to an older property including:
- Lower repair and maintenance costs
- Better safety and security
- More choice of properties
- More environmentally friendly
At Southern Housing New Homes you’re dealing with a company that has a long established reputation for quality. You can depend on our craftsmanship and commitment. The homes we build are desirable, stylish, practical, durable and eco-friendly. As a non-profit organisation, we reinvest all our money to benefit customers and stakeholders.
The environments we live in play a large part in shaping who we are. We immerse ourselves in the place we’ve chosen to live; the building itself, and the community we share it with. So it’s not surprising that these are the main things we’re interested in when we look to move home.
Southern Housing New Homes plans, develops and builds high-quality, desirable homes that bring together people and places to create diverse communities that thrive. As part of Southern Housing, we’re proud to reinvest every penny of our profits for the benefit of communities across London and the South East.
Open Market Sale FAQs
Open Market Sale is the traditional way of buying a property. Purchasing the entire property without any Shared Ownership or rental agreements. Whether you buy it outright or with a mortgage, you become the sole owner of the property (or co-owners if you buy it with someone else). There are no restrictions on how you use it.
The process of buying a new home typically involves: property search, mortgage application if you require financing, placing and negotiating an offer with the seller, appointing a solicitor to handle the legal aspects of the transaction, arranging a property survey, exchanging/signing sales contracts, and finally, on the agreed-upon completion date, you take possession of the property woohoo! With new build properties things can often move quickly, and you could be settled into your new home within eight weeks of your initial enquiry.
The deposit required for a property in the UK typically ranges from 5% to 20% of the property's purchase price. The exact amount depends on various factors, including your lender's policies and your financial situation.
A mortgage is a loan used to purchase a property. You borrow money from a lender to buy the home and then make regular mortgage payments, which include both the repayment of the loan principal as well as interest. The interest is the cost of borrowing money. Mortgages are usually repaid over a period of 15 to 30 years, depending on various factors.
Service charges for Open Market Sale properties vary depending on the development and what services are provided. Details are available on our individual property listings or provided by property management companies.
Your typical outgoings as a homeowner will include mortgage repayments (unless you purchased your home outright), any applicable service charges, property taxes such as council tax, home insurance, and utility bills including electricity, gas, water, Wi-Fi etc. We expect there will be a few new home décor items thrown into the mix as well!
A leasehold property means you have a long-standing lease agreement with a freeholder (landlord) for a specified period, often several decades. This agreement outlines your rights and responsibilities as a homeowner. Leaseholders typically pay ground rent and may also be subject to service charges.
The average time it takes to complete your Open Market Sale purchase will vary, but it can be as little as eight weeks. If the purchase involves a ‘property chain’ (when several buyers and sellers are all connected and dependent on one another for their home purchase to go through) the timeframe could be considerably longer
It’s advisable to have a property survey done, especially for older properties or properties with unique features. A survey helps assess the property's condition and can uncover potential issues that may affect your decision to purchase or negotiate the price.