What to expect when buying a new build
What is a Housing Association?
Housing associations provide homes and support for almost six million people around England. They offer social homes, shared ownership homes, some homes to rent and buy outright, and essential supported and specialist housing.
They also invest in community services and regeneration, provide support to vulnerable people, and reinvest all their income into delivering their social purpose.
Buying a new home with Southern Housing
When you buy a home with Southern Housing, your new property will either be one we’ve built ourselves or one we’ve purchased from a trusted private developer.
Most of our new build homes are available to reserve off-plan, which means you’re committing to buy a home that is still under construction. This is a common way to buy a new home and allows you to secure your preferred plot early.
You may not be able to view the inside of your specific home before legal exchange of contracts. However, where possible, we offer access to a show home, depending on site access and safety.
Before you reserve, you’ll receive detailed information including:
- Floor plans
- Development brochures
- A full price list
Our friendly Sales team are always available to guide you through the process and answer any questions you may have about buying your new home with Shared Ownership or outright sale.
Things to consider when buying off plan
When you commit to reserving one of our homes, you are committing to legally exchanging contracts on the home within 30 days of reservation. If the home is fully built, then you’ll be able to arrange a completion day straight away but if the home is still under construction, then you will exchange contracts with completion on notice. This means that once we take handover of the homes from the developer, you will be given 10 working days to complete (move in). This notice is given regardless of any notice period you may have on your current home, so you’ll need to bear this in mind when estimating costs for your purchase.
Because a completion date is never certain even when your property is fully constructed, you must not order any furniture or arrange any deliveries until after you have moved in. We cannot allow access to the property for any deliveries/storage prior to the day of completion.
Construction delays
Construction delays in newly built homes are relatively common. Various factors can cause these delays – waiting for utility connections, material hold-ups, or procedural steps in registration and sign off. We will always provide you with an estimated date of completion but as the homes are still under construction, this can change.
When you reserve a home off plan, your sales executive and sales progressor will keep you up to date with progress on site. If there are likely to be any delays, we will tell you.
Navigating notice periods on rental tenancies can be tricky. Never end a tenancy without a confirmed completion date. You could risk not having a place to stay if your new home isn’t ready. Some notice periods can stretch up to two months, potentially overlapping with your new home's rent or mortgage payments. Always ensure you have adequate funds to cover both and engage in open communication with your landlord. They might even agree to a shorter notice period if you approach the situation delicately.
Most mortgage offers are valid for six months. If completion is delayed, then you may need to extend your mortgage offer or re-apply for a new mortgage. This can incur extra costs and should be discussed with your mortgage advisor. Many lenders will agree to extend a mortgage offer once, but it’s essential to address it promptly.