Step by Step Guide to Buying a New Home

Buying a new home can be the most exciting purchase you’ll ever make, but it can often be a daunting process with unfamiliar legal steps you must follow.

There are countless advantages of purchasing a new-build over an older home: top-spec new build homes like Stephen homes at Chapelton have the latest technology, lower bills and beautiful cottage style interior design.

You might be wondering what process you need to follow, from deciding if buying a home is right for now, all the way through to settling up with your solicitor and conveyancer. This handy guide will explain the steps involved in buying a new-build home, all in one place.


Step 1: Determine your budget and get funds in place

How much do you want to spend and how much deposit can you afford? The first step in the process is getting all of your funds in place. You should speak to a mortgage adviser to you know how much you will be able to borrow from a lender for your new build home. There are also various online mortgage calculators that will guide you and they take less than ten minutes to complete.

It can be a good idea to get a mortgage agreement in principle from a lender before you progress any further. A mortgage in principle from a lender will show how much you will be able to borrow based on your income. Once completed, you can take it with you to the developer to show that you are able to afford that property.


Step 2: Location, location, location

The most exciting part is here – finding the perfect location and new-build home for you and your family. The first step is to search for a development that you can see yourself feeling at home in. When you are doing this, you can research the facilities and local area to make sure it’s perfect for you.

It’s also important to find the right style of new home for you. Buying a new build home doesn’t mean all white walls and no room for personalisation. Just take the beautiful Places for People homes at Chapelton as an example, character homes with period features and wood burning stoves as standard.

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Places for People at Chapelton

If you enjoy stretching your legs and going for local walks, be sure to ask about the landscape plan so you know there’ll be enough green space for you. This is something we don’t run short of in Chapelton with our very own trail – tracks along the Causeymounth and Elsick House are on offer to those who like countryside walks.

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Chapelton Community

As soon as you find a new development that feels right for what you need, you can now go on a tour of a show home or marketing suite.


Step 3: Making an offer and get it accepted

Once you are confident that you’ve found the perfect home, you can make an offer and pay a reservation fee. This usually ranges from £500 upwards and will be deducted from the final purchase price when the sale is complete.

Do remember that even though you have made an offer, the house sale is not final until you exchange contracts later in the process. This will be the final step of the process and will need be completed using your solicitor.

Once you’ve made an offer on the property, the developer should take the property off the market. You can ask them to do so if they haven’t.

Step 4: Appoint a conveyancing solicitor

Just like any other new house purchase, there are legal requirements that you need a conveyancing solicitor to take look after. Some developments can suggest or a solicitor to you, but you are more than welcome to choose your own if you’d prefer to do so. They will look after different aspects of the sale, to make sure that all parties can progress without any issues.

Your deposit will be paid to your solicitor and they will negotiate a date you can enter the property and manage the funds to purchase the property.

Step 5: Mortgage application

You’ve chosen your beautiful new-build home and the end of the process is in sight. It’s time to finally secure your mortgage and send a formal letter from a lender to your development.

Your mortgage lender will also send a surveyor to carry out a formal valuation before you can move into the property.

Step 6: Contract exchange    

When you buy a new-build home, exchanging contracts with the seller means you become legally committed to buying that property and they must sell it to you.

This usually happens up to several months before you move into your new build home and before you do it, you will need to agree a completion date, usually this is several weeks after the exchange.

Be sure to take out buildings insurance at this stage because the home is now yours.

Step 7: Completion

Finally, you will pay your deposit and stamp duty (LBBT) to your solicitor, and they will send you a statement covering their fees.

Happy new home!

Are you looking for a new build home near Aberdeen?

Chapelton is much more than a new housing development. It is a long-term vision to create a new sustainable town, comprising 8,000 homes and an equal number of job spaces, as well as all the amenities you would expect.

With open green spaces, local shops and close-knit neighbourhood squares, Chapelton offers enviable country living with everything you could need close at hand. View our homes for sale now.