28 Nov, 2023/ by Homeward Legal /Buyer, First Time Buyer, Sale & Purchase, Seller
When you are planning to move home, there are, of course, many things to consider, and keeping control of them can be both frustrating and stressful.
Daunting though this is, one of the last problems you might envisage as you look at what property is available is whether specific types of homes are more problematic than others.
There are some properties that inevitably come with extra restrictions, caveats and stipulations, which may come with covenants in the deeds or be applied by the various authorities who have an interest. The most obvious of these are those homes located in a conservation area, or buildings that are categorised as listed. Your solicitor will be able to assist in the guidance here.
But surely new-build homes should be at the top of the safe list, given that they have been through all the latest regulations covering the building, fire and safety.
But are they?
New-builds - are they what they seem?
An article in The Guardianfollows the paper's investigation into the legal loopholes some builders exploit as they look for ways of cutting costs and protecting their potential profit margins.
According to the report, this is particularly common when it comes to implementing the low-carbon regulations, now that they have been delayed by the Government's recent decision to step back from its green plans.
As the article goes on to note, because housebuilders have not had to spend the time and money on implementing the requisite changes that were part of the now-delayed legislation, houses built in recent years may not be as futureproof as might be expected
For example, the article cites instances of the installation of gas boilers, rather than the greener methods of heating water in the building (such as heat pumps). In others, the home might be lacking the best insulation, either in the walls and loft or with the quality of the doors and windows that have been put in.
Even taking out the cost of sorting out these issues in the future, any lower grading in the Energy Performance Certificate indicates that buyers of the property will likely be paying more for their fuel bills before that retrofitting takes place.
New-builds: Something to be concerned about?
While this situation might be reasonably manageable for now, the real problem comes further down the road. Because of the urgency of the climate crisis, it will inevitably be the case that the languishing legislation will be revisited, perhaps upgraded, and then implemented by whichever colour of government party is at the helm.
And it's quite likely that additional elements and requirements will be added to the list.
This will be when homeowners face the cost of retrofitting the regulations that should perhaps have been in place as a matter of course during the property's build. On top of that, there will be additional work that might be required adding to the extra cost not envisaged at the point of purchase.
New-builds: An optimist's view
Not all new-builds fall into this category, of course, but the buyer should be aware that these issues do exist. It's understandable, after all, from a business point of view - if something expensive is not legally required and can't be used as a significant selling point, it doesn't make sound financial sense to go ahead with it.
However, if sufficient people raise the question of the greenness of the new-build's credentials, then that demand will become significant, which, in turn, will make it a viable business proposition regardless of existence of any legislation or otherwise.
When it comes to looking at a new-build as a prospective new home, it's worth asking the questions of the builder, your solicitor and surveyorto check out the property to see where it conforms with the future of green policy, so that you can factor the results of the enquiries into your decision-making.
This is particularly important if, as the polls suggest, that there will be a change of Party at the helm, since Labour wants to build 1.5m homes.
Ultimately, if you can successfully argue that the future cost of retrofitting the property to meet your and the country's climate change obligations is a significant future cost, it might be a powerful argument when discussing the asking price with the builder or their representatives.
Worried about your home and what the legal issues on a new-build might entail?
That's where Homeward Legal can really help with affordable but quality conveyancing services! They will start work on your planned purchase and/or sale as soon as you agree to the quotation and appoint them to represent you.
Homeward Legal will also provide a quote that will not change - what you are quoted is what you pay for standard conveyancing process.
There are some unforeseen items that might arise during the purchase and/or sale, but the solicitor discusses these and their cost as they come up.
In addition, to protect the homebuyer further, Homeward Legal operates a ‘no completion, no fee' promise, which ensures that, should the purchase or sale not go through as planned to completion status, no payment is required.
Call to get your conveyancing quote started, or to discuss your concerns with your plans to move.
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