Buying a newbuild townhouse is an exciting opportunity for homeowners and investors. However, it’s important to ask the right questions to ensure you’re making an informed decision. In this blog, we’ll provide you with a list of essential questions to ask the developer when buying a newbuild townhouse.
What’s the Completion date?
The first question to ask is the expected completion date of your townhouse. This information will help you plan your move-in date and avoid any potential issues that may arise during the construction process. In addition, you may need to coordinate with other parties, such as your real estate agent, landlord if you’re renting, or your mortgage lender.
Do you have Resource or Building Consent?
It’s important to ask the developer if they have obtained resource and building consent for the townhouse. Resource consent is required for any development that may impact the environment, such as changes to land use or building height. Building consent is required for any new construction, alteration, or demolition of a building. If resource and building consent have not yet been granted, the completion date will be affected and there’s not as much security on the timeline of your purchase.
What’s included in the purchase price?
It’s important to understand what’s included in the price of the townhouse. This can include fixtures, fittings, and appliances, such as a fridge, oven, and dishwasher. Knowing what’s included will help you budget for any additional costs, such as furnishings or landscaping.
Can I customize the design?
Ask the developer if variations or customization is possible. This could include customizing colour schemes, selecting different finishes or appliances, or adding extra features. Keep in mind that customization will probably come with additional costs, so it’s essential to clarify this upfront.
What warranties/guarantees are there?
Warranties are an important consideration when buying a newbuild townhouse. Ask the developer what warranties are included with the property. This may include warranties for the structure, plumbing, and electrical systems, as well as any appliances that come with the property. Common guarantees in NZ can include the 10 year Masterbuild Guarantee or the Halo Guarantee. In NZ, you are always protected by the Building Act 2004, and the Consumers Guarantee Act 1993.
Do you have client testimonials?
We always recommend that you choose a development with reputable builders and developers if you are buying off the plans. The developers should provide you with previous customer testimonials, so you can see the experiences people have had with them. Additionally, it’s worth asking friends and family if they have bought from them in the past to get a good idea of the developers you are trusting to build your home.
In conclusion, buying a newbuild townhouse in NZ represents a great home option and investment. Asking the right questions will help you understand the property’s details and make an informed decision. Remember, having more information will better prepare you to purchase your new home. Working with a good newbuild real estate agent like SM Property can help. They can often answer most of these questions for you and are in constant contact with the developers. Start your home buying journey today by chatting with the team.
