Buying a New Build Home: Step-by-Step Journey
Choosing and buying a new home is one of the most important decisions you’ll make. From selecting your ideal location to moving in, the new build buying process can feel complex, but understanding the key stages can make it much clearer.
This step-by-step guide outlines the main milestones involved and timelines for buying a new build home with Berkeley Group, so you know what to expect at each stage.
Overview of the New Build Buying Process
The typical timeline for buying a house from offer acceptance to completion is as follows:
- Step 1 – Reserve your home
- Step 2 – Complete the legal process
- Step 3 – Exchange of contracts
- Step 4 – Build completion (if relevant)
- Step 5 – Completion and key handover
Step 1: Reserving Your Home
What Happens at Reservation
Once you’ve chosen your home, you can reserve it by completing a reservation agreement with the sales team.
At this stage, the property is taken off the market for an agreed period, giving you time to progress the legal and financial steps needed to secure your purchase.
Reservation Fees Explained
To reserve your home, you will usually need to pay a reservation fee. The amount can vary depending on the property and development.
This fee secures the property while you move forward with the next step: the legal process and prepare for exchange of contracts.
Step 2: The Legal Process
Appointing a Solicitor
After reserving your home, you will need to appoint a solicitor or conveyancer to act on your behalf. They will manage the legal aspects of the purchase and act as a point of contact between you, the developer and your lender.
What Happens During Conveyancing
Conveyancing is the legal process of transferring ownership of the property from the developer to you. During conveyancing, your solicitor will review the legal documents for the property, check contracts and raise any enquiries on your behalf. This is your opportunity to ensure everything is clear and correct before moving forward.
They will also carry out necessary searches, liaise with your mortgage lender and prepare you for exchange of contracts.
This process takes place within your reservation period, so it’s important to respond promptly to any requests from your solicitor to help keep things on track.
Legal and Survey Checks
Between mortgage approval and completion, a number of important legal and property checks take place to ensure everything is in order.
Your solicitor will carry out searches on the property, including local authority checks, environmental reports and any planning considerations. They will also review the contract, title details and ensure there are no legal issues affecting the property.
At the same time, your mortgage lender will arrange a valuation to confirm the property’s value. You may also choose to carry out an independent survey, which can highlight any potential issues with the condition of the home.
These checks help ensure that both the legal ownership and the condition of the property are fully understood before you commit to completing the purchase.
Step 3: Exchange of Contracts
What Exchange Means
Exchange of contracts is a key milestone in the buying process. At this point, your solicitor and the developer’s solicitor formally exchange signed contracts, making the purchase legally binding.
This usually takes place within the reservation period, often around 28 days, depending on the stage of construction and your individual circumstances.
Once contracts are exchanged, both parties are committed to completing the transaction.
What you Commit to at This Stage
At this stage, you will usually pay a deposit through your solicitor, and you commit to buying the property under the agreed terms.
With contracts in place, a completion date will be agreed or estimated, depending on whether the property is ready or still under construction.
Step 4: Build Completion (for Homes Still Under Construction)
Construction Timelines
After contracts are exchanged, your new home will either be ready for completion or continue through its final stages of construction.
If you are buying off-plan, the build timeline will depend on the stage of development. You will be given an estimated build timeframe, which becomes more precise as construction progresses.
During this period, you’ll receive updates on the progress of your home from the sales or customer service team.
If you’re buying off-plan, you can read our guide to buying off-plan for a more detailed explanation of this stage.
Preparing for Completion
As your home nears completion, you will need to finalise your mortgage arrangements and ensure your solicitor is ready.
You may also be invited to inspect your property ahead of completion to ensure everything meets expectations.
Once your home is built and all legal requirements are met, you will move to the final stage of completion and handover.
Step 5: Completion and Moving In
Final Checks
Before completion, your solicitor will provide a completion statement outlining the remaining balance, including any outstanding fees and charges. You will need to ensure all funds are transferred in time for completion.
You may also be invited to attend a pre-completion visit to view your home and ensure everything is ready ahead of your move.
Preparing for Your Move
As your completion date approaches, you’ll need to make practical arrangements such as organising removals, setting up utilities and preparing to move your belongings.
Planning ahead can help ensure a smoother moving day.
Completion and Key Handover
On completion day, once funds have been transferred, you’ll be able to collect your keys and move into your new home.
You will attend a handover appointment where you’ll receive your keys and be shown how to use appliances and systems within your home. Meter readings will be taken, and responsibility for utilities will transfer to you at this point.
Once you’ve moved in, your customer service team will be available to support you as you settle into your new home. You can then start settling into your new home and making it your own.
Typical Timelines for Buying a New Build Home
What Can Affect Timescales
The timeline for buying a new build home can vary depending on a number of factors, including whether the property is already complete or still under construction.
For homes that are ready to move into, the process can move relatively quickly once contracts are exchanged, with completion often following within a few weeks.
For off-plan purchases, timelines are usually longer, as they depend on the construction schedule. You will be given an estimated completion date, which becomes more accurate as the build progresses.
Other factors that can influence timescales include the speed of the legal process, how quickly mortgage arrangements are finalised, and how promptly documentation is completed.
While each purchase is different, staying responsive and working closely with your solicitor and sales team can help keep the process moving smoothly.
Need More Advice?
Our first-time buying guide can help you understand each aspect of buying a new home.