Buying Guide

There are many advantages to buying a new build home. At Devonshire Homes, our properties are constructed with you in mind from the very beginning, with numerous features that will help to make your life easier and save you money in the long-term.

Energy Efficiency

We are always looking for ways to improve our energy efficiency and, on average, it will be more efficient than an older property. This means buying a new build home saves you money and is better for the environment.

Safety

By buying a new build home means you will benefit from standard inclusions that are often unavailable on older properties, such as double-glazing, secure locking systems, smoke alarms and fully tested electrical and gas facilities.

Low maintenance

We create high-quality homes that require less maintenance, making it easier to keep your property in excellent condition.

Modern features

Every aspect of the design has been examined and where possible we have included items in our new build homes that you would not get in an older property.

NHBC/LABC Policy

Every home we build comes with a 10-year NHBC or LABC policy to provide you with a peace of mind when it comes to safeguarding your investment.

New Homes Quality Code

All of our new builds are fully compliant with the New Homes Quality Code, ensuring you are treated fairly and given reliable information. Please visit nhqb.org.uk for more information. Prior to 1st January 2023, the Consumer Code for Home Builders was applicable.

No chain

As buying a new build home means you’re the first ever owner, there’s no need to worry about the previous occupant’s circumstances.

Personalised features

If your reserve your property early enough in the build process you can make certain design choices to suit your taste and requirements.

1

STAGE 1
Reservation

Once you have chosen your new build home with our sales executive, you will need to reserve the property:

- First, complete a reservation form with the sales executive and secure your new home with a reservation fee.

- You will be entitled to a 14-day cooling off period from the date of reservation.

- As soon as we receive the completed paperwork and fee, the property will be taken off the market for 28 days (called ‘the reservation period’). The reservation fee then becomes part of the purchase price.

- At the point of reservation, you will be given an indication of the anticipated legal completion date. This is not a definite date and the actual completion date cannot be guaranteed due to external forces beyond our control (such as the weather), however, our sales executive will keep you informed at every stage of the reservation.

- Prior to reserving your home, your IFA or mortgage broker had to provide evidence to the sales team that you qualify for a mortgage in principle. After reservation, your IFA will apply for a full mortgage (if required).

- At the point of reservation, you will need to provide details of your solicitor. If unsure, we can provide you with details of local solicitors we can recommend.

- You will be given a copy of your reservation form.

- At Devonshire Homes we adhere to the New Homes Quality Code. You will be given a booklet that outlines this code upon reservation.

- We will immediately send a copy of the reservation form to both our and your solicitor.

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2

STAGE 2
Exchange of contracts

During the 28-day reservation period, correspondence will have been exchanged by both sets of solicitors and will culminate in two identical documents, one signed by Devonshire Homes and one by you.

- Your solicitor will contact you prior to the exchange of contracts and arrange a meeting in order to review the contract and sign the necessary documents.

- Once contracts have exchanged the agreement is legally binding.

- Your solicitor will ask you to pay a deposit (normally 10% of the purchase price). This will be paid to Devonshire Homes at the point of exchange of contracts.

- Between the Exchange of Contracts and Legal Completion, our Sales Executive will frequently update you with the progress of your home.

3

STAGE 3
Legal completion

Legal completion is when you take ownership of your new home. Payment will have been made in full and passed to our solicitor; your solicitor will have received the Title Deeds to your property. At this point, you are responsible for your home and you should ensure your property is fully insured.

- Legal completion takes place after the property is build complete and the necessary paperwork has been issued by the NHBC or LABC, stating your home conforms to NHBC/LABC standards.

- Following receipt of the completion of all works a formal notice will be served on your solicitor and completion must take place within the notice period.

- Devonshire Homes’ notice period is 10 days.

- Prior to legal completion, you will be invited to a demonstration of your new home. It is important you attend, as you will be shown how all of your appliances operate and key features will be pointed out.

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4

STAGE 4
Handover

The final stage of buying a new build home is the handover. This normally occurs on the day of completion, however, if you wish to make alternative arrangements for another day this can be arranged.

- Following legal completion, our Sales Executives will contact you to confirm funds have been received and will make arrangements to hand over the keys.

- On the day of completion, our Sales Executive will read the meters and complete a key handover form - you will receive a copy of this document.

- You will be given a handover pack containing all guarantees, warranties and NHBC/LABC booklets.

Choices and selections

When buying a new build home, you may want to personalise it to your individual tastes and preferences and, where possible, we will work with you to achieve this. Our experienced Sales Executive will assist you, but please bear in mind that all options are subject to the build stage at the point when you reserve your new home. If you reserve your property at an early enough build stage, options available to you may include:

Selecting your own kitchen door, handle and wall tile choices

Selecting your own bathroom, en-suite and cloakroom wall tile choices

Personalising your home further with extras that may be available

Cancellation policy

Upon reservation, you will have paid a £1,000 reservation fee. Please note Help to Buy reservation fee is £500. If you cancel the transaction before the end of the 28-day reservation period we will refund the following:

· Before day 7 we will refund £500.00

· Between days 8 and 14 we will refund £400

· Between days 15 and 21 we will refund £250

· Between days 22 and 28, you will not receive any refund

Please note the cancellation policy is based on a £1,000 reservation fee.

Bedrooms