Important Facts to Know about Buying a Newly Built Home
by John Coleman JC Mortgages
Discover the benefits of buying a newly built home in Ireland, factors to consider, legal processes, financing options, choosing the perfect location, working with developers, and essential considerations for inspections and warranties.
Benefits of Buying a Newly Built Home
1
Modern & Efficient
Newly built homes are designed with modern amenities and energy-efficient features, reducing maintenance and utility costs.
2
Warranties & Guarantees
Enjoy peace of mind with comprehensive warranties and guarantees that protect your investment.
3
Customization Options
Personalize your home to suit your unique style and preferences, selecting finishes and upgrades tailored to your taste.
4
Help to Buy Scheme and the First Home Scheme

www.revenue.ie

Help to Buy (HTB) scheme

This is an explanation about the Help to Buy scheme for first-time property buyers

www.firsthomescheme.ie

Home

Helping homebuyers to get onto the property ladder in the Republic of Ireland. The First Home Scheme is a Government supported shared equity scheme.

Factors to Consider Before Purchasing
Budget & Affordability
Assess your financial situation and determine the maximum amount you can comfortably spend on a new home. Include what you may get from the help to buy and First home scheme if required
Location & Amenities
Consider the proximity to schools, transportation, parks, and other amenities that will enhance your lifestyle.
Future Growth & Development
Research the potential for future growth and development in the area to ensure your investment continues to appreciate.
Understanding the Legal Process
1
Engaging a Solicitor
Find an experienced solicitor who specializes in property transactions to guide you through the legal process.
2
Pre-Contract Enquiries
Ensure all necessary information about the property and development plans are obtained and verified.
3
Signing the Contract
Review the contract thoroughly, addressing any concerns or questions before signing to avoid future issues.
Financial Options for Buying
Mortgage
We will provide your Mortgage roadmap which will show you were you stand and what you may need to do get home you want.
Personal Savings
Utilize your personal savings and evaluate how much you can contribute towards the down payment. Can you use Help to buy or First Home scheme
Choosing the Right Location
1
Transportation & Commute
Assess the accessibility to public transport, highways, and convenience for your daily commute.
2
Schools & Education
Research the quality of local schools and educational institutions to ensure your children receive the best education.
3
Amenities & Lifestyle
Consider nearby amenities such as shopping centers, restaurants, parks, and recreational facilities for an enhanced lifestyle.
Working with Developers and Builders
1
Research & Background Check
Thoroughly research developers and builders, checking their reputation, experience, and completed projects.
2
Clear Communication
Maintain clear and open communication with developers and builders, addressing any concerns or clarifications promptly.
3
Regular Inspections
Keep a close eye on the construction progress, attending regular inspections to ensure everything is on track.
Important Considerations Before Closing
Home Inspection
Hire a professional home inspector who can identify any defects or issues with the property before you finalize the purchase.
Snagging List
Create a detailed snagging list, noting any cosmetic or structural defects for the builder to rectify before you move in.
Warranty Coverage
Understand the warranty coverage provided by the builder and ensure you have a copy of the warranty agreement.
Additional considerations
When can i tell landlord am Moving out
Can i change jobs while waiting for property to be built
Can i take out any additional loans while waiting for property to be built
What is the Role of JC Mortgages in this process
1- Educate you as to where you stand financially so you can plan properly the home you can buy
2- Manage the process with the bank to the day they send the funds to your solicitor so you we can then call you and tell you its not time to go and get your keys to your new home
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