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new construction home buying process

Buying a new home: all you need to know

Buying a new home requires some thought and some precautions. Before giving in to a crush you may regret, know how to evaluate your budget and your needs. And define the type of construction contract that suits you. Not to mention that depending on where you want to build, city or countryside, the solutions may be different.

Set a budget before buying a new house

Before you go in search of a land and / or a builder of individual houses, start by defining your budget. You must know your borrowing capacity without forgetting that all repayments of your credits must not exceed 33% of your income. Do not hesitate to play the competition between banks to find the best interest rate. You can also, hire a mortgage broker.

And even if you do not have a personal contribution, do not be discouraged. It is quite possible to buy a house without input.

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One of the advantages of buying a new home is the possibility of obtaining various assistance: loan with zero rates (PTZ +), loan of social accession (PAS), loan agreement (PC), loan of action housing (ex 1% accommodation). Awarded on a means-tested basis, they represent an important help in a real estate purchase.

After the financing, specify your needs not only inhabitable m² but also in equipment (proximity of school, trade, your places of work, etc. Do you prefer a townhouse without or with a small plot or on the contrary, do you want large spaces, even if you want to be further from the city and its amenities? Be particularly attentive, because the answers to these questions will condition your purchase but also your way of living for the coming years. Talk about Concern with to get the best advice related to your problems.

Buy a house off-plan or sale in the state of future completion. Many promoters offer this type of sale for homes rather urban. You choose a house on the plan as well as all its technical characteristics and you sign a reservation contract with the developer and then the final sales contract. Upon signing it you become the owner of the floor and then the different parts of the apartment as and when it is built. You pay the promoter according to the progress of the work.

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You do not have to look for land to build and you are protected in case of delay, poor workmanship or default of the promoter by the contract of VEFA.

To buy a new house with a CCMI (contract of construction of individual house). You entrust the construction to a builder who takes care of all the formalities (plans and deposit of the building permit) and the realization of the house. Although he subcontracts parts of the construction, he is the sole site manager. The CCMI is strictly defined by law and gives you guarantees on the characteristics of the house, the price and the remedies in case of delays or poor workmanship. The construction can be carried out on a ground of you already own or on a ground which is proposed to you by the manufacturer. According to the builders, you have, more or less, the possibility of modifying the proposed plans.

Buy a new house already built. If you are pressed for time or find the house of your dreams in a building program already built, you buy “turnkey”. You benefit then from all the advantages of a new construction without having to wait as well as legal guarantees of perfect completion, the guarantee of good functioning of the equipment and decennial guarantee. Attention, the different delays of implementation of these guarantees begin from the reception of the works. Be especially careful when handing over the keys and take the time to inspect everything.

If none of these types of new home purchase suits you and you want total freedom of construction (in compliance with urban planning standards, of course!), You can also call on an architect who will realize your plans and can also follow the construction site, unless you also want to keep total control of the project.