If you’re looking at purchasing a property in the UK, then opting for a new build is a really smart move that unlocks plenty of benefits. You’ll enjoy the latest building standards and amenities and you won’t be inheriting any problems from previous owners. Looking ahead in 2025, the landscape for buying a property is continuing to evolve with new policies and schemes like shared ownership that make home ownership easier for you. So, this article will take a look at the homebuyer's journey for 2025 to provide you with a guide to purchasing a new build this year.
Understanding New Build Properties
New build homes are properties that have been recently constructed and have not been previously occupied. As well as enjoying a brand new property with all the bells and whistles, many new builds are available through affordable schemes like shared ownership (or New Supply Shared Equity in Scotland). This can make buying a new home much more financially manageable for first-time buyers and those moving onto the property ladder.
One of the primary advantages of new builds is that you’re investing in a brand-new property. This comes with protections like those offered by the New Homes Quality Board, which provides peace of mind against structural defects. Beyond this, new builds are more energy-efficient than older houses, adhering to the latest building regulations and equipped with the newest heating systems, double or triple-glazed windows, and effective insulation.
The Buying Process: From Viewing to Completion
Your homebuying journey begins with researching and viewing various new build developments. Searching online for reputable developers (such as Sanctuary) can provide plot listings and details that will give you insight into which house may be right for you. If you can, take an in-person look at the neighbourhoods to get a better idea of the overall feel of the development location. Some developments may also have a show home and sales office available to view.
Securing a Mortgage
You should secure a mortgage agreement in principle before making a reservation. This confirms how much you're able to borrow, setting a realistic budget for your property search. Mortgage offers for new builds sometimes have specific conditions as lenders, so be sure to discuss your situation with them.
Reservation and Contracts
Once you’ve found your perfect property, you will make a reservation and pay a reservation fee. This fee ensures the property is taken off the market while you complete the necessary paperwork. Subsequently, the exchange of contracts follows, where you commit legally to the purchase, and the completion date is set.
Shared Ownership: An Affordable Path to Homeownership
Shared ownership is a government-backed scheme designed to assist households and first-time buyers who cannot afford to purchase a property outright. Buyers purchase a share of a new build property (typically between 10% and 75%) and pay rent on the remaining share.
Eligibility and Purchase
To qualify for shared ownership in 2025, applicants must meet certain criteria, such as a household income of less than £80,000 (£90,000 in London) and be either a first-time buyer or someone who used to own a home but can’t afford to buy something that meets their needs on the open market. After purchasing an initial share, homeowners can increase their ownership through a process called "staircasing," often eventually owning 100% of the property, however this isn’t always guaranteed or possible on all developments.
Find Your Dream New Build Home in 2025
Purchasing a new build in 2025 offers a unique opportunity to own a modern, efficient home tailored to the latest living standards. Whether opting for a full purchase or a shared ownership scheme, it really helps to thoroughly research different properties to find one that perfectly suits you. If you would like assistance in finding your perfect property, then please contact our team at Sanctuary today.