Between reserving your plot and picking up your keys, buying a new build house can feel a bit vague.
The good news is that none of it is too complicated once you know what each step involves and when it happens.
This guide walks through the new build home buying process, from reservation to move-in. By the end, you’ll have the full picture of what to expect after reserving a new build home and what it’ll cost.
5 steps that happen after reserving a new build house
Step 1: Pay your reservation fee
Reservation takes your chosen plot off the market and fixes your price while the legal and financial groundwork takes place.
You pay a reservation fee (typically between £500 and £1,000) which usually comes off your final purchase price at completion. In exchange, you get a reservation agreement setting out:
- The plot
- The price
- The specification
- Your exchange deadline
From here, you have a set window (usually 28 days) to exchange contracts. For this reason, it’s usually a good idea to have a solicitor and broker lined up before you reserve your plot. That way, you’re ready to go when things get moving.
Did you know? If you buy a new build home with Genesis Homes, we can point you towards conveyancers and brokers who work with new builds regularly. Using professionals with experience in new build purchases can help speed things along.
Step 2: Solicitor runs the legal checks
Your solicitor requests local authority, water, and environmental searches, which means checking the planning history, drainage, and the land’s flood or contamination risk.
Then, they check the title to confirm who owns the land, any covenants attached to it, and review the contract from the developer’s solicitor. They flag anything that needs clarifying before you sign to ensure it’s legally watertight.
Step 3: Lender arranges a valuation
Your mortgage lender (if you use one) instructs a valuation survey to confirm the property matches the loan amount. This process protects the lender in case you break your mortgage agreement or miss your repayments.
After valuing the property, the bank sends through your mortgage offer (usually around four to six weeks after your application).
Side note: If your home is still under construction, the valuer works from the developer’s plans and specification, as well as recent local sales.
Step 4: Decide whether you want your own survey
New house builds must meet certain building regulations and pass NHBC inspections throughout construction, so you’re less likely to need a full structural survey than on an older property.
When buying a new build home, it’s more common for buyers to commission a snagging survey, where a professional:
- Inspects the finished home for defects
- Makes sure the property aligns with the standards the builder should meet
It’s still your choice, though. Some lenders ask for one before releasing funds, so check with your solicitor and lender before deciding.
Side note: At Genesis Homes, we carry out our own thorough checks throughout the build, including our own snagging inspection before you collect the keys and a walkthrough on moving day. For this reason, many buyers feel they don’t need a survey at all. But like we said, it’s up to you and your lender whether you want your own RICS survey.
Step 5: Exchange contracts and move into your new home
Your solicitor is happy, your mortgage offer is in place, and your deposit is ready. Now, it’s time to exchange contracts and complete the new build home buying process.
You pay your deposit, and the transaction becomes legally binding for both sides.
What’s the typical timeline from reservation to moving into your new build?
How long you wait depends on how far along the build is when you reserve the property:
- If you reserve a finished, ready-to-move-in home, you could exchange and complete within eight to twelve weeks.
- If you reserve off-plan while the build is still underway, it could be anywhere from three months to a year.
If the home is still being built, it’s normal to wait a little longer than a typical property sale.
Side note: Buying a new build property for sale with Genesis Homes? You’ll be in the loop throughout the entire build. Four to six weeks before your home is ready, we’ll confirm a build completion date, giving you time to arrange removals and give notice if you’re renting.
Find out more about how Genesis can help you move into your new home.
Key costs and fees when buying a new build home
Beyond your reservation fee, conveyancing fees, mortgage fees, and lender valuation fees should be in your budget. Here’s what to expect:
- Conveyancing fees (£800-£1,500*)
- Mortgage arrangement fee (£500-£1,000)
- Lender valuation fee (£150-£300)
- RICS survey fee (£250-£600)
- Stamp duty land tax (nothing on houses below £125,000, but varies by house price and buyer status)
- Removal and moving costs (£300-£1,500)
*Prices are approximate and vary depending on the cost of the home, the lenders and solicitors you use, and your buyer status. For example, first-time buyers don’t pay stamp duty on homes up to £300,000.
Recommended reading: How much does it cost to move house? A simple guide.
Is buying a new build home different from buying a resale property?
Yes, buying a new build differs from buying a resale property because you deal directly with the developer’s sales team and solicitor rather than a private seller and estate agent. This means you have one point of contact, a fixed price, and a clear specification instead of any negotiations.
A new build is also a chain-free property, meaning there aren’t any sellers above you to slow things down. Your exchange deadline is set by the reservation agreement rather than negotiated between buyers, so you’re working to a fixed window rather than waiting on a chain.
If the home’s still being built, you’re also buying against a construction timeline, not a fixed move-in date. You can still agree on a move-in date, but delays in construction could shift this timeline.
Recommended reading: How to buy a new build home.
Interested in buying a new build home? Start the process with Genesis Homes
Every stage above (searches, surveys, valuations, build updates) runs smoother with a developer managing the process in-house. That’s how Genesis Homes works, giving you one point of contact for updates from reserving the plot to collecting the keys.
If you’re Googling “new build homes near me”, why not take a look at our new build homes for sale? Our developments offer modern, energy-efficient homes in areas with strong communities.
Get in touch with the team for plot-specific details on timelines and costs. We’re more than happy to talk you through the process!