A new build property is one which has never been lived in and has typically been built in the last few years.
From being more cost-efficient compared to older properties, to other factors such as being part of a growing community, purchasing a new build home can come with a variety of benefits all throughout the moving process and beyond.
Find out why buying a new build home is a popular option as we take you through some of the main advantages!
Low maintenance means more time for you
Moving into a home which nobody has lived in before can make the moving process much easier and stress-free.
Having a new build property means you have no onward chain to contend with – this is particularly useful as you won’t have to wait for someone to sell their home before you can move in!
Major repairs are also rare within the years following your move. You’ll not have to worry about tiring tasks you may have had to consider if buying an existing property, such as peeling back old wallpaper, re-painting walls or potentially receiving post intended for previous owners.
From the moment you move into your new property, essential features such as our modern fitted kitchen and lighting will be in full working order, allowing you to focus more on the fun aspects of moving. Your new home will be a blank canvas ready to start decorating as you wish!
Affordable living with energy efficient homes
At Sovereign we’re proud to work with developers using sustainable building methods to create safe and environmentally friendly homes.
Many of our shared ownership homes are built using energy saving features such as lighting, insulation, glazed windows and better air filtration. These features can help you save considerably on bills such as energy and electric in the long term, whilst also reducing your carbon footprint.
Some new build owners have also found that they have spent less money than expected when moving. This is because some new build homes are already available to move into and have added benefits such as fridge/freezers, washing machines and carpets/flooring – all of which cuts costs and is convenient from the moment you move in.
Designed with you in mind
Built to the latest specifications, all of our new homes are built to offer stylish living to a high-quality standard.
Whether you’re a growing family or a first time-buyer looking for a place to call your own, we offer a range of different house types across the south designed to suit your needs. From standard features such as storage space and allocated parking to added extras such as white goods, carpets and flooring, our range of homes come with a host of different features built with you in mind.
Structural warranty
Although rare for unexpected faults to happen, all new builds come with a minimum 10 year warranty and 1 year defect period to protect you from any major structural defects and give you peace of mind in your new home. As well as offering you protection in such circumstances, it also provides considerable financial savings should any problems occur in this time frame.
Flourishing communities
On our new build developments you’ll find everything within easy reach outside of your beautifully designed home. Benefit from local amenities such as shops and schools either in walking distance or a short drive away.
From countryside to coastal, you could also enjoy plenty of open spaces and picturesque views depending on your location. With plenty of new faces moving in around the area over the years you’ll also enjoy a real sense of community spirit and a friendly neighbourhood, making it a perfect place to socialise and call home.
New build homes available with shared ownership
As one of the leading shared ownership providers in the south of England, Sovereign are proud to be able to deliver affordable new homes in places people love to live.
Whether you’re looking to experience modern living in thriving areas such as Bristol, take strolls along the coast in picturesque Devon and Dorset, or simply enjoy a taste of rural living in locations such as Oxfordshire and Hampshire, our range of new-build homes are available with shared ownership and designed to help get you on the property ladder.
With over 20 years’ experience and our handpicked financial and legal advisors, we’ll help you buy the home that’s perfect for you. Get in touch by phone, email or online to reserve a new build home and start your shared ownership journey.
FAQs
We partner with you to share the cost of buying your own home – you pay for the part you can afford and we’ll pay for the part that’s left. It’s an opportunity to buy the home that’s right for you without needing the large deposit or the mortgage that goes with it.
You buy a share in your home that’s right for you. That could be from 25% up to 75% initially. You’ll pay a reduced rent to us on the share we own and a monthly service charge.
As your finances allow, you can buy further shares in your home as and when you choose, meaning you’ll own more and pay less rent.
Typically, you’ll only need a deposit that is 5% of the value of your share, rather than of the total property value, meaning you could get moving sooner than you thought.
- As long as you are over 18
- Your household income is less than £80,000
- And you don’t already own a home at the time of buying your shared ownership property
… then Shared Ownership could be right for you!
Some properties may be bound by local connection restrictions in order to make them affordable for local customers. We'll let you know if there are any restrictions in place when you are searching for a property.
A deposit for a shared ownership home can start from just 5% of the share value you’re looking to buy. So for example:
If you’re looking to buy a home that has a 40% share value of £80,000, then your deposit could be as little as £4,000 - meaning you may be able to get on the property ladder sooner than first thought!
You can speak to our panel of financial advisors for more information around affordability.