This is the first of many news items that will be posted to this website on a regular basis. It is my intention to write about issues that are presenting themselves in the new build market .
I am a consultant on the process of building your new home and help people through the process. I find the land ,I look at plans with a client ,have meetings with the finance people and walk through the process with the client from start to finish.
There are issues that arise about how the deal is financed and structured which are legal issues. There are contracts and conveyancing processes involved here. I have a law firm that I work with who deals with these aspects. They will answer any questions around legal aspects of the transaction. I work closely with the legal firm.
There are also practical issues as to the purpose of the build the idea of beginning with the end in mind is important here. A build project for an investor is going to look different to a residential owner occupier project. There are practical issues around handover and completion . Arranging for quantity surveyors and property managers to rent the property are other issues. Dealing with trades if some of the finish of the project is handled separately to the chosen builder.
Some people consult with me about a property proposal they have been shown or have initiated by themselves for a new build or even for the purchase of a second hand property . I am happy to talk to them and they are simply looking to run a proposal past me. I like add some value to their lives even if there is no transaction that happens between me and them.
There are many practical issues that arise just by looking at an overall deal that from experience you can spot at an early stage. You might see someone buying in a company name which might appear wrong under many criteria and the thought might be to send you back to your adviser if you have an adviser to check that is the correct structure. I do not assume always that the structure was prepared by an adviser. It has not been unknown for people to organise their own structures online but when it comes to getting involved with a structure such as a company and a property a tax professional needs to look at the set up.
It is my goal to be a go to person on matters relating to choosing a new build to live in or to invest in.
YS New builds 