Structural warranty company Build Zone, has drawn on their 29 years of experience to publish a checklist to help developers enter the lucrative new-build market.
New-builds present an excellent opportunity for developers as the demand for new-build properties is strong from first-time buyers who want to climb onto the property ladder.
Developed to meet building regulations
As a developer, you must ensure that you are meeting all the building regulations set, the UK has high building standards to secure the safety of its citizens and covers a range of areas including electrical, structural and fire safety and other rules.
Developers also need to select the most experienced surveyors and inspectors to ensure the end-result lives up to all regulations and beyond with all technical audits carried out.
The importance of structural warranty
Just as crucial to the checklist of a new-build as safety is the structural warranty.
Often, the first thing developers should think about is the mortgage lender understanding the warranty for structure. Do the appropriate research and ensure you pick the right fit as this is important in the long run.
In particular, you may need to read the fine print when it comes to additional cover you might considering taking out such as contaminated land or removal of debris etc. This will come in handy if a situation arises and you fail to comply with any of the building regulations – good security to protect your reputation.
Insurance of your site
Similar to structure insurance, when thinking about new-build developments you must consider site insurance. This will protect your investment for a worst-case scenario during the building phase.
Insurance on site can also cover fire, floods, theft and vandalism. Again, we do advise you check the fine print to ensure you are covered on the aspects you want to be included.
Health and safety regulations on the development
Health and safety should be at the top of your priority list on all aspects of development. You must protect your employees and visitors that come to the site as well as the public before and after construction. There is plenty of information available on this aspect online to ensure you run things smoothly.
One crucial fact is that the client and contractor are both responsible for complying with the law ‘Occupational Health and Safety Act of 1993’.
Expect a lot of paperwork
Building something from scratch is always complicated, and building a new-build is far more complicated. Starting from technical audits to insurance documents, contracts etc. this process of documentation is significant, and you must keep them safe but comfortable to find when needed.
Energy Performance Certificates known as EPC is a requirement under Approved Document L of the building regulations for England and Wales. This documentation is given to the building occupier as well as potential buyers to inform them how energy efficient the home is. If you’re looking to go into the new-build market to sell, then you should know this information is a huge selling point for the houses.
This is linked to pollution with the possibility of the new-build getting draught over the long term. This is why previously we stated you need surveyors to ensure they carry out the appropriate work so such risks are eliminated and you have the certification of all the checks in hand.
Is the land safe to build on
The last thing you want is purchasing a piece of land with your own money and trying to obtain a loan or mortgage to fund the development but find out the area isn’t safe to build work on. For example, Japanese knotweed is known to spread quickly, and damage construction as a result mortgage company carry out tests and if there is a threat to the building – you will be declined for a possible loan.
How to deal with disputes arising
You want to ensure things run smoothly; this means keeping all parties happy while developing. This means you need to have a clear plan in mind to ensure you resolve any future situations you feel might arise. As an extra warranty, it is advisable to take out insurance and warranties which can be used effectively if needed.
To summarise, if you go through this checklist and do additional research on each section – you will save yourself a lot of time and hassle.