Your First Step to the Front Door: A First-time Buyer's FAQ
If you're reading this, the chances are you've started scrolling through new homes for sale, saving your favourite floorplans, and wondering if you’re ready to make the leap from scrolling to owning.
Buying your first home is a significant moment. It should feel exciting, but not overwhelming. At Jones Homes, we’ve been guiding buyers through this journey for over 65 years with straight-talking advice, a bit of patience and genuine support.
To help you get your head around the process, we’ve answered some of the most common questions we hear from first-time buyers looking for their dream home.
Q: How much can I actually afford?
This is always the best place to start, and honestly - you don’t need to guess.
We can help guide you through this from day one. Our recommended independent financial advisors will look at your earnings, outgoings, savings and any existing debt. From there, they’ll confirm how much you could borrow and provide something called a Mortgage Agreement in Principle (AIP).
It’s not a full mortgage offer, but this is a really useful first step. It tells you what is realistic, and it shows estate agents and housebuilders that you’re likely able to secure finance. So before you fall in love with a particular plot, we recommend getting your AIP in place. This will save you time and help avoid unnecessary setbacks.
Q: How do I reserve a property?
Once you’ve found what you think might be your dream new build home and you’ve checked if it sits comfortably within what a lender is willing to offer, it’s time to make your reservation appointment.
After finding a home you love and once we’ve agreed the terms, we’ll move to complete the reservation forms. You’ll need a few bits to hand, including your contact details, full names and information about the solicitor and financial advisor you intend to use for your purchase. If you don’t have those yet, don’t worry, we can make recommendations for both.
The goal here is to help you proceed with confidence, not confusion.
Q: How much is the reservation deposit?
The reservation deposit is dependent upon the purchase price and ranges from £250-£2000. Sales advisors can guide you on the reservation deposit required for the property of interest.
This is a deposit, not an extra charge, and will be taken off the purchase price. Think of it as the first real commitment you make towards owning your first home.
Q: Can I reserve a home that’s still being built?
Yes. If the plot has been released for sale, you can reserve it while it’s still under construction. You’ll get to watch your home take shape, brick by brick, and you’ll often have a say in the finishes. Think kitchen styles, worktops, tiles, flooring, paint colours. The little details that make a new house feel like yours.
We also have an Earlybird scheme. If the home you’ve got your heart set on hasn’t even been released for sale yet, you can secure first refusal by paying a small, refundable deposit. It buys you time and peace of mind.
Q: What happens if I change my mind/cancel my reservation?
Once you’ve completed the reservation form and paid your reservation fee, you enter a 14-day cooling-off period. During that time, if you decide not to proceed, your reservation deposit is fully refundable.
Q: What does “exchange of contracts” actually mean?
It sounds formal, because it is, but it’s also a good thing.
Exchange of contracts is the point where things become legally binding. You’re committed to buy, and we’re committed to sell. At this stage, you’ll be asked to pay a deposit, usually 10% but in some cases we may agree to reduce this depending upon your mortgage and deposit position.
Once contracts are exchanged, the dream of owning a new home is one step closer.
Q: What happens at legal completion?
Legal completion is the moment ownership of the home transfers from us to you. You’re no longer a buyer. You’re a homeowner.
It can feel a little daunting at first, especially for first-time buyers. But here’s what you need to know: your new Jones home is covered by a 10-year warranty through the NHBC and for the first two years of that period you’ll benefit from 2-years of Jones Homes aftercare.
So if something doesn’t feel right, or you just have a question three months in, you’re not on your own.
Ready to take the next step?
If you’ve been looking at new homes for sale and have any other questions about the homebuying process, we’re here to support you. Visit our developments, speak to our Sales Advisors, or just browse our current homes online. No pressure. Just honest advice, and over six decades of experience behind it. Because finding your dream new home should feel like the start of something special.
Discover our new build developments across the UK today here.
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