Discover the 10 best property developers according to verified first time buyers on HomeViews. The list ranks the winners in the category ‘Top Rated Build to Sell Developer for First Time Buyers’, from our 2024 Resident Choice Awards.
What does a property developer do?
A property developer typically manages the entire process of developing and building new homes. This can start at the stage of purchasing land or existing property, which can involve negotiating financial support packages. The process includes developing plans and designs for the development, applying for and obtaining the necessary planning consents, and appointing construction firms and contractors to carry out the build. Developers may also manage the marketing and sales of their properties, and provide after-sales care to buyers and residents. This ensures developers are involved in every stage of the property development process.
How many property development companies are there in the UK?
According to propertydata.com, who publish the UK Housebuilders Directory, there are 2,460 active housebuilders and residential property developers in the UK, as of March 2024. Companies range from massive developers with national coverage, building thousands of units every year, to smaller, local developers.
Top 10 developers for first time buyers
So, which of the UK’s property developers are rated the best for first-time buyers, according to our 2024 Resident Choice Awards? If you’re a first-time buyer and you’re considering purchasing a new-build property, take a look below to check out the list.
Please note: this Top 10 list is not based on the Star Ratings shown below, but purely on reviews between 17 October 2022 to 31 December 2023. Only developers with a minimum of 50 reviews in this period were considered for the awards.
What’s the difference between property development and construction?
While construction firms are specialists in the process of building new homes, property developers oversee the entire development process. This can start at the stage of acquiring land and property for development, and end after completion of the sale. Property development companies may appoint construction firms to carry out building work on a new property development. However, a construction firm wouldn’t typically design and manage the entire development process.
How do you identify a good property developer?
If you’re considering buying a property directly from a developer, you may want to do some research on the company’s track record. HomeViews’ property reviews from verified residents can give you a strong indication of the success and quality of a new build developer. You may also want to research a developer’s previous developments.
Consider factors such as sustainability of the development and the care and attention given to transport connections. You might also think about green space, proximity to, or provision of, local amenities. Another important factor is whether the layout of the development is well-designed and easily navigable. Check marketing materials for details of the quality of finish and fittings, and for any details of after-sales care.
What are the advantages of buying directly from a property developer?
Buying directly from a new build property developer can be the most cost-effective to purchase your new home. If you’re buying off-plan, or before the construction of the property is completed, you may be able to secure a significant discount on the purchase price. You could also potentially have a say in the specification, finish and fittings of your property.
Buying directly from a developer also cuts out agents and third parties. This may make the process of completing the transaction smoother. Developers often provide after-sales care and services, including fixing any snagging issues with the property, so you’re not completely on your own after completing your purchase.
What are the advantages of buying a new-build property?
Buying a new-build property directly from a developer has many advantages. It’s usually cheaper to buy a property before or during its construction, than it is after construction is complete. New-build properties can also provide you with access to home buying support schemes such as Shared Ownership, if you’re a first-time buyer.
Aside from the financial benefits, new-build homes offer a blank canvas for you to make your mark on. There are unlikely to be any big jobs that you’ll want or need to do on the property. They also offer the benefit of being chain-free and having to meet energy efficiency standards, making your energy bills cheaper.
For more information on buying a new-build home, take a look at our list of 10 things new build owners wish they’d known before buying.
Do first-time buyers pay stamp duty?
The rules regarding stamp duty (or Stamp Duty Land Tax, to use its official name), are different for first-time buyers. You typically pay stamp duty on property purchases above £250,000, at 5%, though this increases for more expensive properties. However, if you’re a first-time buyer you don’t pay stamp duty unless your property is valued at more than £425,000. You can read more about stamp duty in our guide for first-time buyers.
Thinking of buying a new-build?
Then look no further, our new-build essential advice page has everything you need to know. From a step-by-step guide to buying a new build, to the top 10 things new-build buyers wish they had known before purchasing, it can help prepare you for every element of your next move. We’ve also put together a New Build Resident Experience Report, which you can download here.
You can also find further advice for first-time buyers in our guide to first-time buyer schemes and our first-time buyer’s guide to getting a mortgage.
HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.
