Property Acquisition: Ultimate Guide
Purchasing a new property and fitting it out to meet your needs and desires sound like a costly investment. However, sourcing and designing a new home can cost less than you'd expect!
By specialising in sourcing "fixer-uppers", Nu Projects London gained vast knowledge on why is it worth it to acquire and modernise a property in London.
If you are looking for a property to buy, read our article to learn what you have to be aware of and how Nu Projects can assist you!
Reduced Stamp Duty: Saving Money
When sourcing an unmodernised property at a low price, stamp duty charges can be reduced upon purchase. Consequently, this saving can be used for refurbishing the property to a high finish.
Feasibility Assessment
When you sign up with Nu Projects London, you can expect complete transparency regarding costs and fees, schedules, plans, proposed layouts and the progress of construction.
We cover up to five feasibility assessments, including proposed plans, high-level costs and the anticipated time frame. This is included within the cost of the retainer.
Purchase Negotiation: Best Terms Provided
When purchasing a new property, it's indispensable to know the market. When you sign up with specialists like Nu, you have a head start. We have purchased over 20 properties in the UK; therefore, we know the market and can negotiate the best terms for you.
Holistic Approach: Find it, design it, develop it
Your project doesn't stop at acquiring a property; finding, buying and developing the property is an extensive process. We at Nu Projects London believe that an all-encompassing approach makes it much simpler.
We provide three services, we can
find,
design
and develop
the property, being the sole point of contact throughout, making the whole project more straightforward and stress-free.
Timeless Design & More Value
You can significantly increase the property value and quality of life with great design. Nu Projects operates with the interior design philosophy that maximises the light that flows through the home at every opportunity. We call this 'Volumetric Design'.
We design spaces with a sophisticated approach tailored to our clients' needs, lifestyles and tastes.
Unique Service: Adding value
Finding the perfect property is a challenge. With over 10 years of experience, we've grown an extensive network of property owners and on & off-market agents, we carefully select properties with substantial development potential. This local expertise proves particularly helpful for foreign buyers and investors.
We look not only for value at purchase but also to increase the property value. Our aim is to make the total cost of the property and development 10% less than its market value.
Initial Site Funding
Nu Projects not only helps you source the perfect unmodernised property but also to explore the most suitable funding to ensure your purchase completes efficiently.
Self-build and Refurbishment Funding
Once you have obtained the property, you have to decide whether to refurbish or completely start again from scratch. Either way, we can provide you with a panel of lenders, including development finance lenders, who understand the complexities involved with financing a project. Our brokers can guide you through the process, ensuring you are equipped with the most appropriate finance at every stage.
Cash-flow: Making sure you stay liquid
Be aware that throughout the development process, your cash flow can be impacted by several variables; for example, contractors requiring payment before you have the funds to service the invoice might leave you out of pocket.
There is nothing to worry about, Nu Projects can help with all aspects of finance, including invoice financing, so you retain your liquidity during the build.
Development Exit Finance: Short-term funding or mortgage
We assist you even when the refurbishment or build is complete. We will ensure you are re-mortgaged onto a mainstream mortgage, appropriate for the end-use of the property.
Whether you require short-term funding while you wait to sell or a residential mortgage, we have expert brokers who can help.
Protecting Your Project: You are covered during the whole process
By signing up with Nu Projects, you will ensure it is protected both throughout the build and on completion.
We help provide suitable insurance for its intended use. We can source
developers' insurance,
specialised renovations insurance,
and buildings insurance on completion.
Costs & Fees: Signing up with Nu Projects
Our aim is to provide tailored service to our clients. As this is a bespoke service, the search criteria, size and scope of our projects can vary considerably.
As every project is unique, our fees are determined on a case by case basis. We offer reduced fees for clients who sign up for both our sourcing and design services.
If you are on the lookout for a new property in London and you need additional help or information, please call 020 7731 6841 or email info@nuprojects.co.
