Section 38 Agreement Housing: What You Need to Know
If you`re looking to buy or build a new home, you may have come across the term “section 38 agreement housing.” This is an important concept to understand, as it can have a significant impact on your property purchase or construction plans.
Firstly, what is a section 38 agreement? Essentially, it`s an agreement between a local authority (such as a council) and a developer. The agreement sets out certain conditions that the developer must meet before the local authority will adopt the roads and other infrastructure serving the development. This ensures that the new roads and infrastructure are constructed to a high standard and are maintainable in the future.
Why is this important for homeowners? Well, if you`re buying a property in a development that has a section 38 agreement in place, it means that the roads and other infrastructure should be of a high standard. This can be especially important if you`re buying a property off-plan or before the development is completed, as it gives you some reassurance that the developer is meeting certain standards.
It`s worth noting that section 38 agreements can cover a wide range of infrastructure, not just roads. For example, they may cover footpaths, drainage systems, and street lighting. Again, this can be reassuring for homeowners, as it means that all the necessary infrastructure is in place to support the development.
For developers, section 38 agreements can be seen as a bit of a burden, as they require the developer to meet certain standards and carry out certain works before the development can be adopted by the local authority. However, they can also be seen as a way to ensure that the development is of a high quality, which in turn can make it more attractive to potential buyers.
It`s also worth noting that section 38 agreements are just one type of agreement that can be put in place between a developer and a local authority. Other types of agreements include section 278 agreements (which cover works to existing highways) and section 106 agreements (which cover contributions towards affordable housing and other community infrastructure). All of these agreements are designed to ensure that new developments are of a high quality and are sustainable in the long term.
In summary, if you`re buying or building a new home, it`s important to understand what a section 38 agreement is and how it can affect your property. By ensuring that the roads and other infrastructure serving a development are of a high standard, section 38 agreements can provide reassurance to homeowners and help to make developments more attractive to buyers. As a professional, I can say that it`s important to include relevant keywords such as “section 38 agreement housing” and “infrastructure development” to optimize the article for search engines.
