Buying a New Build?? Please help

claire9875

My house has recently gone on the market, 3 weeks and no interest so far, not that I expected a miracle.
We have been to see a couple of houses but I didn't want to get my hopes up until I sold ours, but we have been looking around the £169k mark.
My husband and i have been to see a few new builds today and really like the look of one.

However the price on it is £189k. This has put him off a bit but I'm sure there is a deal to be done. They offer a part ex scheme, pay your legal fees, estate agents fees etc which I understand won't get me exactly the price I want to sell mine for but surely I could use any difference in any negotiation for upgrades on fittings etc.

Can anyone advise me if it's right to go in with a cheeky offer on one of the new builds following an agreement on a part ex price with them? I found it a lot easier being a first time buyer before! Just after a bit of steering in the right direction.

claire9875

Anybody?

claireyfairy_2

Don't do it! We bought a new build and never again. We moved less than 2 years after. However, if you do decide it's right for you.....Haggle! I knocked Barratts down by 24K and got a conservatory and carpets. They are desperate to sell, so be cheeky!!!

jaspercabbage

I agree with claireyfairy on this having recently bought a new build. But as you are part-exing like we did, you are not in as strong a bargaining position as other buyers, and they will use the fact that they need to sell your property quickly as an excuse for giving you a poor offer on your home.

However all builders are struggling to offload their houses at the moment so be sure not to accept their first offer, because they are like car salesmen, and the price on the windscreen is just a starting point for negotiations.

Natty082

Offer low low low

We got 40k ish off a new build. Carpets, legal fees paid, stamp duty paid ...... it need to be a good deal to be worth buying as new builds are overpriced.

If your first offer doesn't embarass you.... its not low enough.........

Jonbvn

Given the news today, you must be looking at offering below 175k.

FraudBuster

And there is this:

New rules have come into force to stop mortgage lenders becoming the victims of over-inflated property valuations.
From now on, developers and builders must reveal if they have offered buyers incentives, such as cash-backs, fitted kitchens or paid-for legal fees.
Lenders are worried these incentives have led to some properties being sold for more than they are worth. In particular they have been worried about newly built city-centre flats, whose prices have now slumped.

http://news.bbc.co.uk/1/hi/business/7592106.stm

Mutton_Geoff

Try to look at it another way. Your cost to change house. Work out what is good for you, ie a realistic valuation of your sale, what you'd like to pay for the new one etc and you'll come up with a figure of say £50k difference in price. Stick to that figure and tell the developer they can have (say) £50k plus your house. Let them worry about what they value yours at or what they are effectively selling the new place at, you just need to be certain that the exercise won't blow your budget.

If the developers later valuation of your house comes in, say £10k lower, they should be in no doubt that your budget is still £50k and they will know what to do. You won't get caught in a nasty revaluation/reoffer situation further down the line.

SquatNow

New-builds loose 25-30% of the value the day you move in.

Treadmill

SquatNow wrote: »

New-builds loose 25-30% of the value the day you move in.

Its 6% for valuation purposes, just had one done on a new build so I know.

Treadmill

Jonbvn wrote: »

Given the news today, you must be looking at offering below 175k.

The builder will have to take under 175K or they will never sell it.