New Build/PX/Haggle

BettiePage

Don't buy it until it's built. What if they were to go bust? Make sure you do plenty of research first.

bluemrchimp

I agree - plenty of research is needed here. Look on mouseprice.com or nethouseprices.com which let you see how much properties have actually been sold for.

Note that new builds, particularly flats, are falling faster than the market as a whole.

It would be helpful to have a 'second option' for negotiating purposes even if you don't actually want it - i.e. be able to say to the developers, "well we really like this house you're offering but these other developers at <insert nearby development name here> have this amazing house and they offered us <invent low but plausible sum here>... etc etc."

I'd be wary buying a house that hasn't been built yet in this market. There's a real risk builders could go bust, or make a strategic decision to stop building.

zaphod_beeblebrox_2

BettiePage wrote: »

Don't buy it until it's built. What if they were to go bust? Make sure you do plenty of research first.

I agree, buying off-plan is risky, you don't know what your going to get and if it will be finished at all

Ditch your project and start again from scratch!

NoDebtForMe_2

You could take up to 20% off any of the prices you get for a builder. Then work on the incentives ie Stamp duty paid, carpets, solicitors fees etc etc.
Sarah x

missscotia

Just had a quick look on nethouseprices and the houses that both developers are selling at the moment seem to be going for the price they are selling them at? maybe they not looking at haggling with the prices up here :mad: :mad:

NoDebtForMe_2

Maybe they didn't ask for a discount?

zaphod_beeblebrox_2

Maybe they've got more money than sense

zaphod_beeblebrox_2

This was from another thread ....

Was at a house party last night, chewing the fat with a couple of friends (we all live in rented in the local area). Anyways, one couple who had owned but had moved out and tried to sell confessed the only way they managed to shift their old house was by effectively wiping out all profit they had earned. Wait for this. They have owned for 5 years. Ouch. Anyway, really really nice couple, got the market sussed down to a tee...

THEN go on to tell me they have put in offers that they considered 'insulting'. We are talking 25-30% off discounted prices here; they say they got laughed out the door for 4 out of 5, the 5th EA told them to get out the Office.

Anyways, that was mid September. Apparently, just before Christmas, 4 out of the 5 houses they put offers on came back and accepted. The couple then went back and gazumped them for ANOTHER 2K and ALL the couples accepted!

I CAN see trouble ahead in the next few months Land reg figures, especially if this is atypical of the market at present. I reckon what actually is happening is one of the following:

1) ONS are withholding or "delaying" sales figures from flat/newbuild sales to artificially prop up the HP average. Sick, but definately possible.

2) Figures for Land reg are about to fall off a cliff. More likely. Even if the ONS are doing 1), they will have to filter the figures in at a later stage, admit their 'mistake' and make things much much worse. I seriously think 3% falls per month could become the norm.

This crash IS accelerating. Welcome to the new dawn.

Happy New Year Folks.


Ps ONS = Office of National Statistics

missscotia

We have found out that Barratts have a nice 2bed with boxroom semi going to be ready about this time this year, so i assume it won't be released until later on this year for sale. Maybe this is would be better for mum to go for as the prices should go down a bit by then and even the new build house might take the serious dunt that they have to take. But then again mum would probably get lesss for her house. inbetween a stone and hard place me thinks as usual.

Paley71

Get your mum to sell now...then she can stay with you until the prices on the NB drop