Haggle on a New Build?

SavingSteve

Me and OH have been saving for a few years and with the market moving in the direction we want it to we're looking to take the plunge in the coming year. Looking for 4 bed detached.

We've been looking at New Builds and old properties. OH likes the idea of New Build. Having looked at the market we have a few developments we're looking at.

Seems a silly question, but haggling on a new build is possible? What are the likely discounts possible? Are there any pitfalls to know of?

Also, have tried using the search but couldn't find anything, is there somewhere which might compare which builders firms are good to deal with and which are not?

downs523

you can get massive discounts from new build propertys these days im sure ppl will post there views and stories shortly

vyle

SavingSteve wrote: »

Me and OH have been saving for a few years and with the market moving in the direction we want it to we're looking to take the plunge in the coming year. Looking for 4 bed detached.

We've been looking at New Builds and old properties. OH likes the idea of New Build. Having looked at the market we have a few developments we're looking at.

Seems a silly question, but haggling on a new build is possible? What are the likely discounts possible? Are there any pitfalls to know of?

Also, have tried using the search but couldn't find anything, is there somewhere which might compare which builders firms are good to deal with and which are not?

It's very possible. I haggled down 45k off the asking price of one, and put the reservation down yesterday, with appliances and carpets thrown in. Just got a call from their competitor offering us 55k off their price with the same perks.

Now im going to have a tough decision to make - take the one I love at 45k, go with the one that's 10k cheaper, but wont be built until october, or try and get the current one to match/meet half way. I dont know how convincingly i could haggle that, though because I want it so much that I dont know if I'd pull it off.

but yes, it's very possible to haggle.

SavingSteve

Thanks for the fast responses!

We're a few months away from seriously looking, but just scouring the market there are a few new builds which we would seriously consider, just we thought the prices were a tad too high.

Having the knowledge that haggling is totally possible will help us go in with confidence when/if we do go to see the places!

zone

Easily possible to get a discount on any property. How much you can get off will depend on how many offers the vendor has received etc. What is your price range?

SavingSteve

We're looking in the £450-550k range. The new builds are at the very top of the range, similar spec 'old builds' are listed around the middle, though am sure the old ones can be haggled down to the lower end of the range.

What sort of % is possible do you all think?

Premier_2

Everything is negotiable

If you believe some of the stories/suggestions on here you shouldn't offer more than 30% of the asking price :rolleyes:

Bottom line is it depends on the traditional elements of your position to proceed quickly and the demand of the property in question. e.g. if you have nothing to sell you can usually get a nice ftb incentive.

Note however that incentives work both ways, and developers would prefer to offer more for the same money rather than reduce the price (e.g. because those £5k worth of carpets probably only cost the builder £1k-£2k because of his purchasing power)

The other thing to look today is the actual initial asking price. Is it actually realistic, or is it still OTT caused by the Inside Track effects (usually overpriced, river/dockside appartments)

SavingSteve

Inside Track effects?

I think the initial asking price is, in the current climate, OTT.

E.g. if they are asking 545 I think they would never get more than say 520.
But I don't want to pay 520!

This is all very interesting, i suppose some of the suggested 'added extras' may work out better, but am sure some of the stuff I would not want at all.

storminbalder

Buying in todays market! Madness!:eek:

naijapower

Yes, it is possible to get good discount depending on your haggling power.
Also, it is true that some builders would lend u physical cash for your deposit to ensure quick sale. In this way they now have an interest/charge on the property

SavingSteve

I don't see why buying in the current market is madness?

If I am able to secure a hefty discount why wait until the bottom of the market when every Tom, !!!!!! and Harriet will be on the market competing with us?