New Build Townhouses

QTPie

Jazzyjeff wrote: »

It's all about the right price and right opportunity...

I agree: I think that you have to buy what is right for you, when it is right for you. You may or may not get the biggest bargain possible, but life isn't JUST about money... It is important for you to make a deal that you are completely happy with and to go from there. Not everybody can (or wants to) stall life for the next couple of years.

Jazzyjeff, let us know how you get on

QT

RobertoMoir

Jazzyjeff wrote: »

Yes finished for around 6 months and then last touches, carpets etc. Completely finished at least 2 - 3 months.

The lady showing us round who they hire at weekends let on they had only sold 1 in the last 6 months (4 of 8 sold in total) and were willing to accept offers but in the past had rejected £60 - 80k off. Hopefully as things have got worse since then they may be more willing to negotiate now.

Is them paying the stamp duty something to go for? Or as they are a small developer it means exactly the same as cash off the asking price really?

At the moment, a quote I saw on someone's sig around here rings true:
"If they don't burst into tears when you make your first offer, you haven't gone down low enough".

If they're a small developer and they've only sold one in 6 months, they're probably well on the way to being desperate to liquidate those particular assets to fund their next projects.

Luck!

mrs_deadline

As you say the garden is small, which tends to indicate quite a high density of building, don't forget to check out the parking situation. Half the townhouses in our street seem to be rented out as shares, so you end up with four tenants sharing houses that only have two parking spaces. Getting in and out can be a real problem with all the extra cars parked inconsiderately.

Jazzyjeff_2

mrs_deadline wrote: »

As you say the garden is small, which tends to indicate quite a high density of building, don't forget to check out the parking situation. Half the townhouses in our street seem to be rented out as shares, so you end up with four tenants sharing houses that only have two parking spaces. Getting in and out can be a real problem with all the extra cars parked inconsiderately.

Parking is 2 spaces or a garage and 1 space with everything arranged (shrubbery etc) so this is the max and any other parking would probably block people in. Parking on the road residential to stop Uni people parking there.
A good point to consider

cranezoe

we looked at buying a townhouse new build too a few months ago. really loved it! and so did other people who had seen it. Fantastic that you get the space spread out, though it is a shame to lose on the garden.
the one we saw (was geroge wimpey -house called delamore) had two great doubles and a lovely huge master room on its own floor with ensuite. we loved it.

couple of things put us off so thought I'd mention it. One was that it wasnt yet built which I understand isnt your situation. good! It also didnt have a garage next to it.
the other thing was, we already have a little one. she is two. and while it would be great for older children to have the space of a whole floor we decided that it would be quite hard traipsing up and down stairs in the night to feed/comfort/find teddy etc. It would be harder to hear her if she got up. we'd have to use stair gates to block off both stair cases. we would like to have another baby which would increase the amount of going up and down the stairs and keeping an eye on two of them. and I think with little children its quite hard to live over 3 floors.
the garden being small is quite off putting if you have kids too.

Im just saying this because you said about eventually having kids, and prehaps its not things you've thought of.

QTPie

Jazzyjeff wrote: »

Parking is 2 spaces or a garage and 1 space with everything arranged (shrubbery etc) so this is the max and any other parking would probably block people in. Parking on the road residential to stop Uni people parking there.
A good point to consider

So what to you do with visitors?

Our situation here is:
- a garage
- one assigned parking space (which is ours alone to use)
- PLUS two parking permits to be used (in addition to our own space) on a "space available - first come first serve" basis on the "common" parts of the private roads.

So we have completely parking for two cars and parking limited to just people within our development for two cars: so upto four cars in all. Additionally there is un-restricted on-road parking in the roads around the development (we haven't got that desperate yet).

The private roads in our development (hence the parking permits) are policed by a towing/clamping company. They are pretty darn useless, BUT put the majority of other road users off of parking within the development. If we didn't have the "residents parking only - clamping and towing in force" signs up everywhere, parking here would be a nightmare! (we are in a very popular city and very close to a big hospital).

Parking is definitely something to be aware of in any new development (most of which are high-density), as mrs_deadline points out.

QT

Jazzyjeff_2

Visitors not a problem as would mainly be off peak so road parking and would get some temp passes / permit etc for other times. No-one else uses the road as big houses with big drives. Same as where we are now - in a flat so visitors park in the road - better all round really as it can be a hassle parking on someone else's drive, I prefer it myself.

zone

If you can get it for closer to £300k that would seem like a good deal. But hard to say without knowing the area and specifics. Theyve reduced the price a bit so are probably looking for offers around £350k i think..but you never know.

GDB2222

Jazzyjeff wrote: »

Is there not a counter argument that less new properties are currently being built due to the current economy / falling prices so IF a developer is desperate enough you could make an offer and get a house cheaper now than when mortgages have picked up / economy is recovering / and there is more demand leading to closer to asking price offers....Also as demand picks up the 'better' houses will be snapped up first.

It's all about the right price and right opportunity...

I can see the concern there, but I am reasonably certain that property prices in general still have a long way to fall. There was talk of 40% off the peak in the news yesterday, which may not be that far off the mark, and we have so far had less than half that. The futures market is indicating a further 20% - 30% drop from where we are currently. Property prices are still very, very high when measured against earnings, and the recession seems to be getting worse, not better. The US is about 18 months ahead of the UK in the property cycle, and property prices there are falling faster than ever.

Of course, that could all be wrong, and the government may get the banks to start lending again, like there's no tomorrow......

In the meantime, there are two competing anxieties:
The anxiety that you may get left high and dry by the next boom unless you buy soon, and
The anxiety that you may end up with an over-priced property and a massive mortgage liability.

At the moment, with prices continuing to drop very fast indeed, I cannot see that that momentum can simply be turned around in just a few months. So, I'm more concerned about the second anxiety than the first one.

QTPie

GDB2222 wrote: »

Of course, that could all be wrong, and the government may get the banks to start lending again, like there's no tomorrow......

God I hope not... far too many people are in FAR too much debt as it is (not thinking so much normal mortgages on houses, but the credit card debts and other loans that people run up on various rubbish...)

QT