New Build buying advice

BASFORDLAD

If you pull out theres a big chance they could sue you....

peld

poppysarah wrote: »

Being very keen on a property is one thing when it's a unique old building with bags of character. But if you get off on some shiny new build with all the character of an uncreased carrier bag then that's really something else.

Thanks for that wonderful helpful input (along with your other post in this thread).

If you pull out theres a big chance they could sue you....

Yes we know we are legally obliged to buy the place once we exchange, thats why I was wondering if anybody had experience of negotiating a new price when there is a large gap between exchange and completion.

ILW

I think if you do a search you will find loads of posts about people being sued and made bankrupt by developers because values have dropped between exchange and completion. I would strongly suggest not getting into any contract with the developers until the place has been completed AND valued by your lender.

poppysarah

peld wrote: »

Thanks for that wonderful helpful input (along with your other post in this thread).



Yes we know we are legally obliged to buy the place once we exchange, thats why I was wondering if anybody had experience of negotiating a new price when there is a large gap between exchange and completion.

You're getting excited about something not built.
Yes you can negotiate but you could also find a fairly new build estate that's been repo'd to heck and bag a real bargain there instead and actually buy a house that exists.

Don't get excited about plans and promises as they are both meaningless. I think there was a post on here about someone who's new build dream open plan area was full of structural supports and not as promised.

See it buy it. Don't dream it buy it.

10% deposit gives you a good negotiating tool.

BASFORDLAD

Why not start of with a properly built soild terraced house.
I really wouldnt want the hassle of a poorly built small house full of plasterboard.

I think you need to take a reality check on buying a house. From experiance you will learn the new builds are not worth the hassle.

peld

At least thats a bit more of a relevent reply.....

We know we could get probably get a bargain right now, but we dont have a 10% now!!! This new build is attractive to us as we could potentially get a new house next year at todays prices. The are a few new (recent) builds close by and going on asking price, i'd say this was about £10k more expensive. However, there is no saying the price of the recent builds will stay that low in a years time, and they may need some work or redecoration.

(The design of the houses are the standard builds, we arent asking for anything special)

peld

BASFORDLAD wrote: »

Why not start of with a properly built soild terraced house.
I really wouldnt want the hassle of a poorly built small house full of plasterboard.

I think you need to take a reality check on buying a house. From experiance you will learn the new builds are not worth the hassle.

We are currently both homeowners!!!

BASFORDLAD

My apolygies

But i certainly wouldnt buy something off plan.

ILW

peld wrote: »

We know we could get probably get a bargain right now, but we dont have a 10% now!!! This new build is attractive to us as we could potentially get a new house next year at todays prices.

It really is 2006 again, sign up now Rodney, this time next year .........

tek-monkey

peld wrote: »

We know we could get probably get a bargain right now, but we dont have a 10% now!!! This new build is attractive to us as we could potentially get a new house next year at todays prices. The are a few new (recent) builds close by and going on asking price, i'd say this was about £10k more expensive. However, there is no saying the price of the recent builds will stay that low in a years time, and they may need some work or redecoration.

Imagine if you'd done this last year...