New builds - can I get a discount?

amr_scotland

Hello everyone.

I have been a long-term lurker and frequently refer to these forums for info, so a big thank you to everyone who as ever posted :T

I have decided to get on the property ladder, I want a nice, comfortable place of my own to settle down with my new wife. I have spotted a Taylor Wimpey new build that I quite like so I went up to visit the site. It's mostly a building site at the moment but there are a number of houses which have been sold and are being lived in.

I saw a couple of mid-terrace and one end-terrace which are yet to be sold. All three are in the region of £129,000 although I have seen at least one on s1homes.com discounted to £121,000. I really do like the houses but even at £121,000 it is more than I want to spend.

My question is, realistically in todays market, how much discount could I get off the current asking price in? What advice would you give? Has anyone had any recent luck?

Thanks for your help.

Gwhiz

Why not offer at 20% off (or whatever you think the property ifs worth) and see. They can only say no.

Nothing ventured, nothing gained.

double_mattress

hmm, I am in a similar situation, i have no idea what is a resonable offer to make at the moment, and as it all depends on mortgage approval i doubt i have much leverage. Will be interested to hear how you get on.

delmar39

We've just bought a new build, but on an individual plot of land in the middle of a village i.e. not on an estate. It was up for £245,000 and we managed to get the builder down £5k, so just over 2% off. Not a lot, but it all helps. There are no other houses up for sale in the area and when they do come up they get snapped up so we know it could have sold for the £245k so are happy with a small discount.

Always a problem looking at places above your budget. Should you be looking at properties you cannot afford? Don't get me wrong, there's nothing wrong with looking for a deal and there's nothing to say you won't get one, but if it's out of reach in the first place you're in for some heartache. Offer what you can afford to offer, but be prepared to walk away if you cannot secure a deal. New builds will sell so securing a large discount won't be easy. Good luck.

Kyrae

The houses you're looking at are already built? Just checking you're not buying off plan!! If the built houses were finished some time ago might be worth checking the land registry to see how much they sold for. Offer whatever you think is a fair price based on how much similar properties nearby have sold for, then take it from there. If they won't budge much on the price then at least get some free extras too like free carpets and vinyl, turf, and maybe stamp duty paid!

amr_scotland

Hi,

Yes the houses I have seen are already built. I understand about not going beyond your means, I have set myself a limit and as it stands the price of the house is above that. I was hoping to try and negotiate a discount and bring the price down. At the end of the day if I am not able to get the price down to within my limit I will walk away.

I was hoping for tips/success stories that might help me negotiate, anyone else have any tips?

Thanks.