Taylor Wimpey Part Exchange

Babiesmummy_2

We are looking to move from Manchester over the Pennines to Barnsley/Sheffield area due to my husbands job. We had a look around yesterday and are very interested in a new Taylor Wimpey which is currently just being developed (very new development only 18% sold). The asking price of the house is £239.995, but we are interested in a possible Part Exchange, I just wanted to get an idea of how much below market value do builders usually offer for part exchange (we have had a valuation on our property of £190,000) and if they offer a part exchange would they usually budge on the asking price ?

Our current house isn't on the market yet but are currently getting valuations, my husband has been driving between Manchester and Sheffield for the last 5years so we are in no hurry to move but we are currently in a better financial position now than we were, but our youngest would be due to start school in September 10 so ideally would like to move before then.

This is our first house move in 12 years so I am a novice at this and any help would be appreciated.

TIA

Millerdog

Not sure if this is still the case but many years ago when I worked in new home sales, if you were doing a part exchange you had to trade up in value by a minimum of 25%.
i.e. Your house value £190000 plus 25% of its value £47500 would mean a minimum purchase price of £237500. So if this still applies you would only have a couple of thou 'wiggle' room! You may be better off asking for white goods, garden turf etc.than a price reduction. I am sure that peeps with more up to date info will be along soon to offer advice. Good Luck.

WillWalton

We've just been through the pain of trying to get a part exchange with Taylor Wimpey. The criteria for this is currently that your existing house must be less than 70% the value of the house you want to purchase off them. (Not suire if this value is different depending on the area the new development is in)
Their independant valuers (x2) valued our existing house at 160k and 140k. Unfortunalty Taylor wimpey offered is 140k as part exhange!! Thats 17k less than we bought it 4 years ago. And I know that houses on the street are selling for more than 160k.
I know they want to make a small profit on selling our house but come on! you'll make lots of profit on the optional extras anyway (Carpet £1800!)
This is the same thing tat happened to my friends parents. My advice is only part ex if you are happy to loose money on your existing house.

bodgerx

WillWalton wrote: »

We've just been through the pain of trying to get a part exchange with Taylor Wimpey. The criteria for this is currently that your existing house must be less than 70% the value of the house you want to purchase off them. (Not suire if this value is different depending on the area the new development is in)
Their independant valuers (x2) valued our existing house at 160k and 140k. Unfortunalty Taylor wimpey offered is 140k as part exhange!! Thats 17k less than we bought it 4 years ago. And I know that houses on the street are selling for more than 160k.
I know they want to make a small profit on selling our house but come on! you'll make lots of profit on the optional extras anyway (Carpet £1800!)
This is the same thing tat happened to my friends parents. My advice is only part ex if you are happy to loose money on your existing house.

Builders are always going to give you the bottom end of any valuation - they have to get rid of the house themselves eventually - and in this market its a risk. If the development isn't that far along you'd be better off marketing yours priced to sell, so that you can get through it within say 3 months.

bigkevgray

Beware Beware Beware. Wimpey build quality and customer service is way below sub-standard. Check out www.bewareofwimpey.com to see what you could be getting yourself into.

Babiesmummy_2

We have scrapped the part ex with Taylor Wimpey and gone ahead with Bovis

divikseth

2012 I was offered Taylor Wimpey show home for £240000. This is at Chancel Park Pinhoe Exeter. The original asking price is £ 270000. The similar houses in the same development, which are not show homes were sold for as low as £199995. Is it worth spending extra £40000 for a show home?

divikseth

2012 I was offered Taylor Wimpey show home for £240000. This is at Chancel Park Pinhoe Exeter. The original asking price is £ 270000. The similar houses in the same development, which are not show homes were sold for as low as £199995. Is it worth spending extra £40000 for a show home.

terrierlady

depends on the extras you get curtains carpets etc plus all white goods landscape gardens still seems expensive to me

Kilty_2

terrierlady wrote: »

depends on the extras you get curtains carpets etc plus all white goods landscape gardens still seems expensive to me

A relative has just bought an ex show home for £40,000 less than the first owner paid for it, so I imagine the extra money disappears when it comes to resale :eek:

divikseth

Many thanks for the response. I have been informed that it has now gone on a part exchange offer suject to valuation.