Advice on New Builds Please

triggerrabbit

I am looking to buy a larger home for myself and my family at the moment. We currently live in a four bedroom detached property but space seems so tight that you could not swing the proverbial cat. I am concerned that we will have difficulty in selling our house due to the fact that few other houses in the area, (which is considered a desireable place to live) have sold over the last few years and the ones that have have continuously reduced price and been constantly on and off the market due to sales falling through.

This has led us to considering a new build part exchange scheme in order to secure a larger home. We have found a developmet by Taylor Wimpey that we like which offer a scheme where you only fully commit to buy if their agent manages to sell your property, which apparently takes less than 12 weeks.

This scheme seems ideal from the information on it that we have been given. Does anyone know of any drawbacks to this? Also compared to other new builds in the area it seems to be overpriced is there any room available to negotiate on price or is the price given to us likely to be unchangeable?

If anyone has any advice or suggestions on this I would greatly appreciate your help. Thank you

Owain_Moneysaver

triggerrabbit wrote: »

if their agent manages to sell your property, which apparently takes less than 12 weeks

And how much do you think their agent will manage to sell your house for within 12 weeks, if other houses have been difficult to sell?

I'm sure they can wrap up a lower sale price in some part-exchange mortgage deal for you but I doubt it will cost you less in the long term.

As for swinging a cat, a lot of new builds don't have room to swing an emaciated dormouse. You have checked for the dodges of removing internal doors, using shortie beds in bedrooms, etc to make the rooms look bigger?

Do you have the option of extending your current house - loft conversion, side/back extension, dig out a basement, put a games room in the garden? Do you have children who will move out (eventually...)?

triggerrabbit

Owain_Moneysaver wrote: »

And how much do you think their agent will manage to sell your house for within 12 weeks, if other houses have been difficult to sell?

I'm sure they can wrap up a lower sale price in some part-exchange mortgage deal for you but I doubt it will cost you less in the long term.

As for swinging a cat, a lot of new builds don't have room to swing an emaciated dormouse. You have checked for the dodges of removing internal doors, using shortie beds in bedrooms, etc to make the rooms look bigger?

Do you have the option of extending your current house - loft conversion, side/back extension, dig out a basement, put a games room in the garden? Do you have children who will move out (eventually...)?

We have checked the floor plans against where we currently live and there would be a lot more space and it also has a far more practical layout for our requirements. Our current house is 10 years old and comes with what was pretty much standard at the time for new houses, (concrete subfloor, garden equivalent in size to a pocket handkerchief and a tiny atic) so expansion or extension are really not options for us. Our children are young so the possibility of them moving out any time soon is non existent.

We own the house outright so can fortunately accept lower offers than most would consider accepting which should make the house more saleable. We liked the part exchange idea best but now are warming to this as we have small children and the prospect of having to keep our home in show home condition for the very long term does not even bear thinking about, in addition the disruption to their routine of having to ask people to mind the children at short notice when a viewing has been arranged.

andthatmakesone

Sounds like a lousy deal from the developer. Ask them if they will take your house in part-exchange (warning - they will not offer you the asking price!!). (Edit - just noticed you've already turned down the part ex route)

As for their asking price, don't make the same mistake I made and become emotionally attached to the property the first time you see it. As long as you would be willing to walk away, then there's no reason why you can't try and negotiate on the price. If they are over-priced as you say, then it's unlikely that the developer has people banging down it's doors wanting to buy.

Remember - they're desperate to sell to you. Don't let them think you're desperate to buy.

gabyjane

Owain_Moneysaver wrote: »

And how much do you think their agent will manage to sell your house for within 12 weeks, if other houses have been difficult to sell?

I'm sure they can wrap up a lower sale price in some part-exchange mortgage deal for you but I doubt it will cost you less in the long term.

As for swinging a cat, a lot of new builds don't have room to swing an emaciated dormouse. You have checked for the dodges of removing internal doors, using shortie beds in bedrooms, etc to make the rooms look bigger?

Do you have the option of extending your current house - loft conversion, side/back extension, dig out a basement, put a games room in the garden? Do you have children who will move out (eventually...)?

Was just going to reply as we have a new build (3 yrs old now)and read this first reply which was going to be part of my reply..not agreeing with the bold bit above but the fact that you will get lots of people slating new builds.yawn yawn!!

Ours is only a 2 bed town house but i think pretty big..dd could (but doesn't as i wont let her!) have a double bed in her room with adequate room for other furniture. We have a king size and 2 chests of drawers, 2 bedside tables etc and still lots of room..each bedroom has double fitted wardrobes in too. and dd's has a large storage cupboard. The lounge has a corner suite, big desk..bookcase..table etc and is a good size..the kitchen is a diner too and fits a 4 seater table and chairs.. a USA fridge freezer..and we have ample cooking space and cupboards etc. We have a drive, garage, and a biggish garden with decking too. They are not all tiny and rubbish! Oh and we have 2 cats who have ample room to be swung round if the mood should take us!!

As for part ex etc i have no idea sorry but just felt i should let you know there are some nice new builds out there!

Good luck with your move x