FTB - Put our names down for our first house :)

katemb87xxx

Hi everyone, this is my first thread on here. Me and my partner have been saving to buy our own house for a while and have put our names down to register an interest for a new development near us by Wainhomes.

Was just wondering if anyone had any tips or advice with Wainhomes/new home developments...

PasturesNew

No, thank you for reminding us the ploys they get up to. "Early Bird" ...

I'd not buy a place off plan, what if your circumstances change between now and when you have to buy it? Your mortgage offer now will be invalid by then. You'd need a mortgage to be approved on your situation right then - what if you're under threat from redundancy, your OH's run off with your mate and when you looked round the estate you noticed that next door have 3 caravans, a boat and 14 huge dogs in the garden?

I'd rather buy something that exists, knowing the money's assured.

RAS

katemb87xxx wrote: »

Haven't had a mortgage offer yet, we have just given the required info to know that we will be able to get on nearer the time.

hi

No-one knows what the financial situation will be in 6 months, let alone two years.

If you had said three years ago that mortgages would be as hard to get as they are today, everyone would have laughed in your face and said you were stupid.

It may be easier, harder or the same. To pre-book a house when you have no way of knowing whether possible for you to get a mortgage would be madness.

cashbackproblems

Generally it is a great idea, I nearly bought one last yr, put down a deposit 5/6 months before completion and then circumstances changed so happily forfitted the £500. Most new developments in my area get sold instantly so dont listen to the negatives just based on peoples perceptions and look forward to a brand new home!

You just need to make sure the company is legit (one i nearly bought were Taylor Wimpey and they were great) but as long as ur only paying a deposit to hold the property your not tied down to anything.

PS. there was an article in the local paper few weeks back, where a new development due to be ready in 2012 in Docklands, 80% of apartments have already gone, not even a brick has been laid!!

poppysarah

Have you looked at ready built (older) houses?
Explore a huge variety before you comit to buying a tiny boxy newbuild.

Henry_P_Chester

cashbackproblems wrote: »

Generally it is a great idea, I nearly bought one last yr, put down a deposit 5/6 months before completion and then circumstances changed so happily forfitted the £500. Most new developments in my area get sold instantly so dont listen to the negatives just based on peoples perceptions and look forward to a brand new home!

You just need to make sure the company is legit (one i nearly bought were Taylor Wimpey and they were great) but as long as ur only paying a deposit to hold the property your not tied down to anything.

PS. there was an article in the local paper few weeks back, where a new development due to be ready in 2012 in Docklands, 80% of apartments have already gone, not even a brick has been laid!!

This is very dependant on the area. There is a new build development of flats near me that were completed two years ago and very few have sold, the price has been reduced twice now.

Personally I'd never buy off plan for the reasons already stated. For a real example of how things can go wrong google the Birmingham cube development.

cashbackproblems

Henry_P_Chester wrote: »

This is very dependant on the area. There is a new build development of flats near me that were completed two years ago and very few have sold, the price has been reduced twice now.

Personally I'd never buy off plan for the reasons already stated. For a real example of how things can go wrong google the Birmingham cube development.

At the time i researched these developments in great detail and hardly found any cases of people losing out, the only issue is with some new city apartments etc these only hold value when ppl are in jobs and the economy is good as a certain type of ppl buy these e.g. young professionals. Make sure you dont pay over the odds and u can also put in a lower offer and negotiate/choose your own fixtures+fittings.

I agree some developmens are "boxy" but not all and most in London sell quick due to supply n demand.

katemb87xxx

poppysarah wrote: »

Have you looked at ready built (older) houses?
Explore a huge variety before you comit to buying a tiny boxy newbuild.

Yeah we've been looking at our possible options the last couple years, but as we live in a touristy part of cornwall right by the sea the house prices shoot up because of this, and any decent houses we like the look of usually end up being holiday lets.

A few of our friends have gone down this option and are very satisfied with the size of the houses they got and aren't too boxy.

The plans for the development we are interesting seem quite generous, hence why we are really interested in these

PasturesNew

katemb87xxx wrote: »

as we live in a touristy part of cornwall right by the sea the house prices shoot up because of this, and any decent houses we like the look of usually end up being holiday lets.

near me

What's your budget? Where is the place?

I've been in one ... and they seem good build quality. Dinky gardens though. And car ports ... not good. Except the people in the "cheap seats" with the SO, who seem to get garages.

katemb87xxx

Porth Meadows at Par??

They are doing the affordables starting from 80k ish for 2 beds and 95k ish for 3 beds... depending which style house you want etc...

Old_Git

be really careful about what you sign .dont think if you pull out all you will loose is a booking fee or deposit
You can be taken to court for the whole lot .Story here