Reserving a New-build

Lawty123

Hello All,

Just a little bit of advice - I have been advised that a plot I want on a new build is up for release this week, I have already given Miller Homes £250 to secure the plot on release and its now time to attend and 'officially secure the plot'.

Miller Homes have invited for a meeting next week to sign the necessary, however having never bought a new build I'm just wondering what discounts to ask for - people keep saying 'demand everything', but what can I realistically expect to get and at what price??

The house is listed at £199K - will I expect them to offer this at a cheaper price or will I have to haggle like mad to get anything off this price?

Any advice would be grately appreciated.

Chris_Hinds

We just bought a new build for around that kind of money and we got:

5% Price reduction/Deposit Contribution
Carpets and Ceramic Tiles throughout
Small Patio Added
Power to Garage Added
£400 off £3500 of additional "extras" that we'd asked for

That was with David Wilson Homes

Kind regards

Chris

F_T_Buyer

I agreed a price before reserving.

Richard_Webster

What are similar 5-20 year old houses in your area worth? You might pay £5K more than that for having anew house but be aware that in 10 yaers time nobody is going to pay more because a house is 10 rather 20-30 years old.

Don't listen any rubbish about how the price is less than the one down the road they sold for £210K a few months ago - the people probably had their eys shut - look at other local comparables. Then go in to their sales office and say that you are thinking about whether to buy a new or second hand - the second hand ones are so much cheaper so a new one to you is only worth £xxx,xxx. Any discounts and goodies should then work round to get as near as you can to your figure. They won't like it but should you be paying more than you need to? Be prepared to walk away and buy an older and probably better built house.

Mortgage LTVs are worked out on the discounted price and the value of any furniture, white goods etc will be taken off the value for mortgage purposes.

poppysarah

Ignore the shiny shiny and go look at other properties in your area.

This sneaky method of "releasing" tries to create a sense of demand.

Don't be suckered in to paying excessively for a shiny new build. It's like a new car - loses value as soon as you move in.

BadgerFace_2

Sorry to say, but the first mistake was paying to 'pre-reserve', they know you want the house now. The best tactic may be to say that you still want the house, but your circumstances have changed slightly, so you're not sure if you can still afford it.

Lawty123

Thanks for the reply.

Unfortunately my circumstances have changed as of today, as my house which was sold (subject to contracts) has now fallen through, as the buyers cannot get a mortgage approved. So I'll be telling Miller homes that I cannot afford the new build without alot of discounts/extras.

guess they will just have to wait and see what happens with mine now, before I can proceed.

kaylz39

Just wanted to bump this up to see if anyone else has any experiences they want to share.

Like the OP myself and my Hubby have just paid a £250 earlybird fee for a Miller Homes plot we've seen. The house price is still to be set and the plot hasn't been released for sale yet- they say they have no idea when it will be.

We've only viewed the showroom but have seen the foundations for the plot have been laid and its due to be ready for November. It seems strange that they don't even have the cost worked out yet, they've already sold one next door which didn't have a garage so you would think it would be £5k ish additional > but we'll have to wait and see.

Any advise anyone has regarding what happens next would be great.

Really interested to know what demand power we have when it comes to the final figure we pay & extras. We fell in love with the showroom which we think has a lot of extras i.e upgraded kitchen, granite worktops, fitted wardrobes etc > can we include any of that in the deal? They're already matching our deposit up to 5% but would be great to get some additional's thrown in?