New build - would you?

Mazzawa

Ah ha! Might be worth asking if they would accept 35% lower just for the heck of it. Nothing to lose!

hcb42

I would definitely make a cheeky offer. It's been done before and people have got great deals

sterlingstash

We've only ever lived in fairly new houses. One 7 years old then an off-plan new build for this last year. We found that our money went so much further with our new build. An extra bedroom and of course fully farkled kitchens and bathrooms etc. This is mainly because the builders were willing to do deals (2009 - they were staring bankrupcy in the face) whereas private owners simply couldn't bear to take a hit on their properties. I disagree about lack of space - I find new builds make very good use of the space compared to the older houses. Of course, you sacrifice garden size as the plot is much smaller, but overall we have much more living space than we would have done in a similar priced older property. And then there is the bonus of no big bills likely while we are in it, and the lower energy costs etc etc. For sure, the downsides are the tight roads and inconsiderate parking. We quite like the mixed housing, and our most friendly neighbours are from the shared-ownership/community housing. The community will take some time to bed in but that will come.

If you are considering new build, then try and look past the showhome glitz. Remember to factor in the cost of extras (easy to spend £10-£15k). Definitely look to negotiate a hard deal with the builders (We got £40k off a £290k house with flooring, carpets thrown in - may not be quite such a buyers market now but still definitely some hefty discounts still to be had).

I sometimes have wistful thoughts about renovating an older property and being able to add value and add on extra space. However, friends who have done that have found it soaks up huge amounts of time (we never see them), and the costs can so easily be underestimated. New builds are for sure a lazy option, but we make sure we enjoy the extra time and money we've saved!

Mazzawa

I suppose the cheaper the deal I can get, potentially the greater scope there is for a good inflation over 5 or 6 years so we can sell and can buy an old property...This may work. Will go and investigate at the weekend, going to drag the other half for a day trip!

WelshNic

I can't comment on the shared ownership side of things but IMO there is nothing wrong with new builds providing you pick the right builder/development/plot. I'd avoid huge estates and box shifters such as Wimpey + Persimmon, check out you have adequate parking - prob the no 1 issue on new build estates as highlighted above.

We're about to buy our 3rd, it's on an estate of less than 40 houses - as is our current one - and we're happy with all aspects we've seen so far, plot, build quality etc. My OH has worked in the industry for a long time for many of the big names so we know exactly what we're looking for.

Part ex will give you less bargaining power as they're buying your 'problem' but as the old adage goes 'if you don't ask'...

Mazzawa

Sterlingstash - can I ask what company built the properties you have owned? There is a lot of building going on up here to very likely there will be a development nearby!

sterlingstash

Ours was with Bryant, which was then taken over by Taylor Wimpey. We have been pretty happy with the build quality. The site manager won an NHBC quality award I think. There are always niggles, but TW have generally been good at sorting them out. Things may vary by site though, so may be worth going to see the last site that the site manager was responsible for.
New builds are built to tighter tolerances than the old Victorian houses, so you can't chuck too much heavy stuff up into the loft. But the new heating systems are great (pressurized hot water tank for power shower experience).

azkaban420

Mazzawa just to elaborate on my pet-hate of shared-ownership deals, most usually they are too good to be true, and I would just rather own all of my house than part of it in such a volatile market. If in 10 years time, the housing market takes a complete snow-dive and what the builders gave you as an 'assist' in the beginning is now less than half what it was, you can be sure they'll find other ways to get the money + interest out of you. You'd also be stuck to re-sell if you had to sooner rather than later, and all the other horror stories attached. If you search the forum for shared-ownership threads, most of it is negative rather than positive.

Having said that, it is down to individual decisions. What is not for me, may well be ideal for you.

Just research well before you commit to anything and most definitely try to drive down the price you buy the new build at - there is ALWAYS room for good negotiation

Good luck,

Az

Mazzawa

Thanks azkaban, I think we'll go for a look at least (might hate it!) and if we like it try and haggle it down so we don't need the equity! I would rather be free to do what we want than potentially tied down to a deal so will try and avoid if possible!

danielley

I'm due to complete on a new build on Thursday. I have owned 3 houses prior to this one, 2 Victorian, 1 1960's.

For the past 3 years I kept my eye on both old and new build houses and my main criteria was;

a) was south facing
b) had a decent sized garden
c) didn't have tiny bedrooms

Everytime I found a house that had a good garden, it didn't get the sun, if it got the sun, it had tiny bedrooms etc.

I will miss the period features of my Victorian property, but to get the kind of house I want, with period features, is way out of my price range.

One last comment with regards to cardboard walls, I can hear my neighbours in my Victorian terrace at the moment, so not all older properties have thick walls.