Offer on a new build that the builders just can't sell?

pimento · 19 October 2011 at 8:31PM

RecoveringAlcoholic wrote: »

I have friends who have lived in Tesco car parks.

Did they pay £300k for the privilege though?

glasgowdan · 19 October 2011 at 8:43PM

The joys of buying new builds! You never know what the surroundings are going to end up like. I suspect no matter what you do you will lose the £500.

In general, both of the houses in this thread are going to lose value over time. No way will they be worth more than £300k in 10-15 years, especially as the build quality won't be up to that of older houses, and the development surrounding them continues.

I would walk away, in both instances.

jimpix12 · 20 October 2011 at 10:36AM

Can you paste a link to it so we can see pricing etc in the area? You can use http://goo.gl if you don't want the link to show here.

You need to decide what sort of effect the Tesco will have on your quality of life, i.e. noise levels, crowds, parking, views. Is it a 24 hour place. etc. If the housebuilder is desperate to sell as you say, an offer of 20% below asking price may work... If you want it, that is. But from the sound of your post it sounds like you're "making do" which is something personally I would not do when it comes to house buying. Negative equity etc means you'll probably be there for 5 years minimum - a long time to put up with HGVs delivering at 4am.

The church may actually be a plus if it has bells etc, but I don't know if newer ones bother with that? Make sure it is a church rather than a "place of worship" or "temple" which my friend discovered was actually a by-word for mosque. i.e. call to prayer etc.

Dr_john_4 · 20 October 2011 at 10:43AM

My only comment is that you have a good position in negotiating a good price with the builders. Only yourself can decide if you could bear living near the Tesco. Personally, I would for the right price.

Chimpofdoom · 20 October 2011 at 11:00AM

Dr_john wrote: »

My only comment is that you have a good position in negotiating a good price with the builders. Only yourself can decide if you could bear living near the Tesco. Personally, I would for the right price.

Indeed, plus the advantages of having a supermarket on your door step.. no petrol costs in travelling to and fro.. and of course should you need a pint of milk etc etc

Viewed from a purely money saving approach of course

But from what I remember about my partners old flat, she complained about the noise coming from the co-operative that was beneath her flat, their deliveries were restricted to 8am-8pm by Environmental health.

GDB2222 · 20 October 2011 at 12:05PM

It's obvious what you have to do in both cases, namely make an estimate of the revised value of the house assuming an almost-worst-case development of the surrounding land. Then you have to act on that and not pay a penny more than the new valuation. If that means losing your reservation deposit, so be it, but it's better than paying £100k over the odds.