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Taylor Wimpey/HB reduction in price
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jimpix12
Posts: 1,095 Forumite
I'm interested in a new development by Taylor Wimpey, they have built most of them like sardines but the ones on the fringe of the development are nice, but obviously overpriced.
Link: http://www.taylorwimpey.co.uk/newhomes/south+west+thames/leybournechase/plot2-thefinsbury/
As per above TW are selling the house I want for £400k with no extras. They offered me 5% off that price, which appears to be the standard discount which is offered to anyone who even looks at the salesman :cool:
I was looking for a Used price to see how much of a premium new homes command and there is an identical one for sale on Rightmove! For £60k less, only a year old: http://www.rightmove.co.uk/property-for-sale/property-34681907.html?premiumA=true . LR figures say they paid £380k for it, i.e. 5% off.
That's some depreciation, and it's been at that price for 5 months. With all this in mind, what sort of discount should I be pushing for on a new one - for them to match this price? Beat it? I understand they have costs that a used seller will not have, just wondered on people's best discounts they've achieved on new builds... Or likewise stories of plunging values after a year etc.
Link: http://www.taylorwimpey.co.uk/newhomes/south+west+thames/leybournechase/plot2-thefinsbury/
As per above TW are selling the house I want for £400k with no extras. They offered me 5% off that price, which appears to be the standard discount which is offered to anyone who even looks at the salesman :cool:
I was looking for a Used price to see how much of a premium new homes command and there is an identical one for sale on Rightmove! For £60k less, only a year old: http://www.rightmove.co.uk/property-for-sale/property-34681907.html?premiumA=true . LR figures say they paid £380k for it, i.e. 5% off.
That's some depreciation, and it's been at that price for 5 months. With all this in mind, what sort of discount should I be pushing for on a new one - for them to match this price? Beat it? I understand they have costs that a used seller will not have, just wondered on people's best discounts they've achieved on new builds... Or likewise stories of plunging values after a year etc.
"The only man who makes money from a gold rush is the one selling the shovels..."
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Comments
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I got 9% knocked off the price of a Barrett home once, I was trying for 15% but they wouldn't bite at that so I walked away. This was before the crash so I would go in looking for 20% or more in the present day.0
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Thanks, what year was this?"The only man who makes money from a gold rush is the one selling the shovels..."0
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1996 if I remember rightly, and I am so glad I walked away now because the places are probably only 60% of the value they were then.0
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Hi, I remember the house you have mentioned for sale when I was looking. I went around the show home they have and LOVE this style of house. Alarm bells would be ringing for me if an identical house has not sold even with such a reduction. Good luck x0
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Baratts are offering investors 25% off list price in a local development. hush hush
Of course you would forgo any of these silly "incentives" they often give.0 -
Why not buy the one year old house?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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There will be in the region of 80-100% profit on that house, I kid you not. Will they give you even 15% off? Probably not unless they're struggling to shift them or it's the last one. Why not buy the cheaper house?0
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Why not buy the one year old house?
I considered it... Ongoing construction overlooking the house currently which puts me off at this point. Also lack of parking a serious issue. If it's at £340 OIEO now, unsold for 6 months, it's got to go down further yet."The only man who makes money from a gold rush is the one selling the shovels..."0 -
Hi, I remember the house you have mentioned for sale when I was looking. I went around the show home they have and LOVE this style of house. Alarm bells would be ringing for me if an identical house has not sold even with such a reduction. Good luck x
The show home is, naturally, in the best position and they aren't willing to sell it yet.Baratts are offering investors 25% off list price in a local development. hush hush
Of course you would forgo any of these silly "incentives" they often give.
Is that in the South East?"The only man who makes money from a gold rush is the one selling the shovels..."0 -
spunko2010 wrote: »I considered it... Ongoing construction overlooking the house currently which puts me off at this point. Also lack of parking a serious issue. If it's at £340 OIEO now, unsold for 6 months, it's got to go down further yet.
The ongoing construction will finish at some time. £340k with a parking issue vs £380k without. That is valuing the parking issue at 40k!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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