Negotiation with Redrow on new build

whereschris

Hi,

I am interested in a new property that is on a development by Redrow. In general enquiries the agent talks quite a hard sell but I wonder... The house is on for £205,000 which is in all honesty a bit more than I can afford. I want/need them to bring down the price a bit.

There are few negatives to the house -

It's in what is historically not the greatest area
The local primary school is in special measures

Do I have much of a position to negotiate? Are builders likely to offer much discount if pushed? They have siad that they can add carpets and turf etc but that is not really much of a deal considering the volume at which they buy the stuff.

Are new builds also like new cars in that they loose much value quickly?

Thanks for any help.

Chris

steve1980

You pay a premium for buying a new build. If you can't afford it then look elsewhere.

whereschris

Thanks. I could just about stretch to it but don't want to! Is that the general consensus then - you pay a premium for new build?

CharlieBubble

Yes, you do pay a premium for new houses and the developers are less interested in reducing prices. They prefer to offer incentives for you to pay nearer their asking price. The prices may be dropped if the houses remain unsold for a period of time, but you'd have to wait and see, which would also risk you losing the house.

Morgage_Confused

"It's in what is historically not the greatest area" and a new build.


.......walk away

alex1987_2

I'm currently looking at a new build site, after looking at similar priced 'second hand' houses i personally don't feel there is much of a premium if any.
Obviously everyone has their own experiences, but mine show that we'd be paying around a 5-10k premium but wouldn't need to do any 'maintenance' or upgrades within a few years of moving in whereas everywhere we have looked at needed either a new kitchen, bathroom, central heating, carpets, en-suite etc etc....

whereschris

alex1987 wrote: »

I'm currently looking at a new build site, after looking at similar priced 'second hand' houses i personally don't feel there is much of a premium if any.
Obviously everyone has their own experiences, but mine show that we'd be paying around a 5-10k premium but wouldn't need to do any 'maintenance' or upgrades within a few years of moving in whereas everywhere we have looked at needed either a new kitchen, bathroom, central heating, carpets, en-suite etc etc....

That's what I was thinking. There are some lovely older houses around but they need new kitchens, bathrooms etc...

It's a tough one. I think I will sit it out for a while and see how te development progresses.