Negotiating on a New Build House

Mukk2k3

Yes the houses are up for 130k - 140k so I surpose the you could offer 120k with option of 125k. But will only have a 10% deposit then, which pushed interest rates up to around 4.5% to 4.99%. Whereas, we can get a first time buyer mortgage with the 15% on the new property for 3.74%, which in montly repayment terms makes a significant difference.

Also there is the attraction of picking your own ktichen, bathroom extra with the new build and can try and get the white goods inlcuded as extras etc.

Property bee does sound very usful mind, will have a look at downloading that.

AMO

Seems like with the decorations included and the £5K price drop, you've got a benefit of around £10K. For a house of that price, that's pretty ok.

I would:
1) Find out the builder's half yearly / yearly results and see if you're close.
2) Think about what else they can throw in (for example if you need the drive way paved, or external electric points or outside tap (it has to be something they can easily put in - some things like garden taps they might not be able to do so after a full build so easily) as you're unlikely to get them to budge on the price.

Then offer to put down a deposit on the day / next day and complete a.s.a.p. (intended 3-4 weeks).

They'll budge a bit more with small additional stuff thrown in, but most likely won't reduce the price anymore as that will distort their figures.

Getting fitted wardrobes is a good thing - easier to do now than later.

You might also want the master bedroom laminated rather than carpeted - the primary upstairs and downstairs room you're in the most is best off laminated as its much easier to clean.

Mukk2k3

Yeh I think we have got a pretty good deal. The house was originally going for 134,950 and then it game down to £129,950. So if we can get it for 129,000 - 129,500 ish plus the 5% (just over £6k) and all the extras we want I would be fairly happy.

Mukk2k3

Just put an offer in for the full asking price of £129,950 with the following incentives:

- 5% builders gift
- Built in wardbrokes
- 1,000 allowances for carpets and flooring
- Washing Machine

Just rang the estate agents are they said the offer has been submitted and they are having a serious think about it.

So fingers crossed the offer is accepted.

Didn't realise area is also exempt from stamp duty!!!!

geoffky

New builds near me have gone from 340k in2007/8 down to 210k now and looking at sold prices on-line some have gone for 195k....Some very serious money losses for all those buyers..A pattern that i have seen very often with new builds these last few years..Buyer beware

Mukk2k3

Yes understand that there have been massive fall in house prices over the past 3/4 years. Surely house prices can't go down anymore than they are currently are. Surely nows the best time to buy if can get a good price.

DRP

Mukk2k3 wrote: »

Yes understand that there have been massive fall in house prices over the past 3/4 years. Surely house prices can't go down anymore than they are currently are. Surely nows the best time to buy if can get a good price.

i wish!

maybe new build are different, but houses in my area are up on 2008 prices....!