New build - incentives to ask for?

wymondham

... how about a reasonable price, without any 'extra's... ;-)

mikey_bach

I am going tomorrow to put my name on a property, cant reserve yet
but they have said will hold for a few weeks,
can I ask for extras tomorrow or price reduction or would I haggle for these at the time of the reservation..

brit1234

The only thing I would want from a new build is a reduction in price. All the rest you are already paying for through the inflated price, they are not freebies.

caeler

I personally went for money off, managed 7% off the asking. Got them to include carpets/lino throughout, power to the garage, outside light front/back, garden laid to lawn, upgraded doors and extra tiling in bathrooms. I've been here 18 months and pleased I went with money off and thankfully according to land registry my is still the lowest sold price so it looks like I managed a good deal after all. Wish I'd asked for an outside tap, ended up getting one fitted myself but to the front of the property where the pipework is rather than the back. The extra's I received clearly did not cost the developer very much and I think these are pretty much standard, it is the build in appliances, landscapped gardens, TV aerials, loft boarding/ladder and upgraded worktops in the kitchen that cost the real money.

Salz

A word of warning to you new home buyers. Please ensure you do not have mortgages longer than 25 years - the majority of new builds these days are timber framed with a brick skin. According to a developer we know, these houses will be lucky to last a maximum of 40-50 years. You could find yourself in a few years time having a house that is unmortgagable (sic) and will only be able to sell on to cash buyers as they are not built to last very long, and will be falling down.
Check with the builders if the joists are solid wood or reconstituted chipboard....

Simon101

I bought in 2006 from Barratts and got:-
5% gifted deposit
5% cash back on completion
Built in fridge freezer
Built in washer dryer
Tiling and shower in family bathroom
Upgraded kitchen

HOWEVER when is sold earlier this year, I sold at further 10% loss. Just be careful, even though you might be getting a discount doesn't mean you are getting a bargain.

pawlala

Ask for the freehold. Our developer agreed to pay it saving me around £6000.

The £250 ground rent I saved every December went on Xmas presents and food!

Gentoo365

Salz wrote: »

A word of warning to you new home buyers. Please ensure you do not have mortgages longer than 25 years - the majority of new builds these days are timber framed with a brick skin. According to a developer we know, these houses will be lucky to last a maximum of 40-50 years. You could find yourself in a few years time having a house that is unmortgagable (sic) and will only be able to sell on to cash buyers as they are not built to last very long, and will be falling down.
Check with the builders if the joists are solid wood or reconstituted chipboard....

If this were true then you would expect that the lenders would be asking that question before releasing the funds.

In addition, it is important when asking for 'incentives' to check the mortgage documentation as some incentives have to be declared, and the solicitor will be required to do this on behalf of the lender.

Remember that the mortgage valuer will not consider some items as increasing the value of the property, so you may end up with a lower mortgage valuation than your purchase price.

dustystar02

We are going to reserve our new built sunday. We've reduced the price from 229 to 220 and that includes turf, fencing, all flooring and upgraded kitchen bits (e.g steel sink instead of plastic) however we are part exing and they have come in very low with a price for ours. But we love the house so are agreeing. We've negotiated as vest we could .
We have friends already on the develoment and so will be taking advantage of the £1000 recommend a friend scheme which I hope to use on White goods.

Evsy_2012

We're currently looking at a Part-Ex. Trying to get them to take close to 10% off their price depending on valuation. Hoping to include carpets/laminate flooring (not on their spec but in most of the photos in their sales leaflets...), a loft ladder and/or stamp duty covered/cash back incentive of some kind.