Advice on New Build Purchase please

choccie3

Hi
After all the helpful comments to my "panic about no offer" thread I now feel more confident about getting an offer and therefore thought I would ask for some advice on our potential purchase. We can't reserve a plot until we have an offer though.
We are looking at a new build - the development has 118 houses in total and 6 of the ones we want. To be honest only 3 of those 6 are possibles and we have a favourite. 14 houses have been on sale since end of January and only 2 have been reserved. Only 1 of the 3 possibles is on for sale but we have been told if we had an offer we could reserve our favourite. The one that is on for sale was originally on for £279K but is now at £265K (they have dropped most houses by £15K to £25K 2 weeks ago). We are assuming the one we really want will go on at £265K or possibly £270K. They are not advertising the fact they dropped the prices, just acting as if the new price has always been the price so are we correct in thinking there is room for more negotiation?
Carpets, turf are not included but if we reserve soon we could select our own kitchen, tiles etc. Sales agent told us "carpets and turf are a negotiable point and don't let 3% stamp duty put you off". Previously she has said "we try to get you your carpets and make me an offer - its as much in my interest as yours to reserve"
I have looked on right move for similar size house prices but there is very little for sale in the village (hence our decision to buy in the development).
Any advice on what to start negotiating for or any other tips from people who bought new builds?
Thanks

djm1972

Don't forget the stamp duty threshold at £250K! I would definitely use this as a negotiating tool seeing that they've come down to £265...

I would offer £249,995.

choccie3

Hi
Thanks we had thought about trying to get it under the stamp duty threshold but wondered if £15K off the asking price was too much on top of the already reduced price. We might try and see if they will pay our stamp duty either?
They don't seem to be selling them though so its worth a go

Rachel85

We have just bought a new house (well nearly...move in next Friday). I would say that there is definitely room for negogiation - especially considering what has already been said.

Your best plan is probably to wait until you have a buyer for your property and then lay your cards on the table. Decide what you think the property is worth. Say you have a buyer for your house and are prepared to move quickly, however because of stamp duty the absolute most you can pay for the house is £249,999 and, as this is already stretching your budget, for that price you will also want the garden turfed & fenced, flooring of your choice plus any other bits and pieces that you might want. We spent a lot of money on things like downlighters, fireplace, outside tap etcetc. Alternatively you could ask for X amount of optional extras, for example. Basically put yourself in a strong position to procede (if you can get a mortgate in principle and a solicitor lined up that is even better) and then ask for as much as possible, starting with the biggest. Chances are they will say yes to somethings and no to others but if you don't ask you won't get!

Another alternative is to speak to them now and find out of they do part exchange. Its often not a great deal but if you love the house it might just work.

Another point to consider however is the length of time it will be before the new house is ready. Our house took 16 weeks from reservation to completion which was fine for us but our buyers were getting a little tetchy and I know there's no way we could have strung it out any longer. Its worth finding this out now rather than be disappointed later on.

Hope this helps!