Just purchased a new build and builder has reduced same property next door by £25000?

marathonic

McKneff wrote: »

Please note that i am neither old enough or mature enough to know what apocryphal means

Me neither pet, and I'm 63:rotfl::rotfl::rotfl:

(away for a minute while i go look it up)

I looked it up and still don't understand it :rotfl:

Richard_Webster

Before buying did you compare the price of this house with similar 5-20 year old houses in the area? That's the builder's competition. If you can buy a slightly older house nearby for £155K why pay £185K?

spenceeyftb

I think at the moment you should look at it as a house to live in rather than an investment.

We're going through the stages of purchasing our first house at the moment and first and foremost it's a house for us and a family one day. Unless I desperately need to sell I could happily see us spending the rest of our days there. This is hard to imagine in your early 20's (age I am).

Our (hopefully) soon to be house needs a lot of work, I won't lie it's a big task for our first house but the end product will be beyond anything we can afford at the moment.

hazyjo

Even with older properties, they're not all guaranteed to sell at the same price. It's a different time of year now, things don't generally sell as easily, the developer obviously wants shot of them...

Did you negotiate on price at all? Did your mortgage valuer say the price was reasonable or did he undervalue?

Jx