Redrow Incentives

Sparx · 3 February 2013 at 9:24PM

Has anyone bought from Redrow recently and able to help me out with what incentives they have available or typically can offer? Other than the generic incentives they have on the website, that pretty much all builders offer anyway as standard it seems.

I'm talking things like; 5% deposit gifted, stamp duty paid, legal fees paid, carpets/flooring/turf fitted, kitchen appliances, £xxxx allowance in extras, etc.

I'm arranging an appointment within the next few weeks to visit a local Redrow plot. We could potentially be buying off-plan and reserving a new home for approx Q1 or Q2 of 2014.

I'd like to be prepared and get the most for my money. I have done some research on Google and on the MSE forums and can not find many related threads, not specifically for people buying with Redrow anyway. I see plenty of threads on Taylor Wimpey, Barratts, etc with some fantastic incentives! But they are a bit bigger than Redrow I believe(?)..

The new build we are looking at is a 3 bed semi-detached for just under £140k, aiming for a 10% deposit. We are also hoping Redrow gift us 5% at least so we can get an 85% LTV mortgage.

Experience, thoughts and feedback would be much appreciated.

Sparx · 4 February 2013 at 10:22PM

Bump.. Anyone?

Sparx · 5 February 2013 at 9:12PM

Surprised no one has commented yet?! Would really appreciate any experiences you guys have had..

Sparx · 7 February 2013 at 9:47PM

Guess no one here as ever bought a Redrow home?! I find that hard to believe..

HARSA · 7 February 2013 at 11:30PM

Sparx wrote: »

Guess no one here as ever bought a Redrow home?! I find that hard to believe..

https://forums.moneysavingexpert.com/discussion/3884453
https://forums.moneysavingexpert.com/discussion/4427765
https://forums.moneysavingexpert.com/discussion/4281883
https://forums.moneysavingexpert.com/discussion/4210767
https://forums.moneysavingexpert.com/discussion/4127693

Sparx · 8 February 2013 at 12:43AM

I've already seen those. Sorry I don't see how any of those threads help me really?

The only thing 1 told me was to try offer 10% less which I already intended too anyway. None of them say what incentives they offer really or extras they include, what prices the options are, etc.. Or anyone with past experience what they get thrown in with their new home when purchasing..

jamesml · 8 February 2013 at 1:25PM

Seems to massively vary from site to site let alone developer to developer. Ask for everything - the worst they can do is say no. Don't get sucked into a nice relationship with sales staff - use it as far as it will help you out, but at the end of the day, they are there to do a job. A good relationship might help you in the negotiations, but only if you don't get too embarrassed to haggle properly. Remember to look out for yourself!

My new build came with white goods, turf, etc anyway. I negotiated a small discount plus carpets throughout. I didn't ask for gifted deposit or SD etc because it would have impacted my personal mortgage too much (although it might work for you - depends on your circumstances and your lender).

When it comes to extra's, don't get sucked in and go for everything. We had to go to a special studio twice to select all our fittings etc, but take charge of the situation and don't let the adviser guide everything. They will lead you to select things they want, and might not show you things they don't want you to select. Sounds cynical but happened to us!

Challenge the prices on the upgrades as well. Some things are definitely golden eggs for them, but some things are only marginally more expensive than if you arranged it yourself. There were some things we found to be the same price if not cheaper. You can also haggle on the lot - we did, with varying degrees of success depending on what it was we were trying to haggle on.

shays_mum · 8 February 2013 at 1:52PM

But as a shareholder i get a discount on the purchasing price. There were none near me, so bought somewhere else for what it matters!

welshwizard1927 · 24 February 2013 at 6:45PM

Redrow homes tend to come with the white goods, carpets and lawn as standard. Doesn't mean that they're any good, but may help get you going if you're a FTB.

5% gifted deposit is a given in my nearest development, I'd be interested to know how much people were able to knock off asking price but unfortunately land registry haven't published figures yet.

Your difficulty is that you'll be buying off plan = walking right into their hands and you have very little bargaining power in my opinion. Would have better negotiating power on a property that is sitting empty.

brit1234 · 24 February 2013 at 7:32PM

Can't they put all the gift deposit, fees and goods all off the asking price instead so you can get a better mortgage rate.

After all you are not being given these items but paying for them in an overvalued property.