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New build buy under Help to buy scheme
firstbuy
Posts: 4 Newbie
Hi all,
I have been reading several of the existing threads and wanted some advice.
There is a new development in Farnborough and we (me and my gf) have decided to purchase a 1 bedroom flat as our first house. The asking price is 162.5k and we negotiated it to 158k + (flooring and carpets). Initially we didn't even know that it was even negotiable. Only when we went to reserve the flat we found out about it. (Yes it shows how new to this we are)
Currently we are renting a 5 year old 2bed nearby which sells for 200k and the old 1 beds are priced around 134-145k in this area.
So now we need your advice if this can be further negotiated and by how much now considering we have already paid the reservation?
Thank you all in advance.
I have been reading several of the existing threads and wanted some advice.
There is a new development in Farnborough and we (me and my gf) have decided to purchase a 1 bedroom flat as our first house. The asking price is 162.5k and we negotiated it to 158k + (flooring and carpets). Initially we didn't even know that it was even negotiable. Only when we went to reserve the flat we found out about it. (Yes it shows how new to this we are)
Currently we are renting a 5 year old 2bed nearby which sells for 200k and the old 1 beds are priced around 134-145k in this area.
So now we need your advice if this can be further negotiated and by how much now considering we have already paid the reservation?
Thank you all in advance.
0
Comments
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If the PIF/Res have already gone into the HCA HomeBuy agent, you are going to find it difficult to get it done over.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Thank you kingstreet for the reply.
Yes we have already submitted the paperwork.
So just for future reference should we assume that the new build flats can be negotiated to 10k ?0 -
There's no hard and fast rule. You can try to negotiate anything, anytime, but close to a month/quarter/year end you are more likely to be successful, particularly if the plot is at, or near completion and they want to get the quick completion in that period's figures.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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The best advice you will ever receive is this....Buy a two bedroom house...Remember these words...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Thanks for the advice geoffky.
Went for the 2 bed in the end
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Hi all,
Currently we are renting a 5 year old 2bed nearby which sells for 200k and the old 1 beds are priced around 134-145k in this area.
OOI, are you saying that 200K buys you a 2 bed and 135 buys you a 1 bed on the same estate?
at 33% less that's a much bigger difference than normal
On a couple of estates where I have been looking 2 beds go for 125-140 and 1 beds 110-120, so 15% cheaper at most
tim0 -
Hi tim123456789,
I meant in the same area but not same estate.
For the new building 1 bedroom is 165k and 2 bedroom is 200k0
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