Buying from new

i2013

I am interested in buying a house on a new Taylor Wimpey site. Work started on site a few months ago and prices haven't yet been released (due out in August). I was wondering how long it is typically before the first houses become occupied. How long do new builds take to be constructed these days? I have just sold my property and will probably have to rent for a while, but am reluctant to do this for too long due to cost. Thanks for your help.

GwylimT

It depends entirely on the site, on ours from the start of build to the first person moving in was 8 months as this site is built in stages that are separated from each other, the final stage is now pretty much complete apart from a few bits in the communal area.

gazzabboi

8 months from reservation generallyif off plan

i2013

Many thanks.

G_M

But doyou really want to be the first buyer? Living on a mud-streaked building site, with erratic utilities, noise and dust......

Plus of course, as with cars, a New Build house loses value the moment you drive it off the forecourt.

Tancred

G_M wrote: »

But doyou really want to be the first buyer? Living on a mud-streaked building site, with erratic utilities, noise and dust......

Plus of course, as with cars, a New Build house loses value the moment you drive it off the forecourt.

Hmmm. Not necessarily - it depends on the area and the local housing market. What I would say is that if you are buying new, you should look to stay long term.

gazzabboi

G_M wrote: »

But doyou really want to be the first buyer? Living on a mud-streaked building site, with erratic utilities, noise and dust......

Plus of course, as with cars, a New Build house loses value the moment you drive it off the forecourt.

I disagree, new builds from 2 years ago in my area are now up at 20k more

dumpallhere

G_M wrote: »

Plus of course, as with cars, a New Build house loses value the moment you drive it off the forecourt.

A TW site:

A 4 bedroom house sold (as new) in December 2011 was re-sold in April 2013 @13% more.

Three-bed town houses (same site, last phase) are being marketed today at 30K more than the registered sold price(s) from the previous phase 10 months ago. "No negotiations, nothing free" - two of the last five have already been reserved. Being opposite HA housing (entire row of 20 houses) notwithstanding (for some, it matters).

ShALLaX

G_M is generally correct - even my valuation report on my new build specifically highlights this phenomenon.

comeandgo

I disagree on new houses loosing value, especially if you are in first - our development was built in three stages, the last stage houses were sold at 15% higher than the first stage at a year later and they have not lost any value today. It depends on where you are and what you are buying.

pinkteapot

gazzabboi wrote: »

I disagree, new builds from 2 years ago in my area are now up at 20k more

But are any of them actually selling, and at what price compared to what they were bought for?