New Build - Redrow - Off Plan

Sideburno

Hi guys,

My wife and I have just early birded a house with Redrow which they said wouldn't be ready until December, maybe earlier depending on weather. The early bird gives us first refusal till the plot is released for sale.

They called us yesterday to say the plot has been released for sale and we need to come in Friday to organise a reservation.

We've spoken with a broker and a couple of banks and we can loan what we need to purchase the house so we know we can get a mortgage for that value we need.

I was just wondering if anyone had any experience with buying a new build and why they want to us to begin the process 10 months before completion?

Also if you know, what costs are we going to have to pay now?

We'll obviously ask them these questions but I just wanted to hear off you guys before we meet them just in case.

The other point is that the house is £199,995. We're going with HTB Equity Loan and getting a mortgage for £150,000. Deposit £10k, Government £40k.

I've heard you can negotiate with developers and possibly get incentives up to the value of 5% of the property, is this a reality? If so what we want fits into £10k easily with regards to extras. We'd be happy with them paying our stamp duty or dropping the value though to be honest.

chanz4

stamp duty or price is a no no with HTB

Sideburno

I've heard a price reduction is not classed as an incentive so you can agree a lower price before going ahead with the approach to the HTB agent and Mortgage lender?

GeekTrek

Sideburno wrote: »

I've heard a price reduction is not classed as an incentive so you can agree a lower price before going ahead with the approach to the HTB agent and Mortgage lender?

Hi Sideburno,

Which site have you reserved/early bird?

We reserved one with Redrow around 8 months ago in Leicester, should be complete March / April. Completion has been delayed a few times though.

We just managed to get standard flooring throughout as incentives. Couldn't get anything of the price at all. Some people did manage to get expensive floor titles, worktops and Stamp Duty paid but no one I know has managed to get anything off the price here.

However I think you should try to negotiate. "If you don't ask you don't get"

Let me know how it goes

Good luck

Sideburno

GeekTrek wrote: »

Hi Sideburno,

Which site have you reserved/early bird?

We reserved one with Redrow around 8 months ago in Leicester, should be complete March / April. Completion has been delayed a few times though.

We just managed to get standard flooring throughout as incentives. Couldn't get anything of the price at all. Some people did manage to get expensive floor titles, worktops and Stamp Duty paid but no one I know has managed to get anything off the price here.

However I think you should try to negotiate. "If you don't ask you don't get"

Let me know how it goes

Good luck

Hi GeekTrek,

We've reserved at Atherstone, Tudor Gardens. They've told us we don't need to pay the full reservation fee but have reserved it for us and we're using HTB.

We've been given upgraded flooring in the bathrooms, turfed rear, carpets everywhere else and solar panels installed too! We were shocked as we hadn't asked for any extras they just told us these will be included for us.

They've also told us that we're looking for completion Sept/August, the base is down and the houses before ours are moving along nicely right now from what I can see.

The sales lady was great, she got all the technical drawings out showing street lights, gradients, drainage etc for us.

Let me know how yours goes!

kirkbyinfurnesslad_2

Is it on a flood plain.

Why do people waste money on a new souless house

Sparx

kirkbyinfurnesslad wrote: »

Why do people waste money on a new souless house

I would say that is your personal opinion.

Personally I early birded my Redrow home in November. We are exchanging contracts on Tuesday with a move in date of early July.

We are also using the HTB EL scheme. For incentives we got carpets & vinyl throughout and 5% off the purchase price.

Sideburno

I have checked the environmental agency flood map and it's not on a flood plain no, plus I know the area so I know what flood's and doesn't, we lived about 1000 yards away. It's not souless either, that's just your opinion, it's actually got a lot of character, if you don't like new builds I don't even see why you've entered this thread.

Sideburno

Sparx wrote: »

I would say that is your personal opinion.

Personally I early birded my Redrow home in November. We are exchanging contracts on Tuesday with a move in date of early July.

We are also using the HTB EL scheme. For incentives we got carpets & vinyl throughout and 5% off the purchase price.

That's great, nice to hear you got money off. Of all the builders Redrow is by far the best on build quality and staff too.

Sparx

Sideburno wrote: »

That's great, nice to hear you got money off. Of all the builders Redrow is by far the best on build quality and staff too.

I agree! The Redrow sales exec for our home is lovely, she is very good at her job and keeps us well informed.

We only managed the 5% off because our lender's surveyor down-valued the house we are buying luckily. Redrow semi-reluctantly accepted it as a one-off. They are still selling the rest at the original purchase price.

Sideburno

Ah nice, the one we bought is £200k as we have a detached garage, the ones without were 190k but they're now 195k so we were lucky to get in when we did!