Bought a new build and may be price drops in neighbouring properties

Generali

Negative equity doesn't matter unless you want to sell or refinance anyway.

stamford

Mug buyers fall for the puerile marketing by the developers. On a plot in my area (formerly 3 mid sized detached houses) they are throwing up 12 3 & 4 bed timber framed houses - prices starting at £359,950 for a [STRIKE]mid terrace[/STRIKE] mid mews.

Forget the fact that you are totally overlooked and can't swing a cat in them the marketing blurb doesn't show any pics of the houses only a built in oven and fancy looking light fitting. They might be gerry built but the ad's headline these key points

Fully integrated kitchens
Ideal Standard sanitary ware
Contemporary chrome taps
Porcelanosa tiling
Gas fires and surrounds
Turfed rear gardens

Aren't they fantastic ? :mad:

http://www.qubehomes.co.uk/the_place.html

pamaris

StuH wrote: »

I just expected a level playing field.

Trouble is, the housing market hasn't been a level playing field in a long, long time.

mystic_trev

stamford wrote: »

Gas fires and surrounds

Come on stamford, get it right!

* on selected properties only :rotfl:

Great post BTW

Gorgeous_George

stamford wrote: »

Aren't they fantastic ? :mad:

http://www.qubehomes.co.uk/the_place.html

Superb. That is so funny especially the turfed rear garden. At about £1.50 per sq metre that'll be worth a tenner. And an ideal standard bog! Is that the cheapest they could find?

How I hope the builder goes bust.



GG

stamford

Gorgeous_George wrote: »

How I hope the builder goes bust.



GG

I hope so too - but I think they are a subsidiary of Barratt Homes - that's been painted over on the sales portacabin. Oviously if the site a tad upmarket they don't like using the Barratt name

Running_Horse

neil324 wrote: »

Go to the sales office and demand some money back.

You would be amazed how many do this when a shop has a sale, and even more amazed how many shops give the refund.

andyyorks

Hi StuH,

You may end up paying more for your house on the development but as you bought one of the first ones then I assume you chose one of the best plots. This should mean that you will be able to sell your house for more in the future. It may not make up for the difference but it may soften the blow a little. House prices can vary quite a lot in new housing developents and it is not uncommon for builders to lower their prices to sell the remaining plots as they are usually the lease desireable.

Enjoy the house.

Andy

Tootie_Fruity

StuH wrote: »

:rolleyes: Always one.

Negative equity is not a massive concern. Its a home I've bought not an investment. I probably have been slightly naive but we saw the house and loved it and saw it as our home The houses were a certain price, I just expected a level playing field. Others may think its a stupid question but I felt it was legitimate. The answer seems to be no we cant do anything.

The reason why I referred to the builder as being greedy was that I was told by the (now-ex) site agent that the prices were suddenly increased before the launch by the builder. If you met him you would know what I meant.

Thanks for the heads up on that dispatches program but I'm happy enough with the quality.

StuH

What kind of mortgage (if any) do you have on the property ? Is it's repayment / IO is the rate fixed or variable ?

PropertyGuru

It will probably be worth half what you paid for it by 2010. That's just tough - although you may have a case against the surveyor if you can prove negligence on his part.