Trying to buy with Redrow

AdrianC

Atirez wrote: »

I came on the site and I was looking to get help of people. You have done exactly what you set out to do.

Give you an accurate answer? Yes, I and others have - the problem seems to be that it's not the one you want. Sorry.

ManuelG

Atirez wrote: »

Now, we happily go in with our reservation money and get told the guide price on the house is an astonishing 295k! 15% more than the other house in less than a year and while they are selling houses which are much larger for a similar price as of today. I am shell shocked - how?

I can't begin to tell you how, but I can say it's not unique. Around me the new builds sold for about £45k more than my house... and given we're talking 2 bed tarraces, that says a lot!

Now, I have absolutely no clue why. When I saw the prices I choked, and decided I wouldn't buy there but... they all sold before the estate was built!

So ultimately,the developers were right with their prices.

I, however, was right not to buy too.

If you think it's a ludicrous price, then walk away. Either nobody will buy and the price will come down, at which point you can walk in smugly... or they'll get snapped up by those who think it is worth that price and, well... fair play to whoever buys them, eh.

alchemist.1

ManuelG wrote: »

I can't begin to tell you how, but I can say it's not unique. Around me the new builds sold for about £45k more than my house... and given we're talking 2 bed tarraces, that says a lot!

Now, I have absolutely no clue why. When I saw the prices I choked, and decided I wouldn't buy there but... they all sold before the estate was built!

So ultimately,the developers were right with their prices.

I, however, was right not to buy too.

If you think it's a ludicrous price, then walk away. Either nobody will buy and the price will come down, at which point you can walk in smugly... or they'll get snapped up by those who think it is worth that price and, well... fair play to whoever buys them, eh.

Are these developers allowing Help To Buy by any chance?

makeitstop

Atirez,

The problem here is really a case that the sales staff have been a bit !!!!! at their job. There appears to be a breakdown of comms rather than them trying to deliberately mislead you or con you out of more wonga. This is par for the course with new build sales people. What one thinks is correct, another sales person a few days later will disagree with and they offer their own interpretation of the guidelines set by the company. This is not helpful to the customer, but, they know they have interest in their product, and at the end of the day, they hold all (well, most of) the cards.

For you, this translates into Redrow being a bunch of robbing tw4ts, when in reality, they are no different to all the other developers, apart from the fact that their product is one of the better ones, with generally decent standards of fit and finish.

Off plan buying can be done, but you probably need to be a cash buyer, ready and willing to sign contracts and pay a hefty deposit for that up front in order to secure it. Most folks are not in that position, and so can't hold Redrow to a price. This then means that as a build process moves on, prices move, and so, what any given customer has to deal with, is tolerating a cost that they had not made an allowance for in their initial enquiries. It is frustrating, but it happens and happened to me, although the difference in Redrows asking price was only (haha, only...) £5K in my case.

The Earlybird scheme does give you first refusal of a plot, and should give you an indication of what that is "likely" to cost. Of course, that can change, and often does, always in the wrong direction. The issue you appear to have is that this price is way above what you were expecting to have to pay for this house, and that's understandably disappointing. Sadly, that's just how it works. Perhaps the sales staff were wrong to suggest £260 when they were unsure of the new prices, and if that suggestin was made one day and then you received the "actual" price the next day, I'm not surprised you are a bit miffed.

It would feel like you were getting stiffed by them, and that's going to hurt.

I'd seriously consider that larger house that's available now.

makeitstop

What is the house type you are looking to buy, and what's the one which is larger and almost ready to go.?

ManuelG

alchemist.1 wrote: »

Are these developers allowing Help To Buy by any chance?

A fair point, think they were.

Not much of a 'help' then, is it!

Poppy9

You have a choice - you can pay new price, have a new house and risk if you need to sell within next year or so losing money if they are still building or:

you could buy a recently built house that is up for sale on the same estate for less. It's less because people want to be the first in, choose decor etc. but for the money you save on buying a house someone else has carpeted etc. you can afford to replace and get a decorator in! or:

you can buy an older property, solidly built, with bigger rooms on a larger plot where you don't have to co-habit with your neighbours:D

alchemist.1

ManuelG wrote: »

A fair point, think they were.

Not much of a 'help' then, is it!

The real effect wont be realised until 5-10 years down the line when they look to sell and step up the ladder.

makeitstop

Poppy9 wrote: »

You have a choice - you can pay new price, have a new house and risk if you need to sell within next year or so losing money if they are still building or:

you could buy a recently built house that is up for sale on the same estate for less. It's less because people want to be the first in, choose decor etc. but for the money you save on buying a house someone else has carpeted etc. you can afford to replace and get a decorator in! or:

you can buy an older property, solidly built, with bigger rooms on a larger plot where you don't have to co-habit with your neighbours:D

Yeh I guess you could if the older houses actually were solidly built, had bigger rooms and larger plots.

However, with some older houses, you could also be resolving damp issues, spending extra on heating it, repairing it, altering it to how people like to live in their spaces today, and so on and so on.

Also, with some new (very new) developments, it can often be the case that there aren't any for sale, as everyone who has bought is staying put. So, if you want a property on a particular estate / location, you simply have to pay for it.

Poppy9

makeitstop wrote: »

Yeh I guess you could if the older houses actually were solidly built, had bigger rooms and larger plots.

However, with some older houses, you could also be resolving damp issues, spending extra on heating it, repairing it, altering it to how people like to live in their spaces today, and so on and so on.

Also, with some new (very new) developments, it can often be the case that there aren't any for sale, as everyone who has bought is staying put. So, if you want a property on a particular estate / location, you simply have to pay for it.

From experience - we were looking to downsize so went to look at some new builds (not much land here in decent areas, plenty with great motorway access:p) - they were on a plot so small from every window I saw a wall or a window. Garden to small for anything more than a table and chair but not sure why you would want to sit out if you are living on top of a motorway. Plus a garage I don't think my car would have got in.

Then quality of build. I have a couple of relatives and work with quite a few who have gone new build route. One was flooded out of her home for 6 months due to faulty plumbing, yes covered by builder but they had to move out for 6 months. Then 2 years later after a storm it was found that the roofs were not safe even though they had been complaining (they as in them an neighbours) that roof tiles kept falling off. So they had to have their roofs made safe. When I visit a few family/friends in new builds they apologise their loo doesn't work and direct you one that is working! Plumbing seems to be a big issue with builders here! Price is not relative to quality with new builds it seems -C4. A redrow house we were considering 20 years ago as a new build we decided against due to size and space - there was an issue when complete with the pointing of the bricks needing replacement due to faulty mix!

SIL had new build in Northamptonshire. She was in quite a nice part of estate, room to park car etc. but aside from master bedroom the other 3 barely took a double bed. Downstairs loo constantly blocking and some issue with windows. They sold up and bought new again but from a small independent builder on a plot with just 6 houses. Build quality much better.

I've owned two houses - one built 1900. We completely renovated (CH, ceilings, kitchen, bathroom etc) but had an issue with damp in one wall at rear of property. Had a 20 year guarantee on the damp proofing course so they sorted it eventually. Nothing else ever went wrong with it. Solid walls, large rooms, fair size plot but poor parking.

Current house 1950s. On a huge plot backing on to woods with sea view. Council sold us plot of land to rear of our garden so no one can build behind us. Not overlooked in my garden, don't overlook neighbours garden. You do need a sledge hammer to knock down walls and over 20 years we've replaced kitchen & bathroom twice - but we would have done this if we had bought new no doubt.

I do think I live in a poor area for new builds. As a seaside place and quite hilly all the best plots long since built on and what's left is so expensive they pack them in tight or on awkward plots so your garage isn't next to your house. Else you can buy one near a motorway. Fine if you want to commute.

We looked at some new builds to add to BTL. We were looking at 2 bed mid link (or terrace to people born before 1970)! We decided against in the end but I can't get the sales people off my back as I guess the small houses are hard to sell.