Feeling cheated buying a new house

Neverasparename

Hi All,

So this is my first post but I'm quite desperate for help after recent events.

So I've been renting in the area of South Wales for a while knowing I should be looking to buy if longer term and did start looking around.

With the Government help to buy scheme I started looking at new builds with my ex and there was a house that at the time seemed nice that was actually already complete.

I reserved the house but was then put under a lot of pressure to complete under a month as this would fall before the end of the year for the builders financial situation, but gave me no benefit as I still had my rented accommodation until Feb.

The issue I have is that I feel because of the aggressive selling I ended up paying the list price (£174,995) and not even being allowed to change anything about the house as was already there. This is obviously well above what I should've been paying considering a new build..

In addition to this there were a number of points about the decoration I asked to have fixed before I moved in, was assured they would be and evidently I'm still waiting for it now!

I tried to talk to them 2 weeks after the key transfer (but I didn't move in as I still had the other place as mentioned) but got nowhere with any resolution.

All in all I feel completely cheated about all of this, I absolutely hate the house but appreciate I did buy it but also feel the deal I was given was pushed on me via the selling.

Currently I can't go one night without waking up and thinking that this is the worst decision I've ever made and it's really ruining everything I'm doing currently. I would estimate this has lost me in the region of £15k but also has now tied me into a house that actually is completely unsuitable for me and still requires masses of work to get anywhere near nice.

I was wondering if anyone had any advice to go with my situation or what I can try and do?

Thanks in advance.

boliston

Apart from the decoration, you have not mentioned anything else actually wrong with the house - surely decoration can be fixed?

elverson

If you weren't happy with the house or the price you should have walked away.

princeofpounds

I'm unsure about whether I'm feeding a troll here, but

All in all I feel completely cheated about all of this, I absolutely hate the house but appreciate I did buy it but also feel the deal I was given was pushed on me via the selling.

That's the whole point of selling. To make you pay a high price for something. You didn't have to buy it, and the developers have no special responsibility for you beyond their normal legal obligations. You have to deal with the consequences of your own decision.


That's the 'tough' part. The 'tough love' part is that this is the ideal time to learn a lesson. It might feel like a big deal now, but this is your first house and compared to anything that comes later the actual amount you feel you have overpaid is relatively modest in the grand scheme of things.


The other thing that you might be able to deal with is the unfinished decoration. Can you be more specific as to what is wrong? Did the property come with an NHBC warranty?

HappyMJ

New houses are basically a blank canvas...an empty shell. This will allow you to pick the floor coverings you want and paint the property the colour you choose.

A lot of people do regret their purchase don't worry about that you're not the only one.

Developers don't tend to negotiate much on the price. As long as all the properties sell before they are complete they will sell at the asking price. You might have got some more inclusive's in the price such as a few extra trees in the garden, some paving, better kitchen appliances and not much else.

Buying a brand new house as buying a brand new car will always lose you some money as soon as you use it. It's no longer new it's now used and some purchasers don't want used. Less demand means lower price. Don't worry about that either. After 10 years the price will be the same as all the other used properties in the area. During those 10 years you have a warranty so if anything goes wrong with the building you can get it repaired by the builder.

Keep on at them they will eventually fix all the issues you've raised on your snagging list.

The issue for you is the government's help to buy scheme is only available as you are buying a new property. Would you have been able to afford to buy a lower priced used property without any government assistance? Maybe not. The mortgage company is protected from losses, the builder is incentivised to build more needed property and you get a lower rate on your mortgage than you otherwise would have had saving you money so whilst it might cost you £15k now it may save you £1,500 a year over the next 10 years.

AdrianC

Neverasparename wrote: »

The issue I have is that I feel because of the aggressive selling I ended up paying the list price (£174,995) and not even being allowed to change anything about the house as was already there. This is obviously well above what I should've been paying considering a new build.

So, umm, why did you agree to pay it?

If the house was already completed, then you were buying it in that completed state. It's not like you're buying off-plan where colours of tiles/cupboard doors/carpet etc can easily be changed, because they haven't been fitted yet.

Sorry, but sounds like a very bad case of buyer's remorse.

csgohan4

You were not forced to part with your money


As you say you were in rented accommodation and could have waited.


Always make them need you more than you need them as part of haggling. In this case it will be a learning point for you

dc197

A first house is very daunting, don't feel too badly.

As others have asked - what is wrong besides the decor? And why did you buy a house that, besides the decor, is wrong for you?

You can easily redecorate.

Neverasparename

Hi All,

Thanks for the replies and sorry I appear to have offended some people by asking.

In terms of decorations with the house my examples would be I have now extractor hood in the kitchen still, the sink has leaked ruining the wood of the cupboard underneath, walls for patio doors are not straight and I still have a few areas where the paint is completely wrong (aside from the paint job actually having a lot of problems itself).

The actual reason I hate it (but said I completely accept I ended up buying it so would have to live with it) is the actual house is completely unsuitable to me.

In terms of asking why I paid it, as mentioned in my first post I feel that the sales person was effectively able to aggressively push me to complete in about 25 days from seeing the house which has resulted me in making the decision. I make no qualms about a buyers remorse existing - unfortunately this appears to be the only purchase I am unable to go back on changing mind within 14 days of buying.

Thanks HappyMJ for the well constructed feedback - I think the only thing I haven't addressed is the HTB. In terms of deposit unfortunately no, I would've been able to buy the house without using the HTB and ended up using it more because it was universally said as a good option.

jimbog

You may want to get a professional 'snagger' in to list all the faults and present them to the builder

princeofpounds

don't feel too badly.

don't feel too bad. 'badly' is an adverb.


Sorry, I'm sure I will get flamed for that comment. It's just one of those Americanisms I would hate to enter the English language, because it actually means 'don't be bad at feeling', not 'don't be feeling bad'.


http://www.getitwriteonline.com/archive/010101BadBadly.htm

Thanks for the replies and sorry I appear to have offended some people by asking.

People aren't offended. They are just being direct with you. If you were under the illusion that you had some sort of special protection against buyers' regret then you could probably have done with more directness earlier in the process.


I'll ask again - do you have an NHBC warranty?

You may want to get a professional 'snagger' in to list all the faults and present them to the builder

This is the sort of route you'll probably end up going down. Depending on what is wrong you might not need a professional though. But google 'snagging' to understand the process.