Crest Nicholson - New built Discount

musafir05

Hi,

Just return from a viewing of a 3-bed house with integrated garage. I'm happy with the house and the bonus is its due to complete at the end of August. The price is set at 275,000, but since new builds are overly priced. I want to put in an offer and ask for at least 10% discount. Now the real question is how likely is a 10% discount at this day and age? If a discount is out the question, what are other incentives which I can push for? I'm yet to reserve the plot, but the developer is keen and offered free carpet and dish washer of the bat.

Regards

joshardy07

As someone once said on here - if you don't feel uncomfortable saying the number out loud to the sales team then you've gone too high! If they don't knock down the price you could always ask for them to pay your stamp duty?

Cash-Cows

Discount on price. No chance.

WeAreGhosts

I got ten grand knocked off a new build last month. Started negotiating at twenty grand under, and worked slowly up. I was only cheeky because I knew they had no-one else interested. If there's people queuing up to buy then you don't have a chance.

musafir05

Thank you for replies. After considering the replies, getting a discount will be tough. The house I'm interested in is Located in the middle of a row of terraced houses. Which is very undesirable and sell normally at the end of the development phase. I'm going to push for atleast a 5% discount at first then lean over to free upgrades such as flooring, tiles, dishwasher, etc and Ofcourse stamp duty and legal fee paid. I will keep this thread updated with information.

hazyjo

You're better off using your own solicitor rather than theirs - you need them to take care of your best interests, not the developer's.

Turf too - a lot won't actually include anything in the garden other than soil.

And upgrades on appliances, bathrooms, tiles, showers, etc. Search the forum, there's lots of mention on what you might get included.

Beware though - new builds' sales teams can be bloody tough to break - make sure you know your cooling off period before signing anything.

Pushing for a 5% discount is likely to result in none. It's not gonna give you much wriggle room as they're never gonna say yep lovely, let's shake on that first offer.

Jx

dgtazzman

New build I'm buying was 200k asking, initially negotiated down to 192k and again knocked off 3k after survey, so ended up with 11k off, 5.5%, also got tiling and kitchen upgrades, stamp duty and legal fees paid (though the last 2 are due to the developer missing their long stop date and me threatening to pull out).

Got lucky with the first valuation survey, it was rather pessimistic. A later survey I had to do for a new mortgage offer came back at the original 200k asking price, but as the deal had already been made...

Small local developer though, so they don't have a faceless corporate head office to report too and they are keen to sell fast and keep their buyers happy as they are eager to move on to a next site they have in the works.

marksoton

musafir05 wrote: »

The house I'm interested in is Located in the middle of a row of terraced houses. Which is very undesirable and sell normally at the end of the development phase.

So why are you interested in it ?

musafir05

marksoton wrote: »

So why are you interested in it ?

Based on future plans, there will be a apartment building built near the end terraced. Plus the end terraced is £20k more expensive, which put me off. Even the builders are keen to push me into purchasing a middle terraced house by offering extras. I personally don't mind, but want to push for discounts plus extras. So that I don't have to spend so much in getting the house ready.

musafir05

One question:

I am using HTB scheme to purchase the house and I have heard if the developer pay for the stamp duty and legal fee its seen negatively by the HTB team.

Is there any truth in the statement?

rusty_f

musafir05 wrote: »

One question:

I am using HTB scheme to purchase the house and I have heard if the developer pay for the stamp duty and legal fee its seen negatively by the HTB team.

Is there any truth in the statement?

No, I didn't have that problem. The developer paid stamp duty for us, and I think all I had to do was declare it on the application form.

The mortgage company on the other hand had an issue with the incentives. I went with Halifax and they had a limit on the percentage of incentives vs overall property value which I apparently breached so I ended up having to find an extra couple grand deposit. Was a bit stressful.