Buying a NEW BUILD

bruich76

So we have just put a deposit down on a new build house. It's our forever home so we are planning to stay for a lot of years. The developer bellway would not budge on price at all... In actual fact they said that the next lot of the house we bought would be for sale for more money. They started them at 310,000 and they have gone up in 5,000 increments. It's only a small site of around 100 houses.

There are around 5 or 6 of them for sale still and building 3 or 4 more but the site has only been there for a year and are selling very fast

We have negotiated tiles in kitchen / dining room, ultility and hallway (these are high gloss and look very expensive) apparently 3,500s worth at bellway costs, luxury carpet throughout, turf, appliances and half of the stamp duty to be paid by the developer.

But bit worried that we could have negotiated more. What do you think?


I just worry that they will start selling them for less and that we will have overpaid. That said; the first house on the site of our style sold around 12 months ago has just sold on the open market for 320,000

So that is reassuring at the least

cloo

If you want the house and it's really your forever home, then go ahead and pay what you have agreed, and please don't drive yourself mad by checking house prices. If you're going to be there for the long term, there's just no point worrying about what will happen between now and moving in.

spadoosh

If its your forever home it really doesnt matter that much if youve overpaid.

Youll never realise the sale money and seeing as a mortgage costs more than you think youre paying more than you think anyway.

Some fag packet maths suggest if you have a mortgage of 90% you will repay a total of nearly £400,000 over 25 years. Thats substantially more than you think youre paying for it.

Id focus my happiness on finding a forever home and not if you couldve negotiated some nicer tiles or a few £k discount.

marksoton

bruich76 wrote: »

There are around 5 or 6 of them for sale still and building 3 or 4 more but the site has only been there for a year and are selling very fast

We have negotiated tiles in kitchen / dining room, ultility and hallway (these are high gloss and look very expensive) apparently 3,500s worth at bellway costs, luxury carpet throughout, turf, appliances and half of the stamp duty to be paid by the developer.

But bit worried that we could have negotiated more. What do you think?

They can't be selling that fast if you got all that lot!

bruich76

I have just had a look and they have sold 12 out of 23 plots. They have been for sale for just over a year I think but, they've stated absolutely that they will not reduce prices and that they have been selling at double the speed they had originally planned they would. I did wonder if this was just talk.


However, on the original plans it did say that the second phase wasn't due to start until 2018 and, half the houses on the second phase are already built already - it being started half way through this year. So they must be ahead of where they thought.


Maybe we just got lucky with it being the end of the year and hard bargaining. The lady did say that they usually just say carpets and tiles or stamp duty and that's all they will offer.


But you just never know...

BJV

You may have got a few thousand off. But you may have lost the house and someone may have bought it.

It will be your forever home so as long as you love it and are happy??? After all I am sure in 10 years time you will change the bathroom maybe even the tiles so??? Enjoy.

bruich76

Yeah I guess I was just worried that someone will come along and say that they want £20,000.00 off the asking price and then we look stupid for paying all that much more money for it.

marksoton

bruich76 wrote: »

I have just had a look and they have sold 12 out of 23 plots. They have been for sale for just over a year I think but, they've stated absolutely that they will not reduce prices and that they have been selling at double the speed they had originally planned they would. I did wonder if this was just talk.


However, on the original plans it did say that the second phase wasn't due to start until 2018 and, half the houses on the second phase are already built already - it being started half way through this year. So they must be ahead of where they thought.


Maybe we just got lucky with it being the end of the year and hard bargaining. The lady did say that they usually just say carpets and tiles or stamp duty and that's all they will offer.


But you just never know...

Well none of that adds up....

bruich76

The house we have bought hasn't been for sale for a year. The developer has been putting the site up and the houses have been sold off as its been put up. The first one was sold a year ago and then as they have been built they have been sold off one by one.

NeilCr

I bought my little house about 8-9 years ago.

For quite a time the value was much less than I paid for it. Even now I wouldn't get my money back. I am not really a home person but I love it to bits. It suits me down to the ground and knowing this area I couldn't have got -or would get- anything better for me

So I don't worry at all about what I paid for it. I just enjoy living here. If it is your forever home I'd rather look stupid for paying too much than not have the house!

bruich76

Good point Neil.


Although, I am a little less worried about the price we are paying for ours as comparible prices for similar 4 bedroomed houses in the same area are around £300,000 plus.


And, likewise, one the houses on the development has already sold for £10,000.00 more than they paid for it which was £320,000.00


So the price seems to be realistic.