OFF PLAN new built property TIMESCALES how long in total?

jackjassiek

Hi All, :j

I wonder if anyone has experiences about “buying OFF plan new development property”
I am a first time buyer buying a property from - a seller who is buying a new OFF plan new development property. We are about to exchange the contract in the end of this April. The completion date on notice.

Today (7th April) the seller and estate agent just updated me that the new development property has started to be built and already in a stage of “Foundations laid.” They estimate that the completion should be by the end of August.

This is Spring and Summer is coming. Weather should be ok. Should I be optimistic to believe about this timescales in August or a bit later before December for completion date?

I would love to hear if anyone has experiences about buying OFF plan new development both positive experiences (New built finish on time) and bad negative experiences (New built delay again and again)?
Or, any timescales in total about this kind of new built?

Thank you so much for everyone’s help in advance.

comeandgo

Hi. Our new build took over a year from start to finish. This was due to hold ups with utilities. We had sold our house so moved into furnished holiday home.

theartfullodger

It will always be later than the seller & the builder promise.

Assume 3-6 months later & you won't be disappointed.

tim9966

I reserved my new build in November last year when it was at foundations laid stage, now it's at the roof stage.


I was told it would be ready May / June / July when I reserved, then it was moved forward to April / May / June, now my latest date is 31 May, but I'm still expecting it to be June some time.

Mickygg

I bought off plan, not even a hole in the ground. I was told eta was 4 months, it ended up being 9 months! Excuse after excuse as to why the delay.
I will never ever buy off plan again. It turned out to not be a house or development I liked once it was built.

jackjassiek

theartfullodger wrote: »

It will always be later than the seller & the builder promise.

Assume 3-6 months later & you won't be disappointed.

Thank you for your answer.

Oh, So, if my seller and builder estimate that it may be finished in August. It may be plus 3-6 months afterwards = this December or even February next year :eek: .

Such a long time to wait! (Exchange end of this April and complete next February!)

jackjassiek

comeandgo wrote: »

Hi. Our new build took over a year from start to finish. This was due to hold ups with utilities. We had sold our house so moved into furnished holiday home.

Yeah, I also heard about the delay about the utilities too!
You are a very good seller. Our seller does not want to compromise at all, nor does not want to move into rental. She just insist on completion on notice !

jackjassiek

tim9966 wrote: »

I reserved my new build in November last year when it was at foundations laid stage, now it's at the roof stage.


I was told it would be ready May / June / July when I reserved, then it was moved forward to April / May / June, now my latest date is 31 May, but I'm still expecting it to be June some time.

May I ask as follows please.

1. Do you have a long stop date?
If the builder miss long stop date, you can just get a deposit return only? Or, the builder will also have to pay any compensation or any penalty on builder?

2. Did the builder give the reason of this delay again and again? Any excuse?
Did you get any compensation for further delay ?

3. Before you move in, do you also need another survey for this new property ( I mean it can be another reason to delay more?)

Thanks a lot in advance. WIsh you the best luck for the property!

jackjassiek

Mickygg wrote: »

I bought off plan, not even a hole in the ground. I was told eta was 4 months, it ended up being 9 months! Excuse after excuse as to why the delay.
I will never ever buy off plan again. It turned out to not be a house or development I liked once it was built.

Sorry to hear that.

So, the whole process took 9 months until you move in?
Did you have a long stop date? Any penalty for builder if they miss your long stop date?

Thanks in advance.

tim9966

No long stop dates or anything like they has been agreed.

It's still on track to be within the 3 month window I was first given, just likely to be at the end of the 3 month window. I don't know if I'll get any compensation if it goes past the 3 month window.

Only a vague reason was given that they were still working on other houses, so started work on mine later than planned, but they didn't say why the other houses were also late. They can't blame the weather as it was a mild winter with no snow at all here.

jackjassiek wrote: »

May I ask as follows please.

1. Do you have a long stop date?
If the builder miss long stop date, you can just get a deposit return only? Or, the builder will also have to pay any compensation or any penalty on builder?

2. Did the builder give the reason of this delay again and again? Any excuse?
Did you get any compensation for further delay ?

3. Before you move in, do you also need another survey for this new property ( I mean it can be another reason to delay more?)

Thanks a lot in advance. WIsh you the best luck for the property!

Freecall

tim9966 wrote: »

They can't blame the weather as it was a mild winter with no snow at all here.

Whilst that sentence may seem logical to you, in the world of house building such statements are just seen as funny.

The weather can always be blamed.