New homes - developers open to offers?

dush_yant

Hi,
I'm looking to buy a new home in Reading and there are a few developers - Taylor Wimpey, Bloor Homes, Bovis, Bellway, Linden, etc
Unfortunately most of the offerings are unaffordable for me.
Based on forum members past experience - are the developers likely to accept offers of around 3-4% under asking price or will I be forced to buy at the full asking price with discounts given for "upgrades" if I'm lucky?
Thanks

Cakeguts

dush_yant wrote: »

Hi,
I'm looking to buy a new home in Reading and there are a few developers - Taylor Wimpey, Bloor Homes, Bovis, Bellway, Linden, etc
Unfortunately most of the offerings are unaffordable for me.
Based on forum members past experience - are the developers likely to accept offers of around 3-4% under asking price or will I be forced to buy at the full asking price with discounts given for "upgrades" if I'm lucky?
Thanks

Reading has a huge number of modern houses. Why not go for a second hand modern one which will be cheaper than a new one?

walwyn1978

What Cakeguts said.

If you're prepared to buy off plan and move into one of the first completed properties on the development, you'll probably pay a bit less than those that move in to one of the final houses to be competed. But yes, you'll pay the New House Premium whatever. Plus a lot of new builds have issues around standards of build, size of garden/rooms, quality of finish etc.

Why new build?

AnotherJoe

dush_yant wrote: »

Hi,
I'm looking to buy a new home in Reading and there are a few developers - Taylor Wimpey, Bloor Homes, Bovis, Bellway, Linden, etc
Unfortunately most of the offerings are unaffordable for me.
Based on forum members past experience - are the developers likely to accept offers of around 3-4% under asking price or will I be forced to buy at the full asking price with discounts given for "upgrades" if I'm lucky?
Thanks

I live in the Reading area. From what I've seen, new houses are anywhere from 10-25% more expensive than the equivalent older houses. The one my daughter bought 3 years ago was far cheaper than the new ones we looked at in a very comparable area, location-wise, which were also smaller if anything, £399k new or £335 s/h. Insane price differential.

I'd also say that if a 3% drop is necessary for you to afford it, you are skating on thin ice.

luis1988

We bought with Linden Homes (off plan) about 20/25 miles west of Reading.

House was marketed at £327,000, we paid £279,000.

They put a huge markup on these so I always think there is plenty of room for manoeuvre if buying off plan.

dush_yant

luis1988 wrote: »

We bought with Linden Homes (off plan) about 20/25 miles west of Reading.

House was marketed at £327,000, we paid £279,000.

They put a huge markup on these so I always think there is plenty of room for manoeuvre if buying off plan.

Thanks for your reply. Did you buy your property recently?

ReadingTim

luis1988 wrote: »

We bought with Linden Homes (off plan) about 20/25 miles west of Reading.

House was marketed at £327,000, we paid £279,000.

They put a huge markup on these so I always think there is plenty of room for manoeuvre if buying off plan.

20/25 miles west of Reading is Newbury - hardly Reading at all, and where local conditions are going to be quite different. For example, Reading will be benefiting from CrossRail, which Newbury won't, which may increase demand and make developers less likely to accept low offers.

Furthermore, buying off plan is a completely different kettle of fish to buying somewhere which is being built - the developments which the OP mentions are all being built, not still in the planning stages.

Your anecdote is therefore almost completely irrelevant to the question being asked, but pleased you got a discount on your Linden home.

AnotherJoe

https://forums.moneysavingexpert.com/discussion/5790370