New build sale question

jupiter5650

I bought a new build 3 bed semi in September 2017. The estate was very new and is still being built with a lot of building still to happen.
New build properties on my estate exactly the same as mine are being sold for £15k more now than I paid and have been for a number of months.
Bearing that in mind, would I be likely to be able to recoup my investment or a little extra in the near future if I was to sell as my second hand house would be cheaper than new and I'm in the bracket of no stamp duty for 1st time buyers. I haven't done any work to the house (including decorating) other than creating space in the kitchen and having plumbing put in for a dishwasher.

foxy-stoat

You will sell it for the market value when the time comes - what ever that will is any ones guess but you would of lost the "new build premium" is there was one.

hazyjo

While they're still building, buyers are likely to pick a new build over yours. They're not going to pay the same price. Which would you choose?


When finished, they'll all be 'second hand' so yours shouldn't be worth less than anything that sold slightly later.


Who's to know what the market will be doing when you sell...


So guess it depends on what you mean by 'near future'.

jupiter5650

Near future means in the next 6 months or so. I know I wouldnt be able to ask what the new builds are selling for now, but if I recovered my investment, mine would be £15k less than someone would pay for new. I would hope that would be attractive enough to sell.

hazyjo

jupiter5650 wrote: »

Near future means in the next 6 months or so. I know I wouldnt be able to ask what the new builds are selling for now, but if I recovered my investment, mine would be £15k less than someone would pay for new. I would hope that would be attractive enough to sell.

Suppose it depends on how much of a premium you have all paid for the new builds. How does yours compare with a second hand house nearby (not part of your estate).

sal_III

The sale price of your current property is as much as potential buyers are prepared to pay for it. Just because similar new builds are today going for 15k more than you paid originally has no bearing on that.

The fact is that you are losing a large chunk of buyers, who look at new builds because of HTB, then you lose a big chunk of buyers who don't like new builds for various reasons and prefer older properties. Reduced buyer pool inevitably affect the sellability of your property and the price.