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So Annoyed- New Build Rip Offs!
RoxieW
Posts: 3,016 Forumite
OH and I were very excited to see a new build development in our ideal area (near Leeds) with 3 bed town houses advertised as 'from £170000'.
As usual with new builds the 3rd bedroom is too tiny to be usable (6ft x 6ft) and the kitchen was also tiny but we thought hey, cant have everything. At last, we can get a house for a reasonable price.
So I called the sales office and was told that the house is actually £225000. So which ones are £170000? Non, that style house starts at £216000 - £225000. Apparently, the £170000 quoted is what that style are going from in a rubbish area about 25 miles away!
Theres no way we can afford over 200K - and wouldn't pay it anyway for a house with only 2 usable bedrooms.
Am so annoyed I just had to have a little rant. Plan now is to just keep saving up until we can afford what we want - hopefully prices wont increase any more wiping out all our hard work saving up!!
As usual with new builds the 3rd bedroom is too tiny to be usable (6ft x 6ft) and the kitchen was also tiny but we thought hey, cant have everything. At last, we can get a house for a reasonable price.
So I called the sales office and was told that the house is actually £225000. So which ones are £170000? Non, that style house starts at £216000 - £225000. Apparently, the £170000 quoted is what that style are going from in a rubbish area about 25 miles away!
Theres no way we can afford over 200K - and wouldn't pay it anyway for a house with only 2 usable bedrooms.
Am so annoyed I just had to have a little rant. Plan now is to just keep saving up until we can afford what we want - hopefully prices wont increase any more wiping out all our hard work saving up!!
MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!:j
£10 a day challenge Aug £408.50, Sept £90
Weekly.
155/200
"It's not always rainbows and butterflies, It's compromise that moves us along."
£10 a day challenge Aug £408.50, Sept £90
Weekly.
155/200
"It's not always rainbows and butterflies, It's compromise that moves us along."
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Comments
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Can Trading Standards slap their wrists as surely this is false advertising?Illegitimi non carborundum.0
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a new build in Leeds ?
give it 3 months and they'll accept a 170k offerIt's a health benefit ...0 -
Give it even longer to be able to get a mortgage on a new build. New builds are running at roughly double the bad debt rate expected so a lot of places are being far more prudent when lending against a new build.
Having had a quick search on Rightmove, there seem to be plenty of older 3bed properties, nicely decorated within the £170k mark. I wouldnt touch a new build with a bargepole personally.0 -
"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
We bought a new build 15 years ago, and felt totally ripped off at the time cos they are allowed to change the spec at any time during the build....
In the time from signing the 'order' for the new house to actually moving in, the spec lost the fully turfed rear garden, the built in kitchen appliances and the double glazing :eek::eek:0 -
I had an email from A&L on Friday stating they will now only lend on new build propertys if the buyer has 30% deposit.0
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Theres no way we can afford over 200K - and wouldn't pay it anyway for a house with only 2 usable bedrooms.
Am so annoyed I just had to have a little rant. Plan now is to just keep saving up until we can afford what we want - hopefully prices wont increase any more wiping out all our hard work saving up!!
This is a blessing in disguise. Just keep saving and you'll be able to pick up a nice property substantially cheaper than 200k in a year's time.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Just offer £170k for the one that you like and tell them that the offer is valid for 7 days. Let them take it or leave it. At least that way you will know, either way, where you stand.0
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A new build can never be cheaper than a comparable older property - unless the builder is desperate.
The profit has to come from somewhere...
(And most of them are just nasty anyway IMO!)0 -
I had an email from A&L on Friday stating they will now only lend on new build propertys if the buyer has 30% deposit.
I understood that to be for flats only not houses?
Appears it is, according to this link:
http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=154214&d=340&h=341&f=342In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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