Kier New Build

ftb2019

Hi all! I am very new to all of this & this is my first post.
My partner and I have recently reserved a property off plan - so it is a new build - with Kier Homes. We are two young, first time buyers looking for some advice.
I haven't seen many recent threads about them so wanted to start one.
If anyone has bought, or in the process of buying with Kier, are you able to drop your experience in the responses please? We have not heard a lot about them, but what we have heard is mostly positive.
I would also love to know if you have any ideas of the optional extras - they do seem to offer SO much as standard but I'd love to see the optional extras as we will be looking into getting a dishwasher for the kitchen and this is not specced as standard on the 3 bed we reserved.
Thank you in advance

Davesnave

News about Kier wasn't particularly positive last week:


https://www.thisismoney.co.uk/money/markets/article-7098543/Kier-Group-shares-crash-lowest-two-decades-HS2-contractor-issues-shock-profit-warning.html

ftb2019

Not to sound silly, but this wouldn't affect someone buying a property with them, would it - it would just be investors & their share amounts that would be?

Correct me if I am wrong by all means, I just wasn't aware if this affected those buying a property.

danlewi2

Company folds = no homes built

ftb2019

Ah, very true!
Thank you for clarifying - will keep everything crossed that this is not the case as we have been renting for 6+ years and have finally found the ideal first home!

Davesnave

ftb2019 wrote: »

Not to sound silly, but this wouldn't affect someone buying a property with them, would it - it would just be investors & their share amounts that would be?.

There's no direct link, but if a company is in trouble, it will seek to reduce costs, which may mean corner-cutting across its range of business. Seeking lower prices from suppliers and subcontractors could conceivably affect future home owners, if it results in a lowering of quality standards.

ComicGeek

For contractors it also means that they start delaying payment to subcontractors even further. So it can mean subcontractors going bust part way through the job, or pulling off site because they're not getting paid. Either way it affects quality on site.

ftb2019

ComicGeek wrote: »

For contractors it also means that they start delaying payment to subcontractors even further. So it can mean subcontractors going bust part way through the job, or pulling off site because they're not getting paid. Either way it affects quality on site.

Ah right okay, I will definitely be keeping an eye on all of this in that case - I didn't realise how much goes on 'behind the scenes' as such!

Smellyonion

I really doubt Kiers share price has anything to do with you buying a house. If the firm collapses, you cant exchange on thin air, you wont lose all your money....
Even the warranties are through third parties like LABC. Their share price has always been over inflated, they were making mass profits because of the HTB and intern had huge yields. All home builders have seen their shares sink as the market recovers to more a normal growth pattern.

Cakeguts

Do not expect to sell this shortly after buying and expect to get what you paid for it. New builds have a premium on them and they lose value as soon as you buy them. You may not get what you paid for it for at least 5 years.

ftb2019

Cakeguts wrote: »

Do not expect to sell this shortly after buying and expect to get what you paid for it. New builds have a premium on them and they lose value as soon as you buy them. You may not get what you paid for it for at least 5 years.

Thank you - we are not planning on moving from the home (once we are in) for at least 8-10 years due to it being our first and we are in no rush to have children just yet so this will not be an issue for us