Negotiating on a new build

Rivernight

We are looking to buy a new build, 5 bedder which is at the very top of our budget at £485k, the developer is David Wilson.
The house we are selling has fitted wardrobes in each room so no furniture to take with us for the bedrooms. I've calculated that the stamp duty will be £14k and I think with additional flooring and putting in fitted wardrobes it will be a no go...but we really like the house.
I could really do with some advice on how we can negotiate with DWH as never bought a new house before. We already have a buyer for our home but we really need them to offer something in terms of flooring, fitted wardrobes perhaps in the master and/or some contribution to stamp duty. I know that 5 bedders just sell as quickly as say 3 bedders. Any info, much appreciated.

sst1234

Rivernight wrote: »

We are looking to buy a new build, 5 bedder which is at the very top of our budget at £485k, the developer is David Wilson.
The house we are selling has fitted wardrobes in each room so no furniture to take with us for the bedrooms. I've calculated that the stamp duty will be £14k and I think with additional flooring and putting in fitted wardrobes it will be a no go...but we really like the house.
I could really do with some advice on how we can negotiate with DWH as never bought a new house before. We already have a buyer for our home but we really need them to offer something in terms of flooring, fitted wardrobes perhaps in the master and/or some contribution to stamp duty. I know that 5 bedders just sell as quickly as say 3 bedders. Any info, much appreciated.

Do you have a link for the development. Any strategy you adopt will depend on how popular the development is. If it’s in early stages, then you are likely to not have much leverage. But if most of the houses on the development are sold then you can ask for more. Also is the plot ready or is the build months away?
As a rule of thumb, developers will offer extras and price this up as incentives, because of course the price they tell you is more than it costs them to install those extras. The second most popular type of incentive is stamp duty/legal fees, this can be a sizeable benefit for higher priced properties. Finally, if they are desperate or properties are moving slowly they will offer a deposit contribution. Start with the wardrobes, flooring, upgraded kitchen etc. Ask for 6-7% of the value of the poverty as extras and expect to be negotiated down to 5%.
If the plot is built and you sell your house and go in proceedable buyer, you are in a stronger buyer.
Your question is a piece of string type question without knowing more detail.

Treacle10

David Wilson paid our £14,000 stamp duty and the flooring. Definitely possible. Ask nicely, I was really clear that without some help we couldn’t do it, but really wanted the house. And I was very grateful.

csgohan4

they will unlikely budge on the house price to keep their future sales up.

but may compromise on sdlt, fittings etc

HanPop

With all of the new builds on the estate we’re buying on you get £5000 per plot worth of incentives. So the house we were buying was already built and had ‘upgraded’ kitchen, flooring and carpets included and that left about £1700 for them to contribute to stamp duty. However our sale fell through and we had another offer on our house which was too low (by quite a lot) and they came back within 24hours with a deal for us (money knocked off house price, stamp duty paid and £2000 cash back). This good deal only happened because of a few things though - they know us and we originally reserved that plot back in feb and got to exchange when our buyer decided to pull out, they’ve only got a few houses remaining before they move off site, and obviously the houses haven’t been flying off the shelves and we’re a trusted buyer as we went so far with the purchase last time.
I’d be honest with them and tell them that without fitted wardrobes and some stamp duty paid you can not afford it. They can only say no and you’d have given it a go. I never expected they’d come back with a deal for me that knocked thousands off the house so you might as well ask.