Negotiations when Buying a New Build

NSH90

Hello.
My husband and I are looking to buy a new built and were wondering about negotiating the price down. How low can we go in with our offer and whether most developers budge? Does anyone have any tips or experiences with this?
Thank you!

spadoosh

You can go as low as you want. They can refuse anything they want.

A developer will budge if they believe the property isnt going to sell at the price that has been set, they will not budge if they believe the property will sell easily at the price set. The issue with this is you kno the price before you view/see the property and still choose to look around, if youre considering a bid, you like the property and for all intents and purposes know what the price is. You can try offering but if your interested chances are other people will be. If you where interested at the price that made you view it, other people will.

Anecdotal, but it seems the typical negotiating tactic is to negotiate for the extras as opposed to trying to get the price down. So the better kitchen model, nicer floor coverings etc etc.

katkatmachine

When we reserved we haggled for a lower price but they only gave us £5K off price, that was it. The development is pretty popular I guess that's why they din't give much discount (or probably we were not good in negotiating).

P.S.
All extras like washing machine, dishwasher, fridge & freezer, cooker & hob, turf and fence are already included in the price.

RelievedSheff

They are unlikely to budge on the asking price but depending on how well the development is selling they may add in some extras and incentives, but if the development is selling quickly they may not even give much in the way of incentives either.

The plot we bought last year had already been heavily discounted as it was a plot ready to move into and not sold so sitting around on their books. We got no further discount on the price but we did get a decent part exchange on our old property, £10k deposit contribution, stamp duty paid, legal fees paid, free flooring and moving costs contribution.

Stenwold

It's always worth having a go, the worst that can happen is they'll say no. If you don't ask, you've already got the no!


Agree with the comments already posted on here; I managed to get about 5k off the purchase price of my new build, but I also negotiated a fridge freezer, washing machine and flooring. The 5k didn't make much difference with the monthly payments but the extras thrown in made a massive difference.


Good luck

foxy-stoat

We got flooring, SDLT, turf, washing machine and £10,000 off the RRP. Sales staff where pretty open, they even told me how much they needed to nett when they sold so knew how much to give as an incentive.

So developers will give you nothing and everything has to be paid for.

Dancer11

We didn’t get a reduction in price, but got £1000 off legal fees and carpets to lounge, stairs and bedrooms. All other flooring, white goods, turf etc were included as standard.
We reserved as soon as the site started to release properties, (ours wasn’t even due to be released yet) as there was only 2 x 2 bed houses on the site, and the other 2 bed got reserved the day before we did