New Build

DCFC79

Was hoping to move into mine before Christmas but that might not be possible since the builders aren't at work.

lalna

100% renegotiate now if you can! I managed to get 15% off the list price and 5% of the value in incentives thrown in. I now have 28 days to complete. I figure that off the list price, incentives, plus paying another year in rent means buying now is still the best option even if property prices fall significantly. I don't plan on moving in the next 5 years anyway.

newbridge

lalna said:

100% renegotiate now if you can! I managed to get 15% off the list price and 5% of the value in incentives thrown in. I now have 28 days to complete. I figure that off the list price, incentives, plus paying another year in rent means buying now is still the best option even if property prices fall significantly. I don't plan on moving in the next 5 years anyway.

May I ask, who the builder was?

lalna

newbridge said:

lalna said:

100% renegotiate now if you can! I managed to get 15% off the list price and 5% of the value in incentives thrown in. I now have 28 days to complete. I figure that off the list price, incentives, plus paying another year in rent means buying now is still the best option even if property prices fall significantly. I don't plan on moving in the next 5 years anyway.

May I ask, who the builder was?

Keepmoat

GixerKate

GixerKate said:

Me too as I'm in the process of buying a new build.  There seems to be a lot of anti-new build comments on here but the new build I'm buying has spacious rooms, high ceilings, fully fitted kitchen and bathroom as standard.  Got a decent sized garden too.  I think while there are some new builds that aren't great, but I also think there are plenty of good ones too which funnily enough, isn't so different from 'normal' houses!

Bit of an update - my buyer has pulled out so am not sure if its all going ahead for us now.  Still want to but can't exactly get a buyer in the current climate so will have to see.  I guess if things do take a downward turn in the housing market there is the possibility of renegotiating the price of the new build.

newbridge

GixerKate said:

GixerKate said:

Me too as I'm in the process of buying a new build.  There seems to be a lot of anti-new build comments on here but the new build I'm buying has spacious rooms, high ceilings, fully fitted kitchen and bathroom as standard.  Got a decent sized garden too.  I think while there are some new builds that aren't great, but I also think there are plenty of good ones too which funnily enough, isn't so different from 'normal' houses!

Bit of an update - my buyer has pulled out so am not sure if its all going ahead for us now.  Still want to but can't exactly get a buyer in the current climate so will have to see.  I guess if things do take a downward turn in the housing market there is the possibility of renegotiating the price of the new build.

sorry to hear that...surely you can renegotiate your purchase
Did you put any reservation fee for your new build? seems like the completion dates would be delayed with majority of builders unless its already built.

GixerKate

newbridge said:

GixerKate said:

GixerKate said:

Me too as I'm in the process of buying a new build.  There seems to be a lot of anti-new build comments on here but the new build I'm buying has spacious rooms, high ceilings, fully fitted kitchen and bathroom as standard.  Got a decent sized garden too.  I think while there are some new builds that aren't great, but I also think there are plenty of good ones too which funnily enough, isn't so different from 'normal' houses!

Bit of an update - my buyer has pulled out so am not sure if its all going ahead for us now.  Still want to but can't exactly get a buyer in the current climate so will have to see.  I guess if things do take a downward turn in the housing market there is the possibility of renegotiating the price of the new build.

sorry to hear that...surely you can renegotiate your purchase
Did you put any reservation fee for your new build? seems like the completion dates would be delayed with majority of builders unless its already built.

Thanks, it does suck right now.  I do have a reservation in place, the fee is refundable so if the worst happens I do get my money back.

Debsbonno

We were in the process of buying a new build before Covid 19 started. The builders have obviously now stopped and the solicitors & builders are pushing for us to exchange contracts, should we do this? Our Mortgage lender have confirmed that they have extended the mortgage offer for us for 3 months. We are concerned about the mortgage terms being reduced and therefore the monthly payments increasing, could this happen? Should we pull out of the house buy? Please help? Thanks 

newbridge

why are solicitors pushing? were they recommended by the builders?

Sailtheworld

newbridge said:

why are solicitors pushing? were they recommended by the builders?

They're doing what they were instructed to do by their client and won't get paid until either the deal completes or they're instructed that the client no longer wishes to proceed. At that point, depending on what the agreement was, they may well invoice for work done to date.