New Build Optional “Extras”

BigMank

Hi
We are in the process of buying a new build, (there’s 3 in the chain),and are Cash buyers.
Met with the developers yesterday to choose “Optional extras”, ie flooring, built in wardrobes, dishwasher, outside tap, outside socket etc.
Total cost amounted to just over £13,000, which is a heck of a lot, but I would say, they are not over the top “Luxuries”.
They obviously want the “extras” paying for now, which I can understand,and before the exchange of contracts. We have they money set aside, but, my question is, if the house sale falls through, is there any insurance we can take out if it falls through, and we can get reimbursed.
Many thanks in anticipation
Keith

AdrianC

Nope. You are paying for the options to be built into the house.

If you later decide not to buy the house, the options were still installed at your request.

Have you considered whether it would be cheaper or give you a better choice to get these things installed yourself post-purchase?

Wanderingpomm

You can get built in wardrobes from
companies such as glide-robes which will probably be better and cheaper. I’d shop about before committing 

comeandgo

If the developer is able to do the extras during build then there is no vat charge on them, get another company in after completing and they will charge vat.

OldMusicGuy

Like Adrian said, no chance. This is the risk with new builds.

Like other posters said, either get quotes from local companies to see if they are competitive and look to source some electrical items like fancy ovens yourself (often cheaper than the price quoted by the developer). For small items, like additional sockets and light fittings, you can get the electrician on site to do them. We had some additional light fittings and electrical sockets installed in our new build by the electrician working on site and he was much cheaper than the price quoted in the extras list.

However, if you want everything done and made good before you move in you will have to bite the bullet.  

gagahouse

OldMusicGuy said:

Like Adrian said, no chance. This is the risk with new builds.

Like other posters said, either get quotes from local companies to see if they are competitive and look to source some electrical items like fancy ovens yourself (often cheaper than the price quoted by the developer). For small items, like additional sockets and light fittings, you can get the electrician on site to do them. We had some additional light fittings and electrical sockets installed in our new build by the electrician working on site and he was much cheaper than the price quoted in the extras list.

However, if you want everything done and made good before you move in you will have to bite the bullet.  

Not necessarily, it depends on the developer. Didn't have to pay for my options till completion with one of the large national house builders.
OP I was a cash buyer too, I insisted on not paying until completion. After all I exchanged 28 days after reservation and had to wait 9 months for the house to be completed.

macman

They will be applying a substantial mark up on things like this: it's playing to the perception by buyers of ne- builds that everything should be in place and shiny and perfect from the day of completion. As others have said, if you can resist that temptation, then you can customise the property much more cheaply, and probably to a better quality, by employing your own contractors later.

OldMusicGuy

gagahouse said:

Not necessarily, it depends on the developer. Didn't have to pay for my options till completion with one of the large national house builders.
OP I was a cash buyer too, I insisted on not paying until completion. After all I exchanged 28 days after reservation and had to wait 9 months for the house to be completed.

So moral of the story, check the extras form for ts and cs. We were cash buyers and did negotiate various deals (although we bought last March) but the developer insisted on payment for extras upfront (with no refund) otherwise they would build with standard fittings. 

Wanderingpomm

comeandgo said:

If the developer is able to do the extras during build then there is no vat charge on them, get another company in after completing and they will charge vat.

They might get this discount, I’m not sure they will pass it on!

Slithery

Anything that should be done during the first and second fix I'd get done by the developer, outside tap, extra sockets etc.
Everything else I'd do after you're in as it will be much cheaper.