New Build to New Build

iViewTV

It will be yes 

GDB2222

iViewTV said:

It will be yes 

Have they actually agreed that figure? 

iViewTV

Not as of yet but been given a rough idea of that price. 

There is also a potential key worker deposit where they will give 1K per 20K spent 

GDB2222

iViewTV said:

Not as of yet but been given a rough idea of that price. 

There is also a potential key worker deposit where they will give 1K per 20K spent 

You will have a few expenses to meet, as well as the deposit. 

Stamp duty is £1300.
Solicitor maybe £2-3k
Removals £??

sheramber

How much do you to repay to Help to Buy?

GDB2222

sheramber said:

How much do you to repay to Help to Buy?

The OP has already said that they hope to get £210k for their house, and that gives them £10k equity. So, they must have £200k loans in total. Does it matter how that is split between HTB and conventional mortgage?

RelievedSheff

GDB2222 said:

sheramber said:

How much do you to repay to Help to Buy?

The OP has already said that they hope to get £210k for their house, and that gives them £10k equity. So, they must have £200k loans in total. Does it matter how that is split between HTB and conventional mortgage?

It matters if there is help to buy involved because the Help to Buy surveyor will value the property. If they don't agree with the £210k part exchange price the deal will be scuppered.

Postik

MultiFuelBurner said:

If you only bought nine months ago I think that might be wishful thinking, as I suspect you'd have to lower your asking price considerably from what you bought it for.

After all why would someone buy a nine-month old second-hand house when they could get a brand new house on the same development done to their own specification,  complete with all the special offers that are tempting you yourself and the various new-build guarantees, unless it was considerably cheaper  ? 

It could also be those houses are no longer available on the site. They could demand a premium then.

Could also be, as happens regularly, every 3 months the prices go up on developments.

This is true, it seems to be somewhat dated to think that a "secondhand" new build decreases in value right away because someone could just buy a brand new one down the road to their specification.  When I was looking most of the developments were sold out and the few that weren't were increasing their prices with every build stage.  The secondhand ones were going for the same price as the brand new ones, in some cases more, because they were building them so slowly you couldn't get a new one.

newsgroupmonkey_

Postik said:

MultiFuelBurner said:

If you only bought nine months ago I think that might be wishful thinking, as I suspect you'd have to lower your asking price considerably from what you bought it for.

After all why would someone buy a nine-month old second-hand house when they could get a brand new house on the same development done to their own specification,  complete with all the special offers that are tempting you yourself and the various new-build guarantees, unless it was considerably cheaper  ? 

It could also be those houses are no longer available on the site. They could demand a premium then.

Could also be, as happens regularly, every 3 months the prices go up on developments.

This is true, it seems to be somewhat dated to think that a "secondhand" new build decreases in value right away because someone could just buy a brand new one down the road to their specification.  When I was looking most of the developments were sold out and the few that weren't were increasing their prices with every build stage.  The secondhand ones were going for the same price as the brand new ones, in some cases more, because they were building them so slowly you couldn't get a new one.

That might well be the case, but it isn't now.
Market has slowed. New Builds have slowed too. Generally, it has always been the case that New Builds come with a first buyer premium.