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First homes scheme purchase
tsi96
Posts: 1 Newbie
Hi
looking for some advice. I have a home reserved on the first homes scheme which I love (first homes scheme gives 30% off sale price but must be passed on when sold to next owners).
the valuation has come back saying they approve the price requested by the developer as new, but think it would be unattainable as a second hand property for some time. Should I raise this with the developer, especially given the state of the market at the moment? I have checked other properties for sale at the moment and the new build premium seems significant, I don’t want to be ripped off as a first time buyer.
thanks
looking for some advice. I have a home reserved on the first homes scheme which I love (first homes scheme gives 30% off sale price but must be passed on when sold to next owners).
the valuation has come back saying they approve the price requested by the developer as new, but think it would be unattainable as a second hand property for some time. Should I raise this with the developer, especially given the state of the market at the moment? I have checked other properties for sale at the moment and the new build premium seems significant, I don’t want to be ripped off as a first time buyer.
thanks
0
Comments
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The valuation approves the price requested by the developer as new, and you are buying the property as new. They're unlikely to entertain any conversation about price reduction given that.tsi96 said:Hi
looking for some advice. I have a home reserved on the first homes scheme which I love (first homes scheme gives 30% off sale price but must be passed on when sold to next owners).
the valuation has come back saying they approve the price requested by the developer as new, but think it would be unattainable as a second hand property for some time. Should I raise this with the developer, especially given the state of the market at the moment? I have checked other properties for sale at the moment and the new build premium seems significant, I don’t want to be ripped off as a first time buyer.
thanks
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It is common to lose value between first owner and second with a home if you only stay for a short time, likely less than 5 years minimum. This is because there is a shiny new premium,mand in theory lack of maintenance.
This is the same as other major assets such as a new car.
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Beware of these schemes though. When it comes time to sell it will be harder to find a buyer, and you have to get another approval for the sale price etc.0
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