Offer price for a new build?

houndluff

Hello,

I'm after a little bit of advice.  I'm considering putting an offer in for a new build, but not sure where to start as obviously I don't want to pay asking price.  It's not built yet, but is due for completion late 2023, and has been on Rightmove since May.  It's currently on for £300K, and I'm not in a chain.

Thanks

BeerSavesMoney

You can try and offer a lower price however the developer may not move on the price however can instead offer incentives such as £ towards your deposit, upgraded appliances, kitchen, flooring etc

Bigphil1474

Is it a single new build, or part of an estate? If the latter, I suspect you might get some joy. Also, see if the listed price is from May - they may have already reduced due to market changes. If that is the original price, then a lower offer would be more accurate anyway IMO. 

When you say you aren't in a chain, does that mean you are a cash buyer or you just have your house to sell? Cash buyer would be preferable to the seller. Bear in mind they don't really need to sell today as it isn't finished yet, and may not be finished on time.

Assuming that was the price in May, I'd look to be offering in the region of £275k. If they reject it, you offer more or look elsewhere.

MultiFuelBurner

We have haggled face to face in the sales office on new builds before and walked away to receive a phone call accepting our offers.

So are you good at haggling?

Bear in mind new houses rarely rocket in price in the first few years, especially if the development is still being built. 

However if this is a long term home it really doesn't matter.

Section62

Bigphil1474 said:

Is it a single new build, or part of an estate? If the latter, I suspect you might get some joy. Also, see if the listed price is from May - they may have already reduced due to market changes. If that is the original price, then a lower offer would be more accurate anyway IMO. 

Equally, if the latter, it might be the token property on the estate they have marketed this way to get the development a presence on Rightmove, with no real intention of selling it that way.