Shared ownership new build price

Plasticman

Hi. A friend of mine has just come out of a messy divorce and is looking to buy a share in a new build shared ownership house. They're not on the market yet but he was asking me whether I knew if there'd be scope for him to negotiate down the price when they are. I have absolutely no idea never having bought a new build or a shared ownership property! Does anybody know if there's likely to be any wriggle room when the housing association put them on the market?

DE_612183

depends on a lot of things - primarily supply and demand.

MyRealNameToo

Plasticman said:

Hi. A friend of mine has just come out of a messy divorce and is looking to buy a share in a new build shared ownership house. They're not on the market yet but he was asking me whether I knew if there'd be scope for him to negotiate down the price when they are. I have absolutely no idea never having bought a new build or a shared ownership property! Does anybody know if there's likely to be any wriggle room when the housing association put them on the market?

Its a sale like any other so in principle you can however around here they are massively over subscribed as too many builders pay the premium not to include affordable housing and so no chance of getting below asking price as they'll just sell it to one of the other 30 people that want it at asking. 

gwynlas

Very unlikely as sales by HA not developers. In my experience shared ownershi are even more expensive that properties on the open market not massively so but they show up against comparables.

I would not purchase on a mixed SO and HA tenanted development either as you run the risk of anti social behaviour which would devalue owner occupied properties,

eddddy

Will the shared ownership scheme be run by a Housing Association?

If so, it's very unlikely that they will negotiate on prices. But if the properties are on the market for some time and remain unsold, the Housing Association might reduce the asking prices.