NB 3 bed semi - wise choice atm?

siowenson

***I posted this in the mortgage forum by mistake***

Ive put the deposit down and the house is due to be complete in june.
Its a 3 bed semi for £182000 and its located in east lothain scotland.

I bought a 2 bed apt at the same site 2 yrs ago and its increased in value by over 30k so ill be putting down a 20k deposit on the house.

Is this a really bad time to be buying a new build? I ask because someone on another thread advised not to buy a NB 2 bed apt.

carolt

Yes, it's a truly awful time to be buying a new build - unless you like losing money. But a 3 bed house is a safer bet than a 2 bed flat ATM.

Doozergirl

It was me banging on about NB apartments again. You do pay a premium for new build on the whole so you need to barter hard to get a sensible price. I do agree that houses are better than flats because they aren't so ridiculously priced that the prices go backwards immediately. I don't really have an issue with the houses other than I am a MoneySaver and don't want to pay a premium for something that isn't really premium.

You should be bargaining hard right now. There are deals to be had.

lynnexxxo

Whats the average price for a non new 3 bed semi in the area?

If they are much cheaper you could consider one of these? As previous poster said a 3 bed semi is a better bet than a 2 bed apt, you increase your market as they appeal to families as well.

siowenson

How do i find ou tthe average prices?
Is there a webby with them or do you mean i should have a look on espc etc?

Doozergirl

You can just look on rightmove and find houses of similar size. Look at the number of bedrooms and then check the room dimensions. See how they compare to the one you are buying.

I've never seen a new build house cheaper than one alreeady built.

The development we just moved from sold the last house for somewhere around £330,000. Yards from my house was an identical house, still on the market, not brand new anymore for £289,000. Where's the logic? £40,000 more for the same thing. But if people bartered with the developer, it would be feasable to get the price of the brand new one down to the same as the other one, certainly.

siowenson

Nice one. I just had a look on rightmove and persimmon are selling houses exactly like the one ive put my deposit down for for 192k in tranent(2 miles up the road). Thats 10k more than what im goin to be paying and mine is in a better area.

Here's to the best news ive heard since forever :beer: