Help! We want a New build!!

chickmug

I would add to my post earlier that even in good times many builders have a structure where they allow an amount of money (for haggling) on every plot and more on the poorer plots. It may be money or benefits like carpets, landscaping, etc. The sales staff are paid really good commission and it is often based on 'the less they concede' the more they will earn in commission.

It is a like a game of poker - holding your nerve hoping they get back with a good/better deal but at the same time thinking would they have gone lower if you had waited longer.

consnmattsmom

We are part exchanging for a new build with Bellway. We are paying the asking price but are getting a good deal in my eyes.

Our house has been on the market for a month at 112500 and no takers. We would have been expecting to get around 108000 for it. Bellway are paying £8500 off our house price (ie the deposit), giving us 100000 for ours and they are paying stamp duty and all legal fees and carpeting property all through in carpets of our choice.

We have technically got over our original asking price, we would also have had all the expenses as well to pay.

The house we are buying is 169995 and think its a good size for the price considering others that are up for sale around here.

Have we made the right decision?? Who knows but lets hope we have.

MobileAddict

I think you will know yourself if you have got a good deal! The issue I have really is that as Halifax are saying that property has only risen by 1% since this time last year, then it asumes that we will get a cheeky offer on ours! We got an offer that was 20k below our asking price and we binned it because we thought it was cheeky and they were in a position to move in NOW and ours isn't even built, so for us, it was a non-starter. However, should someone come to us in a few months time and offer us 20k below, are we in a position whereby we could ask the developers to reduce theirs in line, as a percentage reduction?!

At first, we thought it was a good deal, but the fact that they are not being snapped up and the way the mortgage market is, makes me think that we should be putting our foot down on this and start negotiating!!!

Dinah93

I don't know about the smaller developers, but a friend works for Bellway up here in Cleveland, and they have been told they have £20k to knock off the price of the 4 bed houses during negotiations, which currently are up at 190k before they even have to go to the senior sales staff to okay further reductions. This is excluding the usual package of fees paid, deposit paid for FTBs, carpets and a kitchen upgrade that they usually throw in. This makes the 4 beds the same as the 3 beds were going for 4 months ago when most buyers apparently settled for 1-3% off the asking price. Don't be afraid to ask for more, at worst they turn you down, and you settle for the original offer if you are still willing to pay that.

D x

mwhitt

we put a deposit on a 295k wilsons new build a couple of weeks ago, we had to go back last weekend to see what there offer for ours was as we were using there px offer they offered 35k under our current asking price 20k less than what we said we would accept at the 1st meeting but then offered stamp duty paid 7k cashback we then asked for carpets , tiling on kitchen floor, fully tiled bathroom, fitted cupboards, & a few other bits & wanted another 10k off he said no we walked . by monday the phonecalls started they said they can meet us 1/2 way & knock 5k off we have rejected again mainly due to finding a home thats hardly been used in 5 years just weekends etc for 10k more but which ea says is open to offers. so we have knocked ours down to 200k & have said to ea that we want to sell & have said 190k would be ok & maybe lower , seems to have got things moving with viewings everyday this week

regarding profit margin wilsons is owned by barrats which in dec reported 16% profit margin on plots i would assume all builders have similar rates , might be less this year but there will always be people who pay asking price so wont be much less i would expect

inthe80s

were buying a new build with bellway, the house we want was up for 186 000 in november, and they reduced a number of them to 170,000 by feb (because there the last plots apparently), we then got a futher 5% off, plus a reasonable price price for our house in a part ex. we didnt manage to get carpets thrown in though , we did keep asking, but they wudnt budge on that.