Bellway Discounts????

james0101_2

We are currently in process of buying a new Bellway property. What is the right amount of discount to ask for? They have offered 5%. Do you think in the current climate that 10% is unreasonable?

Thanks, all comments welcome.

Kez100

In the present climate I would be looking for a great deal more but, of course, it depends on many things - is this the last plot, or the first. A wonderful plot with the best views and gardens, or an average or poor one. Have they reduced the price already (many I have seen haven't - so that would alert me to much bigger discount).

In fact, if I was in a strong position I wouldn't be buying at all unless I nabbed a fantastic bargain.

Jorgan_2

My neighbours son is buying a Bellway property at the moment and he has also been offered a 5% discount. I advised him to try & get a better deal & they have agreed to put in a fridge/freezer and pay his legal fees. I advised him to go back and try for a bigger discount, he is worried he may loose it & it is the last one bedroom property on site. His dad went down yesterday & is now waiting on a call from the area manager to see what the best price is.

m1ntie

I would be looking for at least 15%. The value of your new home is likely to be reducing every month for the next couple of years. Someone on this board posted a 17.5% reduction on a new build this week.

glen8

We have just done a part-ex with Bellway. If you have already sold then you will obviously get a better deal than we did.

New house on the market for £229,950

We managed to get it down to £199,950

The house we have part-ex'd was worth £100,000 and we managed to get £110,000

also:-

Free Carpets, Curtains, Blinds, Tiled Floor and fully landscaped garden

Due to doing a part-ex we didn't have to pay estate agents fees or a HIP so that's a 1,500 saving

so in answer to your question, if you want to match our deal on a like for like cash basis I'd be going for a 20% discount

neverdespairgirl

james0101 wrote: »

We are currently in process of buying a new Bellway property. What is the right amount of discount to ask for? They have offered 5%. Do you think in the current climate that 10% is unreasonable?

Thanks, all comments welcome.

I think buying a new house at the moment is unreasonable in itself.

glen8

neverdespairgirl wrote: »

I think buying a new house at the moment is unreasonable in itself.

please explain?

neverdespairgirl

The futures market is factoring in significant drops in price by the end of the year, and mortgage lending is getting tighter, not easier.

Developers are likely to get more, not less, keen to sell.

So buying now gives a significant risk of serious equity loss, and more likely in new build houses than other houses.

dopester

Grrrr 5% and 10% discounts

Just read an ancedotal this morning of a guy getting his new build from developer... haggling from £375,000 to £325,000... and then he asked them to knock another £40K off the price to £285,000 and they did without any fuss.

And that's not enough of a discount to turn me on.

dexters_mum_2

Certainly I'd go in asking for the biggest discount possible, if it were me I'd be looking to get a 15% or so reduction to begin with but be open to negotiation, they may offer incentives such as carpets, appliances which may be of interest to you, depending on what you need, certainly if you don't need any carpets, blinds applicance, go for the discount option.

I know Bellway in my area have dozens of empty new builds just waiting for someone to love them and they have said offers invited on the new props by me.

glen8

neverdespairgirl wrote: »

The futures market is factoring in significant drops in price by the end of the year, and mortgage lending is getting tighter, not easier.

Developers are likely to get more, not less, keen to sell.

So buying now gives a significant risk of serious equity loss, and more likely in new build houses than other houses.

We all know house prices will go down, but so will the house they are currently in.

If you can get top dollar for the current house and a big discount on the new one then why wouldn't it be a good time to buy? Especially if you can nip in and secure a good mortgage rate.

You need to work out that balance and budget in enough of a buffer to prevent negative equity.