Realistic Discount on New Builds When Ready To Proceed

chelle

On market for £330,000, we put an offer in of £270,000, and also had included carpets, turf,fencing and stamp duty paid.

It was accepted.

Our mortgage offer valued it at £285000.

I think try a stupid offer, they can ony say no.

Builders do not always have a huge figure to play around with. We are also on the other side of the table, and could afford a 5% offer on the property, tops.

As for all the people who say don't buy, noone knows what is going to happen, I know plently of people who have sold/bought in the past few months. Also the figure is always UK wide, not area specific, I know in the paper the other week, in Wales, they said we have seen a 2.5% fall, but area by area, TENBY has seen a 10% rise, Newport an 8% rise etc.

I know for us, we have rented for the past 3 years, and are now ready to buy, we sold our house in 2004, and in that period of time, where we live, house prices have not risen and have stayed the same. While renting the house is not "ours" and is difficult to make our home, whereas buying gives us that choice.

jammie*dodger

Davey16 wrote: »

We are in a position to proceed, we had the financial advisor round last friday, and he said there was a number of mortgages available to us, I have also spoken to the HSBC and the Halifax who said they had mortgages available to us with the deposit we had. Our advisor says this is down to us both being in professional jobs which are classed as fairly secure(as secure as you can get today) with good pension schemes!

Are you sure? Our buyers were dropped after 5 weeks with the Abbey being told that they "would" get a mortgage no problem. The eventually seem to have secured one with a different vendor but even that has taken 4 weeks to get organised.

JD

Davey16

We have a mortgage advisor as a family friend who tells us that there will be no problem what so ever in getting the mortgage, (don't know wether this is down to the jobs we are in!). Also, we bank with the Halifax and since popping into to speak to their mortgage advisor 2 weeks ago, the phone has not stopped to se if we got a mortgage sorted and asking us to speak to them again before we go ahead with anything!

Back to the renting scenario, the problem i have with it is that i don't believe we would be able to settle knowing it wasn't our home (much like what we are feeling now living in). So really want to this as a last resort.

I'll just keep in touch with the builders and see what comes up at their year end.

But, I certainly won't be paying £250k for a £280k new build at 'the bargain' the sales woman told they might be able to accept!

EdInvestor

Davey16 wrote: »

We are looking at buying a new build and have at least a 10% deposit put away depending on house price. How much should we be looking at offering under the asking prices of new houses prices £280k up to £420k in the current market.

That's a rather large range. How much deposit did you say you had?

Davey16

deposit will be around £35k, but if we max out on deposit we will need stamp duty paid!

ioscorpio

Southcoast
In order for the sale to be complete by the end of the financial year, to be counted for their yearly figures, you need to be reserving by the end of June so that you can complete within 28 days.

Davey16

EdInvestor wrote: »

That's a rather large range. How much deposit did you say you had?

that was the range of the 'stock' properties bellway had left, we cant go to 425k sorry if i didnt explain myself right! I would think the most we are going to pay on any house taking into account the stamp duty will be £250k.

Charles Church also have a site near us, with homes steadily increasing in price from £216k through to £450k+. I'm supposed to speaking with an area manager tomorrow, and a bit nervous of how 'cheeky' to be with offers in the worry of making him think i'm just time wasting!

i'm tempted to ask for a £335k house for £250k with carpets etc etc, long shot but he can only say no right?

austincource

davey16 will be intersted to hear how you get on with charles church, we looking a another one of their sites and was thinking of going for 250k on house up for 280k and thought we would be pushing our luck. please keep us informed of your progress I will do the same!...good luck

gingin_2

http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=443472&in_page_id=8

I really like a newbuild in my town, but it is sooo out of my price range I never imagined we could afford it. Now at least a 35% reduction to get it within our price range does not seem unfathomable....still holiding tight though.

Davey16

austincource wrote: »

davey16 will be intersted to hear how you get on with charles church, we looking a another one of their sites and was thinking of going for 250k on house up for 280k and thought we would be pushing our luck. please keep us informed of your progress I will do the same!...good luck

Will do, the more i read on this website the less embarrassed i'm going to feel about a low offer, at the end of the day, if they say no were are no worse off are we!