Realistic Discount on New Builds When Ready To Proceed

austincource

davey16, yes completely agree, this site has at least given us the balls to hold are nerve and prepare ourselves for a hard negotiation!:T

skintlass

I too am looking at a charles church site but as they're building to order now I'm not sure how much of a reduction I'll be able to negotiate.

Davey16

Never had chance to speak to them today have been really busy and porobably the same tomoro, will keep updated though!

dubs_2

i got my new flat reduced in price by about 14K due to two valuations which came under the asking price so you could do well- if its a new place you will obviously not want to move for a while which means you don't have to worry about the market fluctuations if you can keep making the mortgage payments

SquatNow

Hold out as long as possible.

About 5 years should do it.

Then you'll get the best discount.

Davey16

Just an update, not spoken again to the charles church guy, they obviously can't be in that much of a rush to sell!

I've been using property-bee version 2, looking for the reductions in our area!

Heres a few!
£495k down to £395k 2nd july!
£245k down to £200k 5th march
£650k down to £550k 13th June
£380k down to £330k 1st July

They are the major reductions, there are a few at 5-10% but the majority are not budging!

We've set our budget to paying £250k for stamp duty reasons and to still have money aside each month for holidays etc! Wondering what price houses we will be able to knock down and if that will change much in about 4 months time?

Cheers!

austincource

Hi davey16
Austinsource here again, we are in a very similar position, we have been back to charles church, but like you dont seem to be getting the required response! we are waiting for them to contact us before we go back! so like you we have been looking at older properties, and dont really want to go over 250k for same reasons, we are looking at 4 other properties ranging from 259-280k, and planning to start with offers around -12.5% with the scope to go up to 250 if we want. We are trying to negoiate an offer on ours at the mo, so the vendors in the houses we are viewing know that we are serious, will move quickly and have a string of potential properties to offer on, therefore to consider wisely before rejecting.
As before will keep you posted, hope this helps.

Davey16

Hi austinsource, thanks for the update! Yeah i was a bit disappointed with charles church, i spoke to a manager on the phone and he said he was getting back to me with times houses would be ready and prices, then never rang back! I rang him back a few days after he said he would call and got his secretary; " He's just on the other line right now, can i take your number and he'll ring you straight back." Never rang again! A reason for this would be they might have stopped building? But it would of been common courtesy to ring me back and let me know this?

We like the look of two houses that are up for £315k and £330k but don't think we have any chance of getting them for £250k. The £315k was bought as a new build in 2002 for £145k. Wish i had this budget back then but not to worry!

there are quite a few in our area ranged £230-£285k but none of them really take our fancy and dont want to buy just for the sake of not wanting to rent in approx 3 months!

anyways, let me know if you start any negotiations matey!

Davesnave

Just anecdote, but in our town (posh) southern England, new builds on at £385K are going for £310 - £315 according to my agent, who's handling them.

Davesnave

SquatNow wrote: »

Hold out as long as possible.

About 5 years should do it.

Then you'll get the best discount.

How much is about 8% of a usable life worth? Discuss.