Money Off New Build

giger

Well you definitely pay a premium for new builds. Our house was built 5 years ago but developers are still building on the outer edges of our estate. You pay considerably more for these newer homes for the privilege of being the first owner and being able to spec the kitchens etc.
When we looked at a new house on our estate, even 2 years ago we were offered a £220k house for £190k with lots of freebies by Bryants.

Also, the sale of the new houses now are falling through, with new builds altering constantly between sold/for sale.

£230k? I'd be seriously thinking £170k and tbh you probably stand a good chance of getting it

desiman

Shandyboy, 170 or so would be a good offer, as the cardiff new build market is really suffering at the moment with the oversupply of houses/flats.

What area is it in ?

shandyboy

Cheers for your post. The development is in Radyr.

AMILLIONDOLLARS

I bet he won't listen :sad: we advised Clare66 not to buy at the developers over inflated price, but it seem she loves to give her money away!!

£170k and not a penny more!! here we go again:rolleyes: !!!!


AMD

Kez100

You can lead a horse to water......

Gamblers throw money away every day and there isn't a blind thing we can do about it. TBH if they won't even listen to a valuer who was paid to give advise they are hardly going to listen to us.

austincource

just a quick comment from someone currently on the market and looking at a range of old and new properties with the plan to get a good deal....your comments on this site are all valuable and read with interest and we take on board all of your comments and suggestions, and mull them over whilst working out whats the best thing to do, so whilst people may or may not act upon your advise it is actually quite helpful to spark disucssion (with partner) and thought as to the best options.
.....so...Based on this are we mad to think that we are putting in a cheeky offer of 250k for house listed at 285k...i think you will tell me im crazy, am i right? (please be kind) Many thanks

Bf109

austincource wrote: »

.....so...Based on this are we mad to think that we are putting in a cheeky offer of 250k for house listed at 285k...i think you will tell me im crazy, am i right? (please be kind) Many thanks

If its a new build I would not go above £220 as an opener.

mrsnow101

Hey Shandy,

I’m also from the Cardiff area and have a keen watchful eye on the property market.

My sister is a conveyancer, and she has heard stories about people putting ridiculously low offers in on new builds – particularly in Radyr/Bridgend areas (I’ll ask her for specifics).

I think you need to look at the housebuilders themselves and judge how strong a position you think they are in… Barrett for example have gone through a torrid time of late. It was only two weeks back where several brokers strongly advised against buying their stocks… I would imagine there is plenty of scope for negotiation with one of their homes as they need the cash to shore up their ailing balance sheet. That’s off the top of my head – not sure how Bryant are performing (although the sector in general has taken a battering).

Why don’t you ride it out for another 12/18 months?? (the property crisis is by no means over – people will be coming off their fixed rates during this time, looking and struggling to re-mortgage.). There is an absolute abundance of rental property available in the Bay – and you do have quite a bit of scope for negotiation rental wise – play this to your advantage.

My two peneth anyway.

shandyboy

Mr Snow,
thank you for your advise. I have had a look at the taylor wimpey share price and it has dropped to 57p from around the 160p mark in the last 3 months! As with barratt, I am sure there is a lot scope for negotiation with bryant. If you could get any more info from your sister I would be very greatful. Cheers again,
Shandyboy

amcluesent

The thing about buying a new-build is you're negotiating about a purchase you make very, very infrequently. Their job is negotiating, day in day out. Do you see why this isn't favouring you?

Anyhow the build quality of these places is terrible, all the more so if its been flung together so that it can be flogged off and get some cash flow in. As the builders risk breaching their debt covenants, the greater the incentive to bodge the job and get shot of to a punter/HA.

Right now, auctions are where I'd be looking. The market will find the price which matches buyers and sellers.