Anybody bought a "new build" well below asking price?
17 September 2010, 09:42 PM
#1
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Anybody bought a "new build" well below asking price?
I've spoken to a few people who have managed to get a few quid off the asking price of their "new build" home, just wondered if anybody here has had such luck?
We have been interested in a new estate thats just finishing construction and there are a number of plots remaining, its slightly above our price bracket. What would be seen as a reasonable percentage off the asking price, to test the water with?
We have been interested in a new estate thats just finishing construction and there are a number of plots remaining, its slightly above our price bracket. What would be seen as a reasonable percentage off the asking price, to test the water with?
17 September 2010, 09:49 PM
#2
We managed to get 25k off the price of our new build. WELL worth bartering with the house builder. Is it a big company you're dealing with?
To see what the other plots have sold for get on tohttp://www.nethouseprices.com and you can see how other purchasers got on
As a rule of thumb they usually give in 10k without much persuasion. You should be able to get more off with a little levering, but be prepared to wait for the reply, you may be surprised. Good luck, the worst they could say is no!!
To see what the other plots have sold for get on tohttp://www.nethouseprices.com and you can see how other purchasers got on
As a rule of thumb they usually give in 10k without much persuasion. You should be able to get more off with a little levering, but be prepared to wait for the reply, you may be surprised. Good luck, the worst they could say is no!!
17 September 2010, 09:53 PM
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We managed to get 25k off the price of our new build. WELL worth bartering with the house builder. Is it a big company you're dealing with?
To see what the other plots have sold for get on tohttp://www.nethouseprices.com and you can see how other purchasers got on
As a rule of thumb they usually give in 10k without much persuasion. You should be able to get more off with a little levering, but be prepared to wait for the reply, you may be surprised. Good luck, the worst they could say is no!!
To see what the other plots have sold for get on tohttp://www.nethouseprices.com and you can see how other purchasers got on
As a rule of thumb they usually give in 10k without much persuasion. You should be able to get more off with a little levering, but be prepared to wait for the reply, you may be surprised. Good luck, the worst they could say is no!!
17 September 2010, 10:09 PM
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Current climate my start point would be approx 15-20% under asking price.
As stated above - what's the worst they can do.
If they do say no - I'd walk telling them to call when they change their minds.
There's some town houses up the road from us that have been empty for a year - Builders can't wait forever to shift over priced stock !
As stated above - what's the worst they can do.
If they do say no - I'd walk telling them to call when they change their minds.
There's some town houses up the road from us that have been empty for a year - Builders can't wait forever to shift over priced stock !
18 September 2010, 01:48 AM
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The fact it's new should get you a discount in itself.
Most lenders won't give mortgages against them as they are always overpriced and built like French cars.
Most lenders won't give mortgages against them as they are always overpriced and built like French cars.
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18 September 2010, 09:33 AM
#8
The only way you will get money off a new build is if its a stock plot, I would always try and barter twice. Get a nice price your happy with on the home and go thru with the deal then a bit further down the line make some excuse for not being able to afford it at that price and offer a little less but not too stupid as it will definately be refused. Usually they will ask the MD if they can do it and if they can 
if they can't just go ahead as normal
if they can't just go ahead as normal
18 September 2010, 09:58 AM
#9
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Builders are fooked at the minute, and are having to sell at whatever they can to claw back as much as they can... haggle haggle haggle.
Most new builds in a normal economic climate will see you in a decent amount of equity after a couple years, people are picking up bargains at the minute and are seeing instant amounts (decent amounts) of equity immediately... or atleast once all plots are sold.
The time is now to buy... christmas even more so
Most new builds in a normal economic climate will see you in a decent amount of equity after a couple years, people are picking up bargains at the minute and are seeing instant amounts (decent amounts) of equity immediately... or atleast once all plots are sold.
The time is now to buy... christmas even more so
18 September 2010, 11:15 AM
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If you're using Firefox install the Property Bee plug-in and then log on to rightmove.
When I view new builds around here, I can see that Charles Church have already discounted up to £45000 from some of the houses.
It will give you a good indication of what reductions they have already made.
When I view new builds around here, I can see that Charles Church have already discounted up to £45000 from some of the houses.
It will give you a good indication of what reductions they have already made.
18 September 2010, 01:42 PM
#11
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my main issue with new builds is that they have no transactional history -- you are in effect taking the valuation the developers give it. There is no external measure/comparison to value it against
I would look long and hard at what the other properties in the developement have been traded at
I would look long and hard at what the other properties in the developement have been traded at
18 September 2010, 08:16 PM
#13
I have a 30's house and the walls are cold and the floor
is freezing on the 1st seven inches. New houses are warm to the touch due to plasterboard walls, floors maintain warm temperatues due to proper concrete floors. Thed only benefit older houses have over new builds is that they are built in better areas, if a new build is in where you want to live it is a better warmer home. I do a lot of customer care to new plots and hear a lot of everyones complaints over workmanship are pathetic. They are mainly about minute marks in plastering or the odd brush mark in the painting. Sometmes it may be about a door that doesn't close right? People should realise that houses are a hand made job and ITS IMPOSSIBLE to get everything right
I have seen thru the years old trades are the best PAH new houses are far superior to old houses its just old houses are in better areas
18 September 2010, 09:26 PM
#14
I guess if you put the house being warm at the top of your list then yep,a new house is better....
My house has walls that are 22-24"" thick without a cavity....It never feels cold in my house,and even in winter it can be too warm upstairs...
That said...My gable end doesnt bulge,my doors shut properly,all my lintels and steps are made from stone,all my plug sockets work.The internal walls arent made of 3"x"2" and platerboard,hot water actually comes out of my taps when i want it. Oh and i have more than 18" of space around my house and im not looking into the opposite houses living room..
All my rooms are generously proportioned too...
Which is more than can be said for my mates new build!!
Tell me again whats good about them ?....Oh yea,there warm...
My house has walls that are 22-24"" thick without a cavity....It never feels cold in my house,and even in winter it can be too warm upstairs...
That said...My gable end doesnt bulge,my doors shut properly,all my lintels and steps are made from stone,all my plug sockets work.The internal walls arent made of 3"x"2" and platerboard,hot water actually comes out of my taps when i want it. Oh and i have more than 18" of space around my house and im not looking into the opposite houses living room..
All my rooms are generously proportioned too...
Which is more than can be said for my mates new build!!
Tell me again whats good about them ?....Oh yea,there warm...
18 September 2010, 09:32 PM
#16
The only way you will get money off a new build is if its a stock plot, I would always try and barter twice. Get a nice price your happy with on the home and go thru with the deal then a bit further down the line make some excuse for not being able to afford it at that price and offer a little less but not too stupid as it will definately be refused. Usually they will ask the MD if they can do it and if they can if they can't just go ahead as normal
if they can't just go ahead as normal Good advice there .
A young couple I know have recently bought one .Agreed a price ,then their mortgage guy came in and said worth 15k less than they had agreed ,so went back to the builder ,who let them have it for mortgae valuers price .Cant quite remember the next bit but they had to go back to the builder again for something and another 3k was knocked off to clinch the sale .
So its well worth asking ,cos if you dont ask,you dont get .
Good Luck .
18 September 2010, 09:46 PM
#19
Horses for courses i guess......
My house is well over 200 yrs old....In my ownership i have never replaced the roof or anything because of rot,and will probably never need too.Mainly due to it being made out of better materials than the cheap crap that modern houses are made of....
My house wasnt built by half witted bog trotters with the work quality of hippie playing Jenga either..
My house is well over 200 yrs old....In my ownership i have never replaced the roof or anything because of rot,and will probably never need too.Mainly due to it being made out of better materials than the cheap crap that modern houses are made of....
My house wasnt built by half witted bog trotters with the work quality of hippie playing Jenga either..
19 September 2010, 10:38 AM
#21
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We move into our new build '****e-hole' nxt week!
I did barter hard and managed to part ex our flat for more than 10k more than what I thought it was worth, got the builder to agree to pay the stamp duty (2k) and we got 10k knocked off the asking price. So that it £22k off the asking price and we didn't have to worry about selling ours. We also took advantage of the 'head-start' scheme,where the builder will lend you 15% of the sale price (to make up the 20% required for a decent mortgage) at 0% for 10 years!
And I have to say fatscoobfella1, our room sizes are as follows:
Living room - 15.1 x 13.2
Kitchen - 11.9 x 7.10
Dining room - 9.9 x 8.3
Bedroom 3 - 9.1 x 8.3
Bedroom 2 - 10.9 x 16.3
Bedroom 1 - 17.1 x 16.3
En suite - 7.7 x 6.0
Bathroom - 6.9 x 9.5
Plus, we get a 5 year warrenty on EVERYTHING! As well as the 10 year NHBC warrenty. So yes, new builds are really poor value! Oh, and it also comes with all the carpets, appliances and garden turf. We also have a garage and parking space.
But, as for knocking them down on price, go for it, to be honest we could have knocked them down abit more. But considering what they gave us for our flat, we were more than happy!
I did barter hard and managed to part ex our flat for more than 10k more than what I thought it was worth, got the builder to agree to pay the stamp duty (2k) and we got 10k knocked off the asking price. So that it £22k off the asking price and we didn't have to worry about selling ours. We also took advantage of the 'head-start' scheme,where the builder will lend you 15% of the sale price (to make up the 20% required for a decent mortgage) at 0% for 10 years!
And I have to say fatscoobfella1, our room sizes are as follows:
Living room - 15.1 x 13.2
Kitchen - 11.9 x 7.10
Dining room - 9.9 x 8.3
Bedroom 3 - 9.1 x 8.3
Bedroom 2 - 10.9 x 16.3
Bedroom 1 - 17.1 x 16.3
En suite - 7.7 x 6.0
Bathroom - 6.9 x 9.5
Plus, we get a 5 year warrenty on EVERYTHING! As well as the 10 year NHBC warrenty. So yes, new builds are really poor value!
Oh, and it also comes with all the carpets, appliances and garden turf. We also have a garage and parking space.But, as for knocking them down on price, go for it, to be honest we could have knocked them down abit more. But considering what they gave us for our flat, we were more than happy!
Last edited by Gear Head; 19 September 2010 at 10:42 AM.
19 September 2010, 02:53 PM
#22
Hey Chris im not having a go...
Im happy that your happy with your new home....
But like i say good size rooms do not come in a new build..
A living room of 15x13 and a kitchen 11x7 ia really terraced house sizing..As is the small bathroom..
Althought the 17x16 bedroom with en suite is a great size for a new build...
I dont want to ask what you paid,as it aint my business..But if your house wasnt a new build what would be the price in your area???
Would an equivalent house thats say 80-100yrs old be worth where you live?
Im happy that your happy with your new home....
But like i say good size rooms do not come in a new build..
A living room of 15x13 and a kitchen 11x7 ia really terraced house sizing..As is the small bathroom..
Althought the 17x16 bedroom with en suite is a great size for a new build...
I dont want to ask what you paid,as it aint my business..But if your house wasnt a new build what would be the price in your area???
Would an equivalent house thats say 80-100yrs old be worth where you live?
19 September 2010, 03:51 PM
#23
We have only ever lived in new builds as I just love new. All the appliances are new too. You also haven't got to move in to a house where the decorating is not to your taste and have to spend thousands re decorating.
19 September 2010, 04:24 PM
#24
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Similar story here, at the height of "boom", they offered £10K over the valuation on our trade-in, they paid the stamp duty, and I chiselled them down by a further £10K when I played the "pauper" card just before completion...
After an '80's build we are paying 75% of our old bills, on a property twice the size. And yes if I had double the money I'd buy a stone-built cottage out in the sticks too...
dunx
P.S. The funny bit is that we are comfy, whilst our near neighbours are shedding cars like the dog sheds hair... LOL !
After an '80's build we are paying 75% of our old bills, on a property twice the size. And yes if I had double the money I'd buy a stone-built cottage out in the sticks too...
dunx
P.S. The funny bit is that we are comfy, whilst our near neighbours are shedding cars like the dog sheds hair... LOL !
19 September 2010, 06:52 PM
#25
Old house are worse than new houses as if you buy one everything needs replacing, you have to budget new electrics, new plumbing, new kitchen and bathroom new windows and god knows what else then you have to deal with the proble of the plaster falling off the walls due to being old and on lathes. New houses have at least 3 toilets/bathroos and the bedroom sizes are ok plus they all have garages. The old trades are worse than modern tradesmen as they had no standards years ago so some work is really laughable
The only good point an older house has over a newer house is they generally tend to be in better areas
19 September 2010, 07:03 PM
#26
And your experience for this is??? I did a Westoe for persimmon 2 weeks ago and this is a cracking sized 5 bedroomed house over 3 floors, The Westminster is a cracking 4 bedroomed house with double garage and main bedroom of 5mx3m with a seperate ensuite. I have done many 4 bedroomed houses that have 9mx3m kitchens and 4mx3,5m living room and good sized diining room plus toilet and utility then the upstairs matches the size of the downstairs. If your only experience of new builds is small houses I can assure you they are not all like that
19 September 2010, 09:07 PM
#27
Show me any new build that has a 30ftx10ft kitchen!!!...........lol...........that is just ludicrous room sizing.
Oh........It cant be a converted 10 pin bowling lane!!
Oh........It cant be a converted 10 pin bowling lane!!
Last edited by fatscoobfella1; 19 September 2010 at 09:08 PM.
19 September 2010, 09:17 PM
#28
Old house are worse than new houses as if you buy one everything needs replacing, you have to budget new electrics, new plumbing, new kitchen and bathroom new windows and god knows what else then you have to deal with the proble of the plaster falling off the walls due to being old and on lathes. New houses have at least 3 toilets/bathroos and the bedroom sizes are ok plus they all have garages. The old trades are worse than modern tradesmen as they had no standards years ago so some work is really laughable
The only good point an older house has over a newer house is they generally tend to be in better areas
The only good point an older house has over a newer house is they generally tend to be in better areas
Man,thats all a stoopid load of crap...
Yes,you can buy a house that needs all that work doing.. But its all worked into the buyers price...When the main things in an old house are done,then iys usually done for the length of a persons life.. Windows,wiring,electrics will last no longer in a new build than an old build.....
Its like buying a new car...... Your paying for the convenience of a company building you something. Get your **** in it,and the price goes down immedietly..
Your last 2 lines speak volumes...........As they say in all decent home buying guides.............location,location,location.
I have never seen any buyers guide telling any potential purchaser to buy and new build on a 10 bob housing estate!!!
19 September 2010, 09:28 PM
#29
How can you this...........
"The old trades are worse than modern tradesmen as they had no standards years ago so some work is really laughable"
Then say this...............
"I work for a large housing company and say 3 years ago when this all started work was dire, now they have dropped prices drastically for all workers. If there is another double dip the cost will be absorbed by the workers again and not the builders. When people complain about their precious new build not being up to thier liking they should realise the ****ty wage most people get paid now and the fact quality is gonna suffer"
And this.............
"HAHAHAHA are you serious, I reckon next year the housing market will pick up and when it does there will be some really quality(joke) houses turned out as firms try get to some good tradesmen back, most firms don't care about rubbish work unless the client spots it".
Talk about change an argument when it suits you...............
.................
__________________
"The old trades are worse than modern tradesmen as they had no standards years ago so some work is really laughable"
Then say this...............
"I work for a large housing company and say 3 years ago when this all started work was dire, now they have dropped prices drastically for all workers. If there is another double dip the cost will be absorbed by the workers again and not the builders. When people complain about their precious new build not being up to thier liking they should realise the ****ty wage most people get paid now and the fact quality is gonna suffer"
And this.............
"HAHAHAHA are you serious, I reckon next year the housing market will pick up and when it does there will be some really quality(joke) houses turned out as firms try get to some good tradesmen back, most firms don't care about rubbish work unless the client spots it".
Talk about change an argument when it suits you...............
.................__________________
19 September 2010, 09:48 PM
#30
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Man,thats all a stoopid load of crap...
Yes,you can buy a house that needs all that work doing.. But its all worked into the buyers price...When the main things in an old house are done,then iys usually done for the length of a persons life.. Windows,wiring,electrics will last no longer in a new build than an old build.....
Yes,you can buy a house that needs all that work doing.. But its all worked into the buyers price...When the main things in an old house are done,then iys usually done for the length of a persons life.. Windows,wiring,electrics will last no longer in a new build than an old build.....
