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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to ask for a discount on a new house?

37 replies

Sweetpea302 · 14/12/2016 19:14

We're looking to buy a new build house in the first phase of building on a new development in our town. We've accepted an offer on our house and are in a good position with great buyers. The development that we're looking to buy on is so new that they don't even have a show home - we're taking a huge leap of faith that it will be as nice as its being sold as. People that we've spoken to (parents, friends etc) seem to think that you always pay asking price for a new build house and that they won't accept offers, but the woman in the development office has indicated that there might be a deal to be done.

So - AIBU to go in and negotiate hard, or am I wasting everyone's time and risking rubbing people up the wrong way? My logic is that it's a new development, with no show home and they must just want to get people in at this stage. We're in a strong position and prepared to work within their (ridiculously) short deadlines (as are our buyers). Has anyone done this? Has anyone got any advice on what to do and say?

Thanks!

OP posts:
CanandWill · 14/12/2016 19:15

I would absolutely do this. I know people who got big discounts buying off plans. Good luck.

PNGirl · 14/12/2016 19:17

I got 10 pc off the asking price (we were second to buy on the development) and they threw in flooring. Give it a go!

Bailey101 · 14/12/2016 19:19

Nothing ventured, nothing gained! If they absolutely won't budge on price, you could maybe get upgrades and extras instead.

MuppetsChristmasCarol · 14/12/2016 19:19

With our new build they wouldn't budge on price, but we negotiated a fancy kitchen, special lighting, more expensive white goods etc.

It's always worth a go though!

Man10 · 14/12/2016 19:26

A long time ago, I bought the second last flat in my corner of a new development, at asking price. I was 25 and buying with effectively a 100% mortgage. The 60 year-old company director who bought the last one three months later, as a pied-a-terre, offered 25% less, and was accepted.

The property market was turning, and over the following year or two prices did crash to about what he paid, so maybe both he and the vendor knew something I didn't.

Man10 · 14/12/2016 19:27

Ten years later I sold that flat (zone 2 London) for what I had paid for it.

Man10 · 14/12/2016 19:28

I got my figures wrong. The other guy got the flat for two thirds of what I paid.

Watto1 · 14/12/2016 19:29

They can only say no. What have you got to lose?

HardLightHologram · 14/12/2016 19:29

We couldn't get money off ours but we negotiated an upgraded kitchen floor, all the light fittings and got them to pay most of our fees.

cowbag1 · 14/12/2016 19:30

My dad bought a new build, one of the last to be sold on the development, and asked for a discount to bring it below a stamp duty threshold. They accpeted and the house was already fully fitted with carpets, fixtures and fittings, garden etc.

Nothing ventured nothing gained I say.

CremeBrulee · 14/12/2016 19:31

Absolutely negotiate for whatever you can get. Years ago we bought our first ever home off plan and got a 5% discount, upgraded kitchen & appliances, all carpets and the garden turfed too.

RockNRollNerd · 14/12/2016 19:31

They may not budge on price as they need a nice high figure in the land registry to show the next wave of buyers what the properties are worth. If the house is being advertised at eg £400,000 and they sell it to you for £370,000 then £370,000 becomes the 'value' of the houses. Agree with others to negotiate on extras as that's where they have some more discretion.

PossumInAPearTree · 14/12/2016 19:33

They're unlikely to budge on price as that price will be on property searches and then affect the price of the entire estate.

A friend of mine is in charge of a housing development, so works directly for the firm and he's buying a house and he can't get a discount for those reasons.

But do try and talk about stuff like carpets, oven upgrade, appliances you want, etc.

PossumInAPearTree · 14/12/2016 19:34

Yes it's different if you're buying the last one, developers may well just think "fuck it" and sell cheaper. But not at the beginning.

clairecymru · 14/12/2016 19:36

We got 20% off our new build with an upgrade on tiles and flooring. Our was one of the first built. Got the discount so that they could show that the houses were moving.

YellowDinosaur · 14/12/2016 19:38

We for a massive discount on ours so well worth asking.

Or do what neighbours of ours did who agreed the asking price when they bought off plan but had it written into their contract that this would be reduced to match the lowest price any identical houses in the were sold for. Which ultimately saved them about 30% off the asking price.

hawaiibaby · 14/12/2016 19:39

Yanbu, negotiate hard! We got 10k off plus free flooring and carpets then when our mortgage company valued it lower, we got another 10k off! Sounds like you're in a great position so definitely play hard ball. Good luck Xmas Wink

ninjapants · 14/12/2016 19:44

We didn't get a discount when buying off plan because they were selling well, but we did get lots of extras thrown in, plus our fees paid.
One neighbour got a discount on theres, but it was the last one to sell, had been built and was sitting empty.
Ask and if they say no, haggle for other stuff, upgrades etc

Love51 · 14/12/2016 19:47

I was looking at a new build, and the inference was that there was some wiggle room on price. You don't have much to lose.

sm40 · 14/12/2016 19:47

We got money off new build. In fact they were so quick to accept we should have asked for more! Go in low and work up! Also get any little requests in. By the time we got ours it was almost finished so no options. And if it's the last property they will be desperate to get rid of it.

MadisonAvenue · 14/12/2016 19:49

We did, because the building society had screwed up with our mortgage application and wouldn't give us what we needed. We offered less, otherwise we'd have had to walk away. The builders came back to us quickly and said that they'd give us a larger reduction ie we offered £5000 less and they knocked £15000 off Shock but we'd need to complete a week earlier, at the end of the month. It was so that they were assured of some money coming in so that the final phase of the development could begin.

Twenty minutes later we had a call from the building society saying that they had made a mistake and we could have the amount required.

After looking at land registry we found that our neighbours had paid £35000 more for their house, which is exactly the same as ours, just six months before.

Original poster
Sweetpea302 · 14/12/2016 19:55

Thanks everyone! I'm loving all of these stories and am VERY glad that I asked you all! Maybe I can return in a few days with tales of my massive discount!

Did anyone use any particular "strategies", or was it just a case of asking and ballsing it out?

OP posts:
Original poster
Sweetpea302 · 14/12/2016 19:57

Madison What luck! Shock

You must have done something VERY good in a former life! Wink

OP posts:
MollyHuaCha · 14/12/2016 20:02

When we bought our house (not new) we decided we wanted a price reduction. So we cheekily asked for double the price reduction we wanted. The estate agent and vendors were horrified. "No, no, you can't possibly we serious!" they replied. But then they met us half way. So we ended with exactly the discount we originally wanted. My advice: be bold, and ask for double the amount off you actually want Wink

sm40 · 14/12/2016 22:08

However they wanted us to exchange in 4 weeks and complete in 6 so had to be in a position to do this. We negotiated this to 5/7 weeks and our buyers were renting so all doable. Our solicitor charged us a quick exchange fee of about £200.