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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To make an offer on a fixed price new build

21 replies

Ruth0505 · 15/11/2022 06:32

We have been looking to move to a bigger property for a couple of years now, and now that DC2 is on the way, we really have to for extra space. We've looked at everything from bungalows to do'er upers, detached villas and everything in between. I've never been a fan of new build properties (due to being brought up in a traditional sandstone with high ceilings and always being of the (turns out not always accurate) option that new builds are cramped etc etc.

Anyway, we have seen a beautiful 4 bed detached house in the village I grew up in which seems to meet all of the needs we have. It's really spacious and well set out in the estate and I was totally taken aback. My DH is really keen to proceed and although I'm a bit more cautious (with any life decision!) I'm also thinking it might be the answer. The property is advertised at a fixed price of £295k. Although I have experience of the market and have sold houses before, I have never bought from a developer. Is it a 'thing' to make an offer of say £290k, or would that make me look like an absolute idiot? I know it's the norm with privately sold properties (even if they're on at 'fixed price') but I'm just not sure of the drill with developers!

Does anyone have any experience of this?

OP posts:
DrMarciaFieldstone · 15/11/2022 06:36

Definitely make an offer. Also they’re often open to other offers such as making a stamp contribution. Their asking prices are inflated to start with. Nothing to lose! Good luck

boboshmobo · 15/11/2022 06:41

Of course ! I haggled and haggled on my new build . Even though it was the best plot I got my considerable stamp duty paid so in essence paid £20k less than asking ! You need to exchange quickly though on new builds so get your case ready before you ask!

Original poster
Ruth0505 · 15/11/2022 06:47

I should also add we're in a really strong position - our buyers are sold and have moved in to rented to wait for us to find something (pressure!!) so we can move anytime and we are all good to go with mortgage agreed etc etc.

OP posts:
ChristmasCakeAndStilton · 15/11/2022 06:50

Is it (nearly) finished? Is the whole development nearly finished? The closer it is to being complete, the keaner they will be to sell.

Keepitrealnomists · 15/11/2022 06:53

Dec and June are developers year and half end and it's the best time to buy with them to get a deal because they want the sale to increase their figures. We got our stamp duty fully paid, all white good, carpets, back garden turfed..... Go for it!

Original poster
Ruth0505 · 15/11/2022 06:56

Yes it's ready on 8th December and there's only a few houses left to be competed on the estate! They are offering stamp duty but I am thinking of also offering the £290k Grin

OP posts:
Sunshinegirl82 · 15/11/2022 06:57

We've bought two new builds and got good incentives on both (stamp duty paid, turf, legal fees contribution etc) as well as a discount on the price.

It will depend on how popular the development is though, if people are fighting over plots they'll be less keen to incentivise.

If no movement on price, go for stamp duty, flooring, kitchen upgrades, appliances etc. sometimes they will move on that stuff more easily. Good luck!

Woodandsky · 15/11/2022 07:09

Always worth a try, a relative is buying a December completion new build at the moment. They wouldn’t budge on the price (shows on the records and they don’t like that in case it influences the value of other plots) but did manage to get kitchen appliances, flooring, garden turfed and paved. No stamp duty as a first time buyer.

boboshmobo · 15/11/2022 13:17

Frankly I'd offer less or ask for stamp duty to be paid .. nothing to lose as it's just a salesperson saying yes or no 🤷‍♀️🤷‍♀️

WalkingOnSonshine · 15/11/2022 13:21

We got 20k off asking, upgraded flooring and kitchen, and stamp duty paid.

We were able to move in within 3 months though.

ChicCroissant · 15/11/2022 13:23

I suspect they won't budge on the actual property price, but as other have said may be willing to cover stamp duty or include some extras so ask about those. So you may get a discount but in another way, if you see what I mean.

3peassuit · 15/11/2022 13:26

You’re in a good position so make an offer. You might not get it but they could throw in upgrades instead.

bellabasset · 15/11/2022 13:31

Tell them the date you'd be able to complete and ask what deal they're able to offer you. With the market liable to slow down as people are unable to sell you might get a better deal

Appleblum · 15/11/2022 13:34

Definitely. They always give discounts.

SarahSissions · 15/11/2022 13:41

They are more likely to take an offer if most have sold as they would want to move on from this development. Personally I would offer 280, if your going to make an offer what’s the point of only saving 5k? If they’re going to bend the rules and take an offer they’ll bend for 15k as well as 5

LoraOldSpot · 15/11/2022 13:56

Definitely make an offer also what you can do with new builds I’d say you’ll pay the full £295k but agree some “free upgrades” like get the fancier floor thrown is for no extra money etc. so in a way there’s lots more to negotiate than a non-new-build

Original poster
Ruth0505 · 15/11/2022 16:40

That's really helpful everyone, thanks! Definitely worth a shot! And if it's a no it's a no.

OP posts:
Floomobal · 15/11/2022 16:43

Ruth0505 · 15/11/2022 06:56

Yes it's ready on 8th December and there's only a few houses left to be competed on the estate! They are offering stamp duty but I am thinking of also offering the £290k Grin

I doubt they’ll accept £290k, they’re much more likely to throw in extras, and keep the actual purchase price the same. No reason you can’t have flooring,turf,tiling upgrades etc thrown in through negotiation though

Alexatancu · 23/02/2023 23:40

Sunshinegirl82 · 15/11/2022 06:57

We've bought two new builds and got good incentives on both (stamp duty paid, turf, legal fees contribution etc) as well as a discount on the price.

It will depend on how popular the development is though, if people are fighting over plots they'll be less keen to incentivise.

If no movement on price, go for stamp duty, flooring, kitchen upgrades, appliances etc. sometimes they will move on that stuff more easily. Good luck!

I realise this post is a few months old but did your lender accept all those incentives? From what I read they only accept incentives worth 5% off the property's value?

Original poster
Ruth0505 · 24/02/2023 14:03

We actually didn't offer in the end, but they have now dropped the price by £10k.....

OP posts:
Ledwood85 · 24/02/2023 15:04

I'd go in at 270.
Clearly they're motivated and it's not moving.

The worst that can happen is they say no.

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