Putting in an offer for a new build

[moggiek]

I've never bought a new build before. Is there any point in putting in an offer below the stated price?

If they're selling like hot cakes probably not worth too cheeky an offer. But builders are keen to recoup outgoings to keep next project on schedule so will want to get new builds off their books asap. So why not start low and negotiate up?

If they don't budge on price get as high spec as you can eg carpets, painting, even turfing done by them will save you money.

Thanks for that. It's nearly thirty years since I bought a house, I just wondered if it was worth trying with a lower offer.

Friends of ours got a brilliant deal last year on a new build. It was the last month of the developers' financial year, and they got a lot of money off plus stamp duty and a better deal on a part exchange. You can also do well if the original buyer has fallen through.

Absolutely, last house we got a deal of 5% off asking price, they paid stamp duty, put down flooring of our choice throughout and put integrated appliances in.

However it was a development that was 3/4 sold so think they were keen to sell and get off site.

Also understand when the companies financial year end is. They are keen to get as much sold before year end as possible so there maybe a deal to be done.

Sorry forgot to add - also the strength of your bargaining power depends on your position. If you've got no chain and mortgage arranged and could complete in 8 weeks then you're very strong. If your house has only just been put on the market then you're not that appealing - unless they'll do part exchange which is a whole other option!

We didn't buy a new build but looked at a few before we bought this place - on every development, after a few minutes of looking interested the salesperson began dropping massive hints about "working with our budget" so, had we wanted to pursue one, we would have started with a low offer.