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Original poster

Selling new build house

30 replies

Nearlythere35 · 19/05/2018 17:01

My house has been on the market since January with no sale. A few viewings, on average one per month. It's a new build and we've only been in a year before separating so I need to sell. The problem is there are lots of other brand new new builds nearby. It's on for 475k which is also the price we paid for it. Its not had a lot done to it. It has a big plot but the garden is just turfed. I'm concerned that it's so dull no one is interested although the estate agents say this is goo ld because its a blank canvas. I really want to get it sold. I would be happy to spend a bit of money to get it sold but dnt know if making it more like a show home would help and I don't want to waste money. I'm really stuck. Any help gratefully appreciated.

OP posts:

pigpoglet · 19/05/2018 17:03

Usually it's just the price that is the problem , can you drop it a bit or tell the estate agents you would consider decent offers? If it's been on since jan it's probably too expensive .

PrettyLovely · 19/05/2018 17:06

I agree with pp its probably the price.

DerelictWreck · 19/05/2018 17:11

If you spent £475 on it I wouldn't expect it to sell for that. You spend a premium to get a brand new home - as soon as you buy it it depreciates in value

BubblesBuddy · 19/05/2018 17:45

Well they don’t in a bouyant rising market. However, a year is a short time. You need to evaluate it by comparing it to other second-hand properties. However, if your price isn’t competitive, then you will hsve to reduce. What looks better value than yours? Reduce to that price.

Do you have a patio? It’s a bit odd if you don’t. It wouldn’t be too expensive to jazz up a patio with planters and shrubs. Get some outside furniture and make it look like another room. You can take all of this with you.

RexManning · 19/05/2018 20:08

It won’t be that it’s too blank. The kind of people who want a new build will buy something brand new if it is available, rather than one which is twelve months old and has been finished to someone else’s taste.

I’m afraid I agree with pp. You need to revise your expectations and lower your price. Brand new houses depreciate in the first year or two.

Tequilamockinbird · 19/05/2018 20:14

If you bought it for £475k and there are other brand new ones nearby for the same price, then I'd rather buy a brand new one I'm afraid. Rather than a 'second hand' one that someone else has lived in. I think you need to reduce the price.

Sinkingswimmer · 19/05/2018 20:17

Another problem could be that the house builders in your area may be offering part exchange to encourage buyers to purchase brand new houses. That's how we bought ours as it was so much easier than selling our previous house ourselves. You may need to drop the price to get some interest. Or wait possibly years for the market to catch up

pigpoglet · 19/05/2018 20:19

Plus I didn't pay stamp duty on my new build , having said that buying a new build is actually quite difficult . I'd opt for second hand if I had the choice but it would need to be much less as per the reasons above .. there is nothing like a brand new house !!

specialsubject · 19/05/2018 20:21

new builds, like new cars, depreciate instantly. sorry. drop the price.

Racecardriver · 19/05/2018 20:21

The problem is the price. Houses in that price bracket qualify for help to buy so buyers will always choose a Newbold unless the second hand home is significantly cheaper than the new build equivalents. Trying to make it look nicer is just a waste of money. They will likely cure or your home and see it as an advertismebt for your builder, especially if they are still offering the same house type.

OrcinusOrca · 19/05/2018 20:25

I always think there must be something wrong with a new build if it's being sold in a year or two after it was built. There is a close of new ones down the road from me and there is one on there that's been for sale for months. They have sewerage issues and I walked the dog down there the their day and it does pong. You hear stories about bad quality new builds and so that would encourage me to a new new one too. What does the ad say? Does it mention a change in circumstances?

We sold our first house after being in it 17 months. It was to relocate for a job and the EA put that on the ad.

BackforGood · 19/05/2018 20:32

I'd agree about the price.
I don't want a new build myself, but the one advantage is that you are dealing with a business who want to sell to you, not a family / person who then has to move out. Buying a new build the company will often buy your house off you and break the chain, you can be flexible on moving days, you can often negotiate a deal (eg pay the stamp duty as above), or, if getting in early can get the particular tiles or flooring or kitchen units you want in the price. As soon as it's not new, then the price drops as you lose those advantages.

SavoyCabbage · 19/05/2018 20:38

A house in our new build street was sold after only nine months for 10% less than the original price.

I agree with BackforGood says.

Atthebottomofthesea · 19/05/2018 22:30

My current house was 18 months old when we bought it (for the same price they paid, at the start of the boom) I personally think it has its advantages - most of the snagging had been dealt with, it was carpeted and decorated, garden sorted etc. Plus they had paid for the 'extras'.

But you are up against the new builds, are the new houses the same builder? Are they building a further phase on the same site that you are therefore in direct competition with?

How do you compare price wise to other houses in the area?

haba · 19/05/2018 22:35

People are probably concerned about why you're selling it already.
Why are you desperate to sell?

Doyoumind · 19/05/2018 22:42

You can't expect to get back what you paid so soon. You're up against new new builds where buyers will have an opportunity to choose some of the interiors etc and will get everything brand new rather than second hand.

You'll have to lower the asking price.

SporkInTheToaster · 19/05/2018 22:59

haba, the OP made it clear that their relationship has broken down. Probably a combination of financial necessity and the desire to move on ASAP.

welshweasel · 19/05/2018 23:06

You generally pay around 10% premium on a new build, hence why it’s pretty easy to get stamp duty included or upgraded carpets etc.

If you want to sell you need to cut the price. How much are similar brand new houses selling for? You need to go at least 10% lower than that.

haba · 19/05/2018 23:10

Oh, Nearlythere, I'm very sorry, I completely missed that.
I hope you sell soon.

BewareOfDragons · 19/05/2018 23:31

We bought a new build 'new' house over 10 years ago. FUnnily enough, we'd looked at a house just like it that someone was selling on the new estate. Problem is, they wanted considerably more than the identical 'new' homes were going for, and many had bigger gardens, more garage space, better position on the estate, etc. We pointed this out to the EA quietly. They dropped the price by £10k the next day, but that was still more than 'new' homes were going for. We ended up buying an identical house but a 'new' one later that year for over £30k less than they were asking with a much bigger garden and better parking/garages.

Reality is, you may have to take a loss if you absolutely have to sell right now. Or consider renting it out?

NurseryFightClub · 20/05/2018 07:08

We looked and offered on a second hand new build and were outbid, there was other house of same style, but smaller gardens. We were too late with offer (offered Monday am after viewing Sat) and we were too late.
I suppose it depends on the development and area?

Imchlibob · 20/05/2018 07:14

A second-hand 1 year old new build is not worth as much as the same design of house in the same development that has never been lived in. You are over-pricing. You need to drop the asking price by about £25k.

pigpoglet · 20/05/2018 07:48

I know you are separating but the trick with new builds is to buy off plan and live with the building around you and sell when it's all nice and pretty . We have lived in ours 4 years and it's gone up in value £100k .

randomthoughts · 20/05/2018 08:50

We bought our second hand newbuild for £20k (10%) less than brand new identical homes on less desirable plots. Part exchange and help to buy gives the builders a huge advantage.

Original poster

Nearlythere35 · 20/05/2018 12:11

Hi, thanks for all your suggestions. It's very difficult as we haven't got much wriggle room with debts to pay off etc and two houses to try and buy. The one advantage we have to most of the local new builds is a 70ft garden. I think we need to emphasise this more and the pp who said about change of circumstances in the ad, that's a good idea as is dressing up the patio. We've had four agents out who all say we're in the right price bracket but who knows. Maybe we should put it down by 10k and see if that helps.

OP posts:

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