Buying a new build ( or thinking about it)

[Claracracksthenut]

We are considering buying a new build so need serious advice.

Firstly the part exchange option really appeals. What is the thinking of this? Good idea or bad? Current market is flat and we are unlikely to sell quickly.

Also it appears you have to exchange prior to the build is complete.
So funds that you require for the 10% exchange have to come from any savings as mortgage company wooden allow any funds prior to completion.
This is a very scary concept and feels very vulnerable?????

Any advice on how to get price down?
Any advice at all x

When we bought we got 5% deposit paid (we later got it taken off price of house as it saved us stamp duty) and I think legal fees.

If I were you I would be tempted to give them a figure you were prepared to pay for more expensive house.
Tell them you would want to part ex and would be prepared to move quickly.
And let them come to you. You never know - if they are struggling to sell they may just especially with all the uncertainty at the moment.
In the meantime get your house on the market.
You may find a brill house which is preloved but does not need any work done on it.