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Negotiating price on a new build

5 replies

shadyzadie123 · 15/02/2019 15:36

I'm looking to buy in the first phase of a new development. Nothing built yet, but plots to be released soon, followed by two further releases later in the year.
I'm good to go (no house to sell, plus a decent deposit post-divorce) and wondering how much wiggle room that gives me to negotiate down the price, especially given Brexit is looming etc.
Sorry if a dim question. ExDH used to deal with all of this!

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Bakingcreampie · 15/02/2019 15:40

We purchased a new build last year and there was absolutely no wiggle room!
We asked if we could get any extras/price reductions and they basically told us that if we didn't buy it someone else would and so they had no need to offer any incentives!
I think it will really depend on how popular the development is and how much interest they are getting rather than how good your position is.

ForTheLoveOfDoughnuts · 15/02/2019 15:57

It will depend massively how much interest they have. If they've got lots of prospective buyers lined up, they won't be interested in offering discounts.
Either way I doubt they will In the release. Maybe second or third, depending on how previous releases have gone

elfofftheshelf · 15/02/2019 15:59

We've bought 2 new builds over the years. The first time around (phase 2 of a 10-year development, lots of demand for properties) the developer refused to budge on the price (although they did pay the stamp duty). Second time around, (2 years ago), agents in the sales office, suggested we make an offer. We ended up with a 15% discount and an upgraded kitchen. It will come down to the demand for properties in the area and how much interest their development is generating.

Gumbo · 15/02/2019 16:07

I've bought 3 new builds over the years and have found that on many properties there seems to be an inbuilt amount that can be negotiated... and that the time of year makes a huge difference to how much you can get off the price.

Last time we bought was in a February and the builder was desperate for us to be in by the end of the financial year (end of March) - and if we agreed to complete by then they gave us a total of £40k off the price (including paying a huge chunk of the stamp duty). That only gave us 6 weeks, which resulted in me doing loads of stuff that the solicitor would do (chasing up searches, hounding surveyors etc) - but it was worth it as we completed within the agreed timescale and got a great house at a reduced price.

It's always worth putting in an offer and seeing how they react...

shadyzadie123 · 15/02/2019 16:17

Oh thanks for all of the replies. All very helpful!

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