Why sell your newbuild

[Tupster]

Just intrigued really. Seeing almost newbuilds on the market that can only have been lived in for 18 months at the most, where the builders haven't left the site yet, and asking price seems to be way below what the "new" price was. I'm just nosy really - not interested in buying these - but why would someone sell off a newbuild at a massive loss after such a short time? Add on stamp duty, moving costs etc, how desperate would you have to be?

We bought a year old new build and the sellers said they didn't like the thin walls. They bought a much smaller house, so they were possibly struggling financially. We sold it two years later because I hated the area. The house was fine (the walls didn't seem too thin to me) but you couldn't easily walk anywhere- the nearest shop was a 30minute walk. Our neighbours moved due to divorce, and also being reallocated at work.

Realities of living together and the money it costs
Relationship breakdowns
Loss of job and need to relocate
Sharing the development with a mix of tenures,including affordable and social rent,which could cause issues with anti-social behaviour
Poor construction
Noise
or even, in the case of a very large development in Winchester, having the major road into the City diverted through the estate (very odd planning decision and one that really is strange), alongside issues with lack of parking and the school drop off /pick up chaos
There are so many variables for selling up quickly.

People pay a premium for a new build so why would they pay the same for a 3 year old house that was done to the owners taste (kitchens, flooring, bathrooms etc). So sellers need to make their 3 year old house more attractive to buyers.

Know a couple of people who this has happened to, simple reason, they moved in with their partners but split up

I felt stressed just reading that! How much did you lose in stamp duty?!

I know two people who have sold or are selling new ish builds shortly.

One was because they bought in a new town then decided they wanted to go back to their home town, so was nothing to do with the actual house.

The other is selling to buy a house with his partner. So there are many reasons.

Both got promoted, moved onto the same estate px for for 25k more than purchase after 15 months. They then sold it at a 10k loss

Surely that happens with houses that aren’t new builds? It’s clear this is a dig at new builds but I’m sure many people have sold up a not new build because they’ve had problems with it?

Doesn’t mean they’re troublesome neighbours?!

It was 25 years ago and during a housing boom. I made a £10k profit.

plus Scottish house prices are much lower if it was below the stamp duty threshold of the day.

I saw someone on Instagram who moved into a two year old house and installed a new kitchen and bathroom, and replaced all the flooring.

I am in a new build. Bought 18 months ago off plan and moved in 6 months ago. Estate is 8 months off finishing but they started building in 2020. My house type is being sold for £10k more than I bought it. I am hoping it will only go up.

I will be selling in 1.5 years as my partner and I want to buy together (he has a new build too, been in it 1 more year than me). Nothing more than we need an office each and a garage for his hobby

We have a new estate in town. It's massive and still being built. It's a nice town but there have been a few drugs raids in the new builds. I can't imagine some of the people who paid 600k for their lovely new home are delighted to be living there now.

Ones who properly qualify contractors, have good site managers/construction directors and properly assess/sign off each stage of the build.

We were in our new build 2 years before putting it on the market. Sold up to move to bigger ‘project’ house
Sold for 20% more than what we paid which we were happy with (summer 2023) - large-ish 4 bed detached Redrow build.
Loved our new build but moving to the countryside has made me realise that I couldn’t live on a housing estate again!

Our neighbours have just replaced a bathroom in a house less than two years old, so they can 'put their own stamp on it'! Which is bonkers if you ask me!

Not a dig at new builds at all - it's just the fact that it is a new build makes it obvious how short a time the owners have been in. Happy for all those who sold at a profit, but the house I saw on Rightmove looks like it's on for about £65k under what was paid for it at the end of 23. I just can't understand how anyone can withstand that kind of a loss!

Maybe on their previous house they made double that in profit and have the equity

I bought after the previous owners had only had it for a year after it being build. Was told he’d been offered a job the other side of the country and she was pregnant - all sounds pretty believable based on the amount of prenatal freebies that got delivered after they’d left.

Bonus for me was I got a basically brand new home (that is still in fab condition) for £40K less than what they paid for it and £60K less than what the other homes of the same spec were being sold for off plan.

New build estate near me is next to a very popular school, the houses are extremely overpriced for what they are and it's obvious people are moving in just for a school place and then moving back out to somewhere bigger, nicer and cheaper. I also think being overlooked is a big reason people will move on so quickly too.

A guy I knew bought a new build once, lived in it for less then a year, then sold up and moved into newer house on the same development. He'd made a few quid contracting so was comfortable enough, but not lottery winner amounts. He just really disliked the house he'd bought.

If they are selling at a loss it will be because they have calculated this to be their least worst option.
Perhaps they think that property prices are on course to drop and they're getting in early, selling before the value drops even more?

The only people who can afford to buy new property are those who are laundering the profits from drug sales?

no silly, it's the nasty chavs in the social housing, next to their lovely £600k homes

@Floralsofa Yes I meant which ones like bellway,or Wilson etc ,so whom to look at .