Buying a New Build Home

Message deleted by Gransnet. Here's a link to our Talk guidelines.

Absolutely, new builds are negotiable the same as resales. In fact, if the market is slow and seller is not moving his inventory fast enough, most the time he will take a lower offer. I'd offer at least $5000 less than asking, especially if the market is slow, but you can make any offer you'd like. Seller can always counter your offer. Be sure to be Pre-Approved for a loan before submitting offers unless you have cash.

Find out when the end of the builder’s financial year falls. Frequently, but not always, 31 December. Look the company’s details up online. They are usually very keen to do deals to complete by their year end (or even half year) to achieve the target number of sales they have set themselves, a detail the City is interested in with the larger builders.

If they offer to pay legal costs don’t go with that ‘incentive’ as it will mean having to use a firm recommended by the builder and guess whose interests they will have at heart, to keep getting recommendations?

One word of caution - some of the big builders aren’t great on quality control so do your homework.

It all depends on the market, how fast houses on that estate are selling. As the stamp duty holiday is ending prices could well level off, all you can’t do is do your homework and pay what you can afford.

Ours was new build. We really had no idea about buying new builds (this was some years ago) and were considering paying the full price until the saleswoman, sensing we were backing out asked if a 20% discount would help. Of course we jumped at it then. Later we realised that a lot of the houses had been sold and they wanted to wrap up the sales side, and we could probably have pushed them further as we'd agreed a fast move. and maybe got some extras for the house as well.

Depends where you are in the country I think, any house built round us sells before it's completed. But it's certainly worth trying if it looks like they are taking a while to sell, or if there are only one or two left out of a number of builds.

I've just been on MSE, it seems very likely the interest rate is going to be raised. I do feel for the many people who have stretched themselves due to the increase in prices over the past few years. We bought late 80's and our mortgage just went up and up and up - I still remember the taste of our supper one end of month evening, curry powder in water. Think it was out of date too!

I think the OPs daughter might have made her decision.
The OP is March 2018

Argh zombie thread!

I’ve had 4 new builds. I was a cash buyer for my current house. I researched when the builders half year would be. Based on that being around my house hunting time I made an offer for my brand new house. I also asked for a dishwasher.
My offer was accepted because presumable the builder (nationwide major house builder) wanted his books to look good for the half year returns!
Worth every penny & I know from Rightmove comparing houses around bought at the same time, me I got a very good deal indeed!
It’s always worth a try