Bartering on a new house?
26 July 2012, 07:11 AM
#1
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Nov 2006
Location: Yorkshire
Posts: 2,966
Likes: 0
Received 0 Likes
on
0 Posts
Bartering on a new house?
We are looking to move house quite soon and fancy another new build as we've seen a development and house style we like and also like the idea of part-exchanging our current home (no new build bashing please). The house is a 4 bed detached up at £230k (I bet that makes you Southerners sick doen't it?!? 
) Anyway, has anyone on here got any stories or advice on negotiating? What's the best deal you've had?
) Anyway, has anyone on here got any stories or advice on negotiating? What's the best deal you've had?
26 July 2012, 07:32 AM
#5
depends how well the rest of the development sells too. The builder might accept a lower price if they arent selling very quick. It would help to tell how he was going if there were some already built and sold/selling. If they are getting snapped up quick , he wont be bothered with bartering !
26 July 2012, 07:42 AM
#6
They are not really interested i taking money off the build as they think they have already auto corrected the price but they dont mind throwing extras in. So if you catch get cash off the sale push for as much as you can get for free. The easiest way to get some cash taken off is go thru with the sale then nearer the time say you can only get a mortgage for £10k less than the price and see what happens 
26 July 2012, 07:52 AM
#7
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Nov 2006
Location: Yorkshire
Posts: 2,966
Likes: 0
Received 0 Likes
on
0 Posts
There are a few builders in the area, including one who have a house that we also like (but not as much and not on as good a plot) that's £33k less, I'm going to push that when we go in tomorrow.
Trending Topics
26 July 2012, 08:09 AM
#8
Scooby Regular
Join Date: May 2002
Location: Liverpool
Posts: 3,229
Likes: 0
Received 0 Likes
on
0 Posts
You might struggle to get the builder to reduce the price of the house, especially if the development has only just started.
Don't forget the builder has lots of other houses to sell on the development and the information is freely available as to what the other houses on the estate sell for, so they will be reluctant to reduce the purchase price.
We bought a new build at the back end of last year, moved in December, they wouldn't move on the house price but they gave us market rate on our old house, they paid the stamp duty on the new house and also a £1500 cash allowance for us to spend on anything.
Don't forget the builder has lots of other houses to sell on the development and the information is freely available as to what the other houses on the estate sell for, so they will be reluctant to reduce the purchase price.
We bought a new build at the back end of last year, moved in December, they wouldn't move on the house price but they gave us market rate on our old house, they paid the stamp duty on the new house and also a £1500 cash allowance for us to spend on anything.
26 July 2012, 08:11 AM
#9
Scooby Regular
Join Date: May 2002
Location: Liverpool
Posts: 3,229
Likes: 0
Received 0 Likes
on
0 Posts
When negotiating never accept carpets as part of the deal, they use the cheapest underlay and pretty poor carpets, if it comes to that then ask for cash towards carpets and flooring!!
Last edited by Hanley; 26 July 2012 at 08:49 AM.
26 July 2012, 08:50 AM
#13
Scooby Regular
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
Our new build came with good quality carpets. High pile and a nice amount of underlay.
We part ex-changed our flat for £120k which we thought was bloody good as we only expected to get around this figure if we sold privately. Turns out that Ward Homes sold it for £105k! And it had been on the market for 6 months after we moved out.
We also managed to get £10k off of the original £205k asking price as well as 75% contribution towards stamp duty payment. (maximum a House Builder can offer as an incentive).
It was hard work negotiating and I was playing Ward Homes off against Bovis to get the deal we got.
Plus it was a 'turn key' house. Everything came fitted, ready to go - appliances, carpets, vinyl flooring, tiles, turf - the lot.
If you factor in what your house is approximately worth, I reckon you should get at least 10% off of the asking price.
26 July 2012, 09:28 AM
#15
Scooby Regular
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
Bosch
Plus is came with a 5 year warrenty on everything.
Only item it didn't come with was a dishwasher, which I have since fitted myself. Only had to remove one kitchen carcass and get a double entry waste trap. Job done.
You will get problems with a new build though, bare that in mind.
The only thing that we are still not happy with is the quality of the windows. Very noisy and drafty. There was also missing insulation in our loft area which was only discovered after I kept complaining that it was difficult to get two of the three bedrooms above 18C during the winter. Only noticed it when we had a little one as his bedroom was always cold.
Anyway, Im made them inspect the drawings and compare with what was fitted and they confirmed the foul up.
I have just put a request in for a compensation payment towards our gas bills over the last 18months. They have agreed to pay a percentage, but I am waiting to see what that amount will be!
£1200 of gas over 18 months on a 'B' grade new build.
Not sure how that stacks up, but there was quite a bit of insulation missing.
Plus is came with a 5 year warrenty on everything.
Only item it didn't come with was a dishwasher, which I have since fitted myself. Only had to remove one kitchen carcass and get a double entry waste trap. Job done.
You will get problems with a new build though, bare that in mind.
The only thing that we are still not happy with is the quality of the windows. Very noisy and drafty. There was also missing insulation in our loft area which was only discovered after I kept complaining that it was difficult to get two of the three bedrooms above 18C during the winter. Only noticed it when we had a little one as his bedroom was always cold.
Anyway, Im made them inspect the drawings and compare with what was fitted and they confirmed the foul up.
I have just put a request in for a compensation payment towards our gas bills over the last 18months. They have agreed to pay a percentage, but I am waiting to see what that amount will be!
£1200 of gas over 18 months on a 'B' grade new build.
Not sure how that stacks up, but there was quite a bit of insulation missing.
Last edited by Gear Head; 26 July 2012 at 09:37 AM.
26 July 2012, 09:32 AM
#16
Scooby Regular
I don't know what the market is like where you are, but housebuilders in certain places up here just can't sell. As an example, there was a large country house converted into flats not far from me. When they came on the market, the one bedroom flats were up for 125k. They are now up for 70k. That's one hell of a discount.
It's much the same story with many of the houses that are built.
It's much the same story with many of the houses that are built.
26 July 2012, 09:41 AM
#19
Scooby Regular
Join Date: May 2002
Location: Liverpool
Posts: 3,229
Likes: 0
Received 0 Likes
on
0 Posts
26 July 2012, 10:12 AM
#20
Scooby Regular
Join Date: Oct 2004
Location: If you're not braking or accelerating you're wasting time.
Posts: 2,684
Likes: 0
Received 0 Likes
on
0 Posts
Always worth a try.
I brought a 2 bed,2 bath flat in 2001 in a very nice development 'off plan' for 10k less than the asking price.
Also got them to give me choice of carpets,floor tiles,bathroom tiles,wall colours,kitchen units,etc.This was in a good market & all the units sold very quickly.
I would of thought that in the current market they would want to shift them as fast as possible as there is no quarantee prices will hold.
I brought a 2 bed,2 bath flat in 2001 in a very nice development 'off plan' for 10k less than the asking price.
Also got them to give me choice of carpets,floor tiles,bathroom tiles,wall colours,kitchen units,etc.This was in a good market & all the units sold very quickly.
I would of thought that in the current market they would want to shift them as fast as possible as there is no quarantee prices will hold.
26 July 2012, 11:19 AM
#22
Scooby Regular
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
That is why prices aren't falling as fast as predicted.
Home owners have just tightened their belts and are riding out the storm.
Plus standard variable interest are on the floor now anyway.
Say they got a mortgage deal fix at 6% for 2 years (remember low equity, so % is about right)
Now it has dropped to stv rate of 3% above base, so 3.5%.
You will always pay a premium on a new build though, as with new cars.
So expected to pay 15-20% more than a similar 2-3 year old property.
26 July 2012, 11:45 AM
#23
Scooby Regular
We are looking to move house quite soon and fancy another new build as we've seen a development and house style we like and also like the idea of part-exchanging our current home (no new build bashing please). The house is a 4 bed detached up at £230k (I bet that makes you Southerners sick doen't it?!? ) Anyway, has anyone on here got any stories or advice on negotiating? What's the best deal you've had?
) Anyway, has anyone on here got any stories or advice on negotiating? What's the best deal you've had?
26 July 2012, 02:00 PM
#24
Scooby Regular
Join Date: Apr 2010
Location: surrey
Posts: 95
Likes: 0
Received 0 Likes
on
0 Posts
Just bought a new build and managed to get 22k knocked off! Though I had the money in the bank and could move quite quick on it which I think sealed the deal, spoke to some of my neighbours and the max I heard anyone else managed to get knocked off was 5k, so I think I done alright.
26 July 2012, 04:41 PM
#25
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Nov 2006
Location: Yorkshire
Posts: 2,966
Likes: 0
Received 0 Likes
on
0 Posts
Quite surprised that so many of you got cash off, I didn't think they would do that! I'll enquire tomorrow
My mate got carpets with his, they look a mess already after only about five months!
I'll keep you in the loop...
My mate got carpets with his, they look a mess already after only about five months!
I'll keep you in the loop...
26 July 2012, 05:29 PM
#26
Scooby Regular
Join Date: Mar 2001
Posts: 2,152
Likes: 0
Received 0 Likes
on
0 Posts
Not necessarily (not something we do anyway) carpets are a bad idea because come resale they have virtually no value
Last edited by mattstant; 26 July 2012 at 05:42 PM.
26 July 2012, 05:38 PM
#27
Scooby Regular
Join Date: Mar 2001
Posts: 2,152
Likes: 0
Received 0 Likes
on
0 Posts
They are not really interested i taking money off the build as they think they have already auto corrected the price but they dont mind throwing extras in. So if you catch get cash off the sale push for as much as you can get for free. The easiest way to get some cash taken off is go thru with the sale then nearer the time say you can only get a mortgage for £10k less than the price and see what happens
26 July 2012, 05:40 PM
#28
Scooby Regular
iTrader: (1)
Join Date: Dec 2006
Location: Central Scotland
Posts: 3,687
Likes: 0
Received 0 Likes
on
0 Posts
How far along is the build? That might swing it.
Often they'll give big discoutns for the early sales to get the money in. Price goes up as the build continues.
I bought a flat off plan and they were asking 5k more for the ones in the next block, identical flats. By the time they had finished they were at 15k more.
5t.
Often they'll give big discoutns for the early sales to get the money in. Price goes up as the build continues.
I bought a flat off plan and they were asking 5k more for the ones in the next block, identical flats. By the time they had finished they were at 15k more.
5t.
26 July 2012, 11:27 PM
#29
I bought a new build flat a few years ago for £210K when it was listed at £240K (£20K off immediately and £10K in the week before we were due to sign contracts) - but this was in September 2008 just after Lehman's went under.
Also back in 1993 I bought a new build 4 bed detached that was on the market for £125K (in the home counties as well) for £110K.
In both cases the developer was close to completing development on the site and the economy/market wasn't strong, so they were happy to deal. The best advice I can give is don't get sidetracked into a discussion about what you can afford, keep talking about what you think the house is worth (and back it up with some homework). They will try and tell you a new build is worth a premium, but if you decide to sell in a few years you don't want to be sitting on a big loss because the shine has come off, so it's valid for you to price compare with similar houses a few years old.
Also back in 1993 I bought a new build 4 bed detached that was on the market for £125K (in the home counties as well) for £110K.
In both cases the developer was close to completing development on the site and the economy/market wasn't strong, so they were happy to deal. The best advice I can give is don't get sidetracked into a discussion about what you can afford, keep talking about what you think the house is worth (and back it up with some homework). They will try and tell you a new build is worth a premium, but if you decide to sell in a few years you don't want to be sitting on a big loss because the shine has come off, so it's valid for you to price compare with similar houses a few years old.
