Buying a new build - what to offer?

[Fluffybubble]

Hi

I have been looking at a new build that is for sale for £250,000 (it was recently reduced from £275,000). The sales team have indicated that the builder may accept around the £225-£230k mark for it.

I am feeling jittery about the market at the moment, and am now in a relatively easy chain (my buyer has a buyer who is currently in rented), so I am wondering what to offer. Does £225k sound about right or should I still be negotiating?! (It is a 2 bed in the SE btw!).

Thanks

[lalalonglegs]

I'd be tempted to offer less than that and build up to #225k. With new-builds you tend to be paying quite a hefty premium as it's all sparkly and (meant to be) in excellent condition. See what similar sized non-new build properties are selling for and make an offer on that basis.

[Mollymax]

If the sales team has indicated 225k, i would be cheeky and start lower, they can always turn you down.
If you are not rude about it, and keep it light hearted, you may get a good deal.
Sounds alot of money for a 2 bed, but i live in suffolk where houses are cheaper. :)

[Fluffybubble]

Thanks both

They turned it down today and now (apparently!) there is also a second interested party. The sales lady is piling on the pressure, so am sticking to my guns and waiting to see what I can afford via my IFA.


Molly - it is a lot, unfortunately it is about average around here

lala - it is very sparkly, it is hard not to be drawn in by it (my house is not sparkly at all!). Current non-new builds are similar price, so can't grumble too much, I had to at least try a lower offer... Whatever will be...

[WithManyTots]

Stick to your guns.... The first person to speak will be the one who gives way.... A second party!!! A Likely story!!!

[Mollymax]

Def stick to your offer, and keep looking elsewhere.
If other houses are about the same money the new build is a good deal, everything will be new and you will get some guarantees.
Do not cave in to their pressure tho'
Are there any other new builds near you?

[Fluffybubble]

I caved! I spoke to my IFA and he said that I can do the £225k, so I have reserved it, yay!

Thank you all for your (very sensible!) advice. My mum said the same about the 'other buyer', as the sales lady kept saying that I have first refusal - mum thought that they would just take the money, whoever was offering it!

Am very relieved, just now have to hope that we can all exchange within 28 days...agghhh!

[lalalonglegs]

You love it, you got almost 20% off original price and it compares well with second-hand values so don't beat yourself up and enjoy your new home.

[Fluffybubble]

Thanks lala

[Mollymax]

Ooo. Well done. You have bought a sparkly new home. Nobody elses dirt to worry about.
Easy to keep clean :o

[Fluffybubble]

I know ! It is nice to know it is all sparkly and new and it does make a difference - I can start to look for curtains (so sad!). Thanks for your advice too Molly

[Mollymax]

You are welcome.
Shall i you by saying you could buy our 4 bed detached for that price!
That is why i love living in Suffolk :o
Enjoy curtain shopping.