Due to 'Help to Buy', prices for new homes have increased at a faster rate than the general market up on average 7% over the last 12 months.
House builders don’t need to do deals, unless it is near their
end of year figures time and buyers should be wary of buying poor quality new homes that are rushed to be included in the figures.
You are unlikely to be able to negotiate a price discount or stamp duty paid deal (no stamp duty is payable on a £120,000 home).
However, most sales advisors do have "negotiables" so you may be able to get around £1,500 - £3,000 as a discount, or "free" options (like turf or carpets), or a mixture of both.
You should also be aware that any discounts or "deals" applied only to specific plots are becasue these plots are not selling for one reason or another. Anyone buying one of these may have trouble selling in the future.
Other buyers should note that if the price is just over the stamp duty threshold (more than £250,000) then walk away as for example, the stamp duty on a home costing £255,000 is £5,150 more than a home costing £250,000.
Finally, everyone buying a new home should first throughly research the house builder, their reputation, quality and after sales care.
Before handing over the balance of the money at legal comapletion, they should also have their new home professionally inspected and snagged.
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