Author Topic: Getting a deal on a new build home.  (Read 11465 times)

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Chrissy

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Getting a deal on a new build home.
« on: October 26, 2013, 09:31:37 am »
I am looking for some advice.
I'm currently in the process of selling my home and hoping to move into a Miller new build sometime next summer.
My deposit is approximately a third of the price of the home That I am interested in.
Will I be in any position to haggle on the price of the home or ask for stamp duty paid or even freehold instead of leasehold.
Is it correct that I'd only have 48 hours to accept the price?
Any feedback would be appreciated


Philofacts

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Re: Getting a deal on a new build home.
« Reply #1 on: October 26, 2013, 11:57:20 am »
First of all the good news.
Miller Homes are one of the better house builders in my opinion.
If buyers are still insistent on buying a new home, then Miller is a good choice.

As far as I am aware there is no general rule on time limits for accepting a price for a new home.
This is something that individual house builders may impose based on their current demand.
You would be well advised to avoid Leasehold at all costs. See Leasehold for more information.
I do not think you would be able to negotiate the freehold unless it is for a house.

Due to "Help to Buy" which you don't need with a 30% deposit, 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.
However, most sales advisors do have "negotiables" so you could get around £3,000 - £5,000 as a discount, "free" options (like turf or carpets), or a mixture of both.

If the price is just over the stamp duty threshold (more than £250,000) then walk away. As an example, the stamp duty on a home costing £255,000 is £5,150 more than a home costing £250,000.
For more information, please visit the Brand New Homes website.

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