Author Topic: Why Housebuilders Rush New Homes For Year-End Figures  (Read 1541 times)

0 Members and 1 Guest are viewing this topic.

New Home Expert

  • Global Moderator
  • Expert
  • *****
  • Posts: 816
  • Country: england
  • Expert advice for new home buyers
    • New Home Blog
Why Housebuilders Rush New Homes For Year-End Figures
« on: February 01, 2017, 09:42:58 am »
Whilst working in his house, a painter recently told a new homebuyer about a Taylor Wimpey site in Shrewsbury he was working on before Christmas.

Apparently they had lots of contractors trying to get the properties all CML'd (Final Inspection Certificate) before their year-end cut off.
The Construction Director was due to get a £100,000 bonus if he got 'X 'number of homes  CML'd in the year. 

The painter said he was told to paint where there was no lighting/poor light and when he questioned it telling them he was going to walk off the site, he was told the Construction Director "wasn't bothered what it looked like when it was finished, as they can put it right after" the final inspections.

When housebuilders talk about quality and claim they care, perhaps prospective new homebuyers should think about this and NEVER legally complete on any home due to be "finished" 8 weeks or less from their  their year end date.


New Home Blog - New Home Expert is committed to providing help and advice for people having issues with their new homes and difficulties with house builders as well as helping potential buyers reduce the risk of possible problems if they do buy.


firsttimebuyer

  • New Member
  • *
  • Posts: 18
Re: Why Housebuilders Rush New Homes For Year-End Figures
« Reply #1 on: February 01, 2017, 11:53:54 pm »
NHE,
Your post has got me panicking!
In August 2016, I reserved a plot on a new Barratt site (you may remember me posting and asking questions about incentives buying off plan etc. last year).

Originally I was told the house would be finished in March 2017, then l noticed it was down as May 2017 on the reservation forms.

I spoke to the saleswoman last week as they have only just started work on the site (building the show home) but she assured me my house would definitely be finished by the end of June 2017 as it is Barratt's year end!

At the time I did wonder what this had to do with things, but now it has dawned on me and got me worried!
Is there anything I can do to prevent this becoming a rush job? I've not exchanged contracts yet due to circumstances beyond my control. Is it wise to get an additional clause put into the contract?
How long should a new house take to build once the foundations are down?

Tim Fee Snagging Inspector

New Home Expert

  • Global Moderator
  • Expert
  • *****
  • Posts: 816
  • Country: england
  • Expert advice for new home buyers
    • New Home Blog
Re: Why Housebuilders Rush New Homes For Year-End Figures
« Reply #2 on: February 02, 2017, 06:26:59 am »
If you reserved in August 2016 and Barratt have only just finished the foundations, you have to ask why it has been left so late to start a clearly known sold house when they want it for their year-end figures.
Read this article which shows the lengths builders to go to force buyers into legally completing even on unfinished homes, just to get their figures!

Unless you bought on an "early bird" and were told at the outset, that the home would not be started for a few months, this needs looking at. In addition, most housebuilders require you to exchange contracts within 28 days. Quite why six months later you haven't done so is another mystery.

For a comfortable construction period that allows for intangibles such as the weather, holidays, material shortages and late deliveries, a normal two-storey new house should take between 18 and 22 weeks to build. It can be done quicker as a one-off provided no other houses are also being rushed (not the case at builder year-ends)

Provided you haven't used Barratt's recommended suggested solicitor, I would advise that you inform Barratt that you cannot legally complete until August 2017. 
However, if you do this,  at this stage work to your house could be stopped to prioritised those for year-end.

In any circumstances, do not legally complete until your snagging inspector has checked the house and all items in his report have been attended to.

If Barratt cant or wont agree to this walk away. After all this time you can get most of your Reservation Fee refunded as well as any related expenditure such as legal fees Using the Consumer Code for Home Builders
New Home Blog - New Home Expert is committed to providing help and advice for people having issues with their new homes and difficulties with house builders as well as helping potential buyers reduce the risk of possible problems if they do buy.