5 steps to bagging a bargain new build

5 steps to bagging a bargain new build

5 steps to bagging a bargain new build Express Conveyancing

New build homes might not be for everyone, but those who do buy them love them and often overpay for the privilege of being the first ever owner. Despite the recession and the problems in the housing market, house builders can still get away with charging a premium for brand new homes. It is the same principle in the new car market. The car loses a big chunk of its value the moment it is owned and driven away. Many new build home buyers will not get back what they paid for them if they buy and sell in the same depressed housing market, so it makes sense to minimise that potential loss from the outset by negotiating hard on purchase price.

This article looks at 5 ways you can reduce the cost of buying a new build home.

1. Don’t buy off-plan

There are big risks to buying off-plan. While you may get a bargain in a hot-bed development, the chances are that by moving in too fast, you’ll pay the price the developer hopes to get, instead of the lower price they will accept when desperate to shift the houses they have already built. Developers sink a lot of funds in to building homes and often need cash to finish developments, so if you get there part way through a hard-to-shift development, the builder might be motivated to sell for less. The same holds true at the end of a development if there are houses they just can’t sell.

2. Ask for a discount

Don’t be afraid to negotiate. As above, there are bargains to be had, but a developer is never going to offer you a chunk off the price if he thinks you are good for the full asking. Negotiate hard and leave their office potentially thousands of pounds better off. And if the price isn’t right, don’t be afraid to walk away and await their call. There is a rock bottom price, and you will usually only get this at the end of the developer’s financial year. If you can hold your cards close to your chest and wait it out, you could be in line for a big discount.

3. Fish for freebies

If you are keen on the house and you plan to proceed, you can still play hard ball on the extras.  If you can provide an incentive, such as signing the agreement there and then, they may be motivated to offer some great incentives. Free extras like carpets, good tiles, better kitchen units and even grass for your lawn are all fair game.

4. Buy off-plan

I know we just said don’t buy off plan, but not buying off plan and buying off plan are both valid ways to get good discounts. It all depends on the market and the popularity of the development you want to buy on. The big off-plan Buy to Let scandals of the last decade are enough to put anyone off gambling on an imaginary big discount, but in the right circumstances, and on hot developments, you can get discounts of up to 20% off.

5. Be a snag hag

Developers usually just fix those snags you find before you move in, but the fact is that most problems only come to light once you have lived there a little while. These defects can run into thousands of pounds so it could be worth having an independent snagging surveyor come in. The report they produce will cost around £200, but they are experts at picking up on defects and know all the tricks. You can use the report to negotiate an agreement to fix prior to exchange of contracts.

What our clients say

Great value for money. Everything went smoothly and I was very pleased with the service provided
Rachel Whitfield
Rachel Whitfield
20:59 12 Oct 18
Excellent! Very responsive, and really helped to push the purchase. There were unexpected delays during the process, but Anthony really helped to reassure me that he was doing everything he could to progress the sale. Ultimately, it all worked out in the end, and I would highly recommend! I would also recommend for auction purposes.
Sean Stevens
Sean Stevens
09:14 21 May 18
Very happy customer. Understanding of our needs and recommended a really fantastic solicitor.
Jack Hearne
Jack Hearne
17:49 12 Oct 18
I have just completed the purchase of my flat with them. They were recommend by the estates agents Phillip Arnold and they were fantastic. My case was handled by Milena who was really helpful and always available on the phone. The online system is also really easy to use. If I buy or sell a property I will definitely be using them again.
Sharon Kelly
Sharon Kelly
18:27 20 Dec 17
I used this service following a recommendation. The online case tracker worked really well. I would recommend this service as it's vital in the coordination between Estate Agencies and between Solicitors. The service proved invaluable in helping progress the conveyancing work efficiently and effectively. Completed the transaction just before Christmas having instructed the Solicitors on the 4th.
Shelly Harrill
Shelly Harrill
16:30 19 Dec 17
Excellent Service. Final Price same as quoted.
A Google User
A Google User
14:26 19 Dec 18
Have used them twice. Both times completion happened in less than 4 weeks, even over Xmas! Totally amazing. They take the stress out of the whole process.
Daniel West
Daniel West
13:04 21 Dec 18
Excellent Service. Final Price same as quoted
Parsa Khamooshi
Parsa Khamooshi
15:54 21 Dec 18
Being a first time buyer they guided me smoothly through the whole process of moving into my first home. Very professional and economical.
Uday Seth
Uday Seth
12:31 24 Dec 18
Express Conveyancing have been excellent in the handling of my recent house sale and purchase. Would highly recommend
James Ellis
James Ellis
11:43 30 Apr 19
Express Conveyancing have been excellent in the handling of my recent house sale and purchase. Would highly recommend
Michelle Preston
Michelle Preston
12:20 30 Apr 19
ThanksThanks for handling my sale and purchase. No complaints from me. Rebecca was regularly on hand to help with my queries and deal with issues.
Claire Miles
Claire Miles
17:48 07 May 19
I bought my first home in South London with Express Conveyancing . Great professional service, I was regularly updated and looked after. Top marks, 100% recommendation from me!
Dale Griffiths
Dale Griffiths
15:58 02 May 19
Good service and happy with the conveyancer
Chris Jenkins
Chris Jenkins
22:01 17 May 19
Great service from start to finish. Was great being able to see progress online! Very quick and efficient! All staff were helpful. Highly recommend
Reece Moseley
Reece Moseley
06:20 30 May 19
I would highly recommend them. They deal with any queries promptly and efficiently. Would definitely use them again.
Sahar Dalini
Sahar Dalini
09:13 10 Jun 19
Fair prices good efficient service
Sue Batchelor
Sue Batchelor
18:46 01 Jun 19
I would highly recommend them. They deal with any queries promptly and efficiently. Would definitely use them again.
Sahar Dalini
Sahar Dalini
09:14 10 Jun 19

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