How much should I aim to get off a house still on plans?

[Shoestringracer]

I mean, what percentage should I aim to get off the price?

And is it true that new houses will often depreciate in the first few years, even in a gently climbing market.

Thanks

[mcflurry]

Shoestringracer said:

And is it true that new houses will often depreciate in the first few years, even in a gently climbing market.

Probably. Would you buy a new build or a 2nd hand house for the same price if they were next door?

[blueg33]

You won't get much off the price buying off plan. The best way to get money off a new house is to buy unsold stock at the end of the developers financial year.

We never gave discounts when selling off plan in fact if a price hadn't been released we would over price the plot to an off plan enquiry (but that was in a better market)

Its also hard to get extras thrown into an off plan plot.

It is normally the better plots on a site that get the off plan offers so the developer will take the risk and sell it later rather than offer a discount

[Cogcog]

Word to the wise, I met a guy last week who paid his 10% deposit ( upwards of £60K) off plan and the builder promptly went bust. He was lcuky they were then bought but but he lost all bargaining power and the new builder really screwed him over as they were trying to make up ground too.

[Sam_68]

Cogcog said:

I met a guy last week...

This would have been the proverbial guy you met down the pub, of well known urban mythology, would it?

If you meet him again, tell him to type 'NHBC deposit protection' into the Google search engine on his computer, then hit the 'return' key, before he thinks about buying another new home.

[bigbubba]

Sam_68 said:

If you meet him again, tell him to type 'NHBC deposit protection' into the Google search engine on his computer, then hit the 'return' key, before he thinks about buying another new home.

If the builder is not NHBC registered it means 'jack' though....

[Sam_68]

bigbubba said:

If the builder is not NHBC registered it means 'jack' though....

If he can buy a house without NHBC or similar warranty cover, it means he doesn't need a mortgage (as the Mortgage companies won't even consider giving a mortgage without).

This would mean he is both very rich and very stupid (...and has a thoroughly incompetent lawyer, incidentally), in which case relieving him of a substantial sum of money is pretty much obligatory; in fact it almost constitutes a public duty.

[blueg33]

Sam_68 said:

If he can buy a house without NHBC or similar warranty cover, it means he doesn't need a mortgage (as the Mortgage companies won't even consider giving a mortgage without).

This would mean he is both very rich and very stupid, in which case relieving him of a substantial sum of money is pretty much obligatory; in fact it almost constitutes a public duty.

I like developer think The aim is to relieve as many people of their money as possible









Tongue in cheek comments before people lay into us socially and morally responsible developers