New build gone UP in price!
Discussion
I'm sure some will remember the fact that i've got my eye on a new build property (not wishing to get into debates about how crap new builds are!). The property first came to light in October when they said they would market it at £275 with stamp paid, they now say the house will be on the market near Christmas but will not be complete until January, the price has gone UP to £279,950! Now seeing as they are small time builders and a LARGER property(built by them!) in the SAME area sold a YEAR AGO for LESS than this are they taking the piss or what?! In my eyes they know full well they are going to get knocked down and are hoping that by inflating the price this will cushion it somewhat. I'll talk to wifey when she gets home but i'm all up for offering what i think it's worth based on the above facts & walking away. I know she loves it but the fact is house prices are going one way & one way only for the next 12-18 months. ps, they paid £63k for the land which is bugger all IMO, wish i'd known back then-would have done a self build!!
ETA-the house that sold for less last year was built by them! I've got plans for both-current one is much smaller.
ETA-the house that sold for less last year was built by them! I've got plans for both-current one is much smaller.
Edited by Dave_ST220 on Tuesday 2nd December 12:50
I sold a 1 bed house in August 2007, right at the peak, and moved 'up' into a 4 bed detached. In hindsight we should have put the equity in the bank and rented for a few years, but we did not. That said we are over the moon with our house.
My advice to you would be to bank the equity, rent, and consider buying just after the trough ends, whenever that is.
My advice to you would be to bank the equity, rent, and consider buying just after the trough ends, whenever that is.
Dave_ST220 said:
I'd have a massive fee from ending the mortgage early & then 12 months rent on top. The sums don't add up for me.
Ah, you're tied in. So are you staying with the same provider, just moving it/increasing it to be on a different property? Are there no fees for changing house and increasing the size of the mortgage? What if you theoretically want to downsize - how does that work?eccles said:
hornetrider said:
Surely the fees for a rental could be no more than a few hundred quid? Your deposit will be returnable at the end of the lease.
I seem to recall the only fees I paid (18 months ago) were something like £60 as an admin fee for them to check references etc.paid £200 as a combined 2 person credit check and 'holding fee'.
seems reasonable to me.
hornetrider said:
Dave_ST220 said:
I'd have a massive fee from ending the mortgage early & then 12 months rent on top. The sums don't add up for me.
Ah, you're tied in. So are you staying with the same provider, just moving it/increasing it to be on a different property? Are there no fees for changing house and increasing the size of the mortgage? What if you theoretically want to downsize - how does that work?Dave_ST220 said:
In my eyes they know full well they are going to get knocked down and are hoping that by inflating the price this will cushion it somewhat.
I think you are spot on. Bump the price artificially high so the low-ball offers they get won't be as low.....It's not going to put any buyers off as it's only £5k difference and they will all be thinking they can knock 20%+ off it.
Agent is insisting they aren't interested in ANY offers, only time will tell who's right eh?!Dave_ST220 said:
Simpo Two said:
The fewer houses they sell, the more expensive each one needs to be in order for them to stay in business.
Exactly-if someone pays that though they are a mug who has been drawn in by a fancy kitchen & bathroom!!A home isn't just an investment.
elster said:
Dave_ST220 said:
Simpo Two said:
The fewer houses they sell, the more expensive each one needs to be in order for them to stay in business.
Exactly-if someone pays that though they are a mug who has been drawn in by a fancy kitchen & bathroom!!A home isn't just an investment.
briSk said:
as said they're trying to price in enough room for big discounts.
at the end of the day it was and is and always will be a c£225ish house.
in my town developers have just started marketing some, albeit nice, 3 bed 'apartments' for £425k. good luck! they're £325k at most.
My thoughts exactly! Deep down they know it, i'm hoping that come Feb if they haven't got anywhere they'll see sense..........at the end of the day it was and is and always will be a c£225ish house.
in my town developers have just started marketing some, albeit nice, 3 bed 'apartments' for £425k. good luck! they're £325k at most.
Dave_ST220 said:
elster said:
Dave_ST220 said:
Simpo Two said:
The fewer houses they sell, the more expensive each one needs to be in order for them to stay in business.
Exactly-if someone pays that though they are a mug who has been drawn in by a fancy kitchen & bathroom!!A home isn't just an investment.
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