Buying in new development

Hi,

Long time reader (well not that long, only for about 6 months!), but first post!

Just wondering what peoples experiences are when buying a house in a new development at the moment?

Theres a newish enough development in my town. I have heard good things about the houses. I have been in the estate a couple of times, but haven’t had a right nosey around yet!

Anyway, if it ticks all the right boxes for me, what do people think the best way to proceed?

I have read in another thread on here that an EA wouldn’t even pass on the persons bid for the new house as it was well below the asking price.

Should I just go straight to the developer?

Just wondering are those selling in the new developments expecting the asking price or are they willing to come down in price? Like theres not much difference in price between the 3 beds and the 4 beds I am looking at. But the 3 bed is just over the max price I can go. But I was thinking of putting in the lower bid for the 4 bed and chancing my arm! (though it would mean they’d know I could afford near enough to the full price for the 3 bed then!)

Just wondering what peoples recent experiences have been?

Thanks

What % of the estate do you know is presently occupied?

+1.

Not having any direct experience of these things, but I’d be very reluctant to buy in any housing estate where at least half the houses weren’t sold and lived in already.

I have to be honest, it is only in the last couple of days I have been thinking about buying there (had been looking at another part of town but the quality of houses on sale there within my budget were poor. And there have only been a couple of nice ones on the market the last while there, but they’ve been outside my budget. Very few 2nd hand decent ones are going up for sale at a decent price where my first choice location would be.

I have now started to consider buying in the part of town where the new development is. The quality of houses seem better in this development and have a very good BER Cert. I know someone living in an apartment in the complex and when I was last there (about a year ago), there were plenty of cars outside the complexes and houses. Hes been abroad the last year though so wouldn’t know himself what its like now!

However I am not sure how many they have been built since and how many they have sold. At the front of the estate it looked like more or less full occupancy as the estate has been built gradually over the last coupe of yeats. The newer ones are obviously further back in the estate.

I plan to have a right look around the estate regularly over the next number of weekends to get a proper feel of the estate – as while I’m very familiar with the area, I haven’t inspected the estate properly yet.

Was just wondering if it ticked all the boxes (which it may not obviously), what the best play is when making an offer for a house in a new development – especially when theres little in price between 2 types of houses

Probably start by bidding what you can afford on the 4 bed and see how it goes. You can always retrench to the 3 bed if needs be.

It is not a good time to buy, there are too many panics and manias about money issues. Give yourself at least another year of enjoyment with your large quantity of money, not a good time to come into stress and cant leave comittments.