New build (from plans) - room for negotiation?

Vikings

Hi guys,

Went to take at a look at the showhouses for a new development earlier, really liked the look of them!

Prices were actually fairly decent/realistic for what was on show, but what I am wondering is if those prices are set in stone?

It is going up in phases and there is only a small number (~dozen) in the first phase, with a few already "reserved".

There is a booking deposit, a further deposit on signing contracts and then balance on completion - is that final balance negotiable from your experience?

Just out of interest, probably something we should have asked the EA but thought i'd throw it out anyway get some honest opinions!

Cheers

Victor

Yes, the price is negotiable. However, that doesn't mean any particular value is good value.

Find out what your lender will give you, but don't necessarily spend it all. Make an offer and put a time limit on it.

Are you certain you want to buy a house in a part completed estate? I would suggest that you not buy into a future, un-built phase.

Vikings

I can see what you are saying, particularly about the estate being un-built, and I am new to this so trying to do a little research into it.

The development is Hazelwood in Celbridge, first phase is 14 units which I believe have now all been reserved (already....according to EA). With units in the second phase being reserved on top of that.

All 3 phases are due completion this time next year - 1 phase in Jun/Jul, 1 phase in Sep/Oct and the final in Mar '11. Full development from plans shows 52 houses + 30 apartments, not an overly large estate.

Developer seems fairly concrete with a number of local, successful developments from what I can see. I'd be inclined to think they will stick to that timeline which would see a completed estate within 12 months.

We can get the mortgage/afford the asking price for what we want, but like you said that doesn't mean we particularly want to spend that. Think i'll spend a little more time researching it before committing.

Any negatives to buying from plans? Apart from developer going bust!

Ste.phen

Vikings wrote: »

Any negatives to buying from plans? Apart from developer going bust!

That's a pretty big negative. Also you may not be able to draw down the mortgage when the time comes to pay up (which is in what, a year?), unbuilt means you don't ACTUALLY know what you're getting but have signed a contract saying you'll pay for it :- I know there's a snag list procedure, etc, but that's still hassle required to actually get what you're paying for, and not to put too fine a point on it, if the builder goes under before the estate is completely finished, you're screwed.

Pud27

Hi,

I know this is a really old post, but I am looking at buying these house's, and I just searched the name of the estate and got this thread, hope you dont mind!

Did you buy here in the end?

Did you have any joy with the price? I have been told that there is not much room to budge on the asking price, but I am not sure how much I believe this.
I am really genunily interested in these house's but I would like to know where I stand.
The 4 bed's end of terrace are €295K - but I am falling short on this - not much, but I am a bit out.