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New Build - discount?

  • 20-05-2020 3:14pm
    #1
    Conrad83
    Registered Users, Registered Users 2 Posts: 155 ✭✭


    Just wondering if anyone has managed to get a discount on a new build at the moment? If so was it through EA the request was made and on what basis?

    We have a booking deposit on a new build since early March with the house previously to be ready by August. Contracts are with solicitor but we havent signed yet as we are waiting on loan offer from the Bank. Issue might be the very small exception we are looking for. Builders havent been pressuring us for signing either. I expect they are experiencing a lot of the same and if banks aren't granting exceptions for however long I expect a lot of people will be looking for discount.

    Any thoughts welcome.


Comments

  • #2
    Xterminator
    Registered Users, Registered Users 2 Posts: 4,782 ✭✭✭Xterminator


    safety measures to add to cost of building, not reduce them. there is a risk here for you, because some demand for housing is probably pent up during lockdown too.

    im guessing a depressed economy over the next couple of years with higher unemployment should dampen house prices, but im by no means sure that the cost of a new build will come down and if so by what %

    So you are taking a chance. Waiting and seeing is no harm, but if you will be paying high rent while your waiting, then it may turn out to be a negative saving in the end.


  • #3
    Conrad83
    Registered Users, Registered Users 2 Posts: 155 ✭✭Conrad83


    Xterminator wrote: »
    safety measures to add to cost of building, not reduce them. there is a risk here for you, because some demand for housing is probably pent up during lockdown too.

    im guessing a depressed economy over the next couple of years with higher unemployment should dampen house prices, but im by no means sure that the cost of a new build will come down and if so by what %

    So you are taking a chance. Waiting and seeing is no harm, but if you will be paying high rent while your waiting, then it may turn out to be a negative saving in the end.

    Yes we are currently paying rent which is slightly more then what our monthly mortgage payments would be. It is our dream home and will be in it forever hopefully and we fully intend on proceeding if we can. And we are happy paying the original price.

    I suppose if we cant get our exception from the bank then we will have nothing to lose by asking for a discount and that is the reason we would be asking, if not we will have to pull out anyway.


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