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Old 12-01-2007, 19:40   #1 (permalink)
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Question Advice re buying house that has just started to be built

Just been speaking to a sole builder who has started building a house about 100 yds from where we currently live. Being a popular village I don't feel I can wait until house is built before doing a deal. My concerns are, that if you had the luxury of waiting until all built you know the builder will put in pretty decent stuff to try & get top money back. If you agree a price now, you know the builder will skimp areas to increase profit.

How would you move forward ?

Only option I can see, is to show serious interest & get builder to take day out & show me all materials / fittings that he intends to use & then pull together a huge list that we both sign as a form of contractual agreement, that has to be delivered before completion of purchase

As the property is only halfway up ground floor build, it does give us the option to choose everything in kitchen, bathrooms ....even windows. Would you see what he was going to fit & use that agreed budget for what we would use ?

Could be fun negotiations, as you obviously want them to feel the need to justify their premium prices, instead of feeling they can now make out they are fitting lesser quality items as they feel they have the sale sorted.

Tempted to go the route of "I'll buy the house without selling mine, so no chain etc...according to the quality of build, fittings etc" ...... the right way to go ?

I can feel Mr Brown rubbing his hands at more Stamp Duty
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Old 12-01-2007, 19:54   #2 (permalink)
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Re: Advice re buying house that has just started to be built

hi dave, im from a building background and i think i know where you're coming from.

1) if the builder is building the house to sell on as quick as possible it probably will not be constructed with the max spec and detail. If i was you i would let him know you were interested in the house before he starts on the inside work and trimming out.
this way the builder knows he probably will get a sale and will be more detailed about the work (depends on how many workers are on site but this is usually the case).

2) I wouldnt mention money in your first conversation but make it clear that you are interested!

3) The next thing i'd do is try to view the plans. you could do that by contacting the builder or the architect.

4) If you were happy with the plans then get in touch with the builder and architect and say you would like a meeting about purchasing the house with the possibility of agreeing a contract before the construction is finished.

5) By this time you will have an idea of the plans and therefore have any changes you may have in mind ready for the meeting, this could then be discussed, a contract drew up and a price agreed!

Hopefully this is helpful and all the best for moving house!

Steve
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Old 12-01-2007, 20:06   #3 (permalink)
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Re: Advice re buying house that has just started to be built

I agree with Steve. You can buy 'off plan', and then you can get your own tweaks incorporated before the house is started. I don't mean really major stuff, but you might be able to get the layout more to your liking - doors in different places, or even walls moved etc. Fittings are not really a problem as unless you want solid gold stuff, the differentials are not great in the general scheme of things.

It will also give you an opportunity to do major tweaks if you can agree a price.
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