New build discounts

5
Posted 6th Jan
I am looking to buy a house with Miller Homes.

I have seen them reduce a property on the market for 2 months by 10%.

The property I am interested in does not commence build until next month and so they have told me there would be no discount available.

Are they having me on? How can I get 10% off that one?!
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There are a lot of variables when it comes to discounting. I don't know what Miller provide as standard but you're much more likely to get upgrades or stuff added for free compared to a cash discount.

One of the big factors will be how quickly they're selling vs. how quickly they're building.

Naturally a developer won't want lots of houses sitting there doing nothing whilst the builders carry on building so those houses will get incentives. And toward the end of a development you might find they want to pack up and move on somewhere else so may not wait as long before dropping prices.
There’s always discount in my opinion. This can depend on your own position and also when you buy / how far along the development is. Just remember shy bairns get nowt
I can’t believe that they’re unwilling to negotiate on the price! I’d approach them again.
Phil Spencer gives guidance on buying off plan
I think a lot of it depends upon if they think that it will sell at the current price. One thats built and up already is 'losing' them money as nobody is in it yet they've paid out to build it hence discounting to see if its possible to sell. One thats not yet built isnt yet costing them (bar land I suppose) and so they've time to sell it.

I doubt VERY much if you'll get 10% off that. A few thousand maybe, or, extras but not huge amounts.
If they are selling like hot cakes I doubt you will see a discount. Normally right before the last phase of houses being built (for example phase 3), if there are still houses left over from phase 1 and 2 they may be inclined to discount them (after phase 3 is sold) as in between phases plans can change to create a cleaner plan aka, phase 1 and 2 could have a wall separating kitchen and lounge but phase 3 doesn't and people prefer that which means they'll buy phase 3 instead of 1 or 2.
Like people have said if anything it will be very close to the end of phase 3 / after they're built they would maybe discount but then you're taking a risk of not getting one at all.
Things like maybe a street of them overlooking/backing onto a council area may also put people off or if you're going to be next door to the social housing part (if there is any). Then that could in the future directly damage value and you could argue that but you really need to just ask.
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