Housebuilders are offering a smorgasbord of sweeteners to get deals over the line without cutting headline prices as they battle to sell properties in a slow market.
“The most common incentive is a contribution to stamp duty or an upgrade to the spec of the interior finish,” says George Cardale, the head of residential development sales at Savills. “These incentives can work out a better saving than negotiating on the purchase price,” says Christina Ballands, the head of new sales for Cheffins estate agency in East Anglia.
When to ask
When it comes to build and interiors, the most valuable perks are secured at an early stage. With less of the home built, you have a chance to get significant structural alterations, says Carol Peett of West Wales Property Finders. “You can typically get a dining room and kitchen converted into an open-plan room if the interior walls aren’t already up.”
As an early buyer you also have greater financial leverage, especially if you’re buying with cash, because the developer is keen to register early sales. In December Peett did a deal with a developer on top-end white goods — “an Aga, a fancy American fridge, slate worktops, solid-wood flooring” — for a cash buyer of the first of five homes from a small developer in Narberth, west Wales. The sale price was £350,000; Peett reckons the perks were worth £40,000……..
Local homework also helps, Peett says. “Go to previous developments by the same company and knock on people’s doors to find out what perks they managed to get. If what a developer is offering doesn’t suit you, ask for something else”…….
If you are looking to move to Pembrokeshire, Carmarthenshire, Ceredigion or Gower, or purchase a property here, give West Wales Property Finders a call on 01834 862816. We can not only find you your perfect property but also save you time, stress and often money http://www.westwalespropertyfinders.co.uk.
https://www.thetimes.co.uk/article/perks-that-are-worth-more-than-a-price-cut-xsbswwc5c – The Times Bricks & Mortar Friday, 19th October 2018