Buying in a new development - can you offer less?

Hi All,

This is my first thread, not sure if i'm even in the right section for this question but here goes: I am interested in buying a new house in a new development in Waterford City. They have already dropped in price but my question is whether or not I could offer below the current asking price? I know if it were second hand it would be the norm to offer below, but are new developments different? Or with the current climate will the builder appreciate an offer. There are roughly 15-20 houses empty in the estate.

Thanks!

Of course you can.

Has anyone any experience of buying a new house at a lower price lately to what is being asked from the builder? What kind of price drop did they get?

Bought one recently..built end of 2007 and on for 400k..rented till now by developer and cuirrent sale price was 260k.. Eventually got it for 215k..Happy enough as lovely semi-d facing the shannon.

Thanks for that. I just didn't think you could offer lower on a new development. Do you think this is the case elsewhere.i.e other builders are open to offers. I suppose really want I want to know is how long a builder will leave a house sit empty before having to take a lower offer

mollyp said:

I suppose really want I want to know is how long a builder will leave a house sit empty before having to take a lower offer

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How long is a piece of string? Impossible to answer. Depends on the builders own situation. Work out what you can afford. The worst that can happen is the builder says no - then you could consider a higher amount.

mollyp said:

my question is whether or not I could offer below the current asking price?

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Yes, I did. It obviously depends on the developement and developer, but certainly these days there's wiggle room in most cases. The level of discount will vary. My advice, put in an offer that you think is fair (and not a **** take) and see what happens. If it's rejected, you can always probe to see if they'll meet halfway etc.