Haggle or hop it, expert advises buyers

by Christopher Evans

Anyone buying their own home who is looking at a new build could follow the advice of an expert and be prepared to walk away.

Paul Holmes, chief executive officer of Firstrung, believes that the current incentives being offered by redevelopers are "insulting" to buyers.

He suggests that buyers try and get housebuilders to knock between 15 per cent and 24 per cent off the price listed on the for sale boards.

Mr Holmes believes that developers want buyers to get in as much debt as possible but are offering the equivalent of "chicken feed" when it comes to incentives.

"If you can't get a good discount off the headline price walk away, because there will be another, more desperate developer down the line who will knock a sensible amount off the cash price of the property," he advises.

The average price of new homes sold in the UK during the fourth quarter of last year was £183,000, according to the National House-Building Council.

Published on: February 12, 2009

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