Gentoo new builds Pennywell area



Roaring Chubby

Midfield
All these stupid expensive new builds are basically aimed at young couples (the Instagram generation) who are doing ok for themselves. They need a nice new build on a new estate so they can post pictures of their leased Audi A1 and BMW 1 Series on their social media - It's all about image.

Which is fair enough like. But I reckon at some point in the next ten years interest rates are going to jump up and there will be a lot of people in the shit.

There is 2 bed semi's round my way (much nicer area than Pennywell) which are bigger, probably better built and have bigger gardens for £80-£100k. Ok so they're 50 years old and don't have the 'designer' look of these new ones but for £150k less who cares. Throw £25k at it and it would probably look better anyway.

Ill buy a £80-£100k semi now and in 10 years time when the shit hits the fan snap a re-possesion up :)
sorry to break this to you but houses for 80-100k is low end by any measure and on par with pennywell in terms of pricing. You might like it and I’m pleased you do, but the houses would cost a lot more if it was a desirable area.
 

Osklen

Central Defender
sorry to break this to you but houses for 80-100k is low end by any measure and on par with pennywell in terms of pricing. You might like it and I’m pleased you do, but the houses would cost a lot more if it was a desirable area.
A new house must cost a minimum £60k plus to construct a standard terraced 2/3 bed house for the superstructure dependent upon finishes, therefore by the time you add in the affordable housing quotas, section 106 costs, planning costs, design team fees, land value / demolition / abnormal costs, substructure, warranties, marketing, white goods etc... you’d be north of £100k dependent upon the number of houses within the development and location.
 
sorry to break this to you but houses for 80-100k is low end by any measure and on par with pennywell in terms of pricing. You might like it and I’m pleased you do, but the houses would cost a lot more if it was a desirable area.
I'm sorry mate I don't understand your point?

If 80-100k is about right for Pennywell then why spend 200k+ on a similar house in Pennywell?

Like that's the point I'm making... Image is so important to younger people doing well for themselves, they'd rather spunk £200k+ on a new build than an older, very similar house for £80-£100k.

It's all an image thing, these house builders have cottoned onto it and are milking it, just like Audi, BMW, Mercedes who will flog a pretty crap quality basic hatchback to these people on a cheap lease.

That's who these houses are aimed at IMO. The want it now, everything on tick generation.

Again nout wrong with that. Was just making an pretty irrelevant point and now I've finished writing this up and read it back I feel a right twat for making it lol.
 

Gala

Winger
We just bought one of the new builds at Doxford Park, 4 bed detached but they have been pushed back until the end of the year now.

We sold a 3 bed semi in the same area which had decent room sizes but no scope to extend or anything so it's all trade offs really.

Only annoying thing is the same house is £35,000 cheaper just a few miles away in Houghton but I suppose it's location you pay for. I'm born and bred in the doxy area (being the best side of Sunderland why would I leave 🙃)

Build quality concerns me but the mess we had to deal with at the old house was probably just as bad.

The Gentoo ones at penny well look nice, just overpriced like all new builds.
lol
 

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