House Part Exchange - New Build

JAZZMANB said:
Think it's known as a 12 week price or something. Like a trade price on a car ..Priced to sell quickly


Think it has to be about 75% of the new home value or less .can't quite remember
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Yes jazzy that’s the term I’ve heard used.

beezer said:
Very probably. There was definitely something in it for them to do it that way, but other than about £50 stamp it made no difference to me so I went with it. Best thing I ever did to be honest, I know people slate new builds but I’ve been very happy with mine.
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There is a weird inverted snobbery when it comes to new builds. Usually around the fact that although they are made of brick and breezeblock they have an internal plaster board wall so they will collapse in the event of a strong wind....pound for pound square metre they tend to cost more but you have no maintence costs and they tend to attract families so are good for those with kids.
 
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Le Chuck said:
I always thought it was due to that other people can lookup selling prices, and its in their interest that the selling price is as high as possible to give the impression the houses are worth more than they really are.
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Yeah next door bought theirs roughly the same time and paid full asking price according to the figures. Easier for the builder to justify a 5k difference between us as opposed to 15k should they have somehow found out what I was paying.
HANDSOME_DAN said:
There is a weird inverted snobbery when it comes to new builds. Usually around the fact that although they are made of brick and breezeblock they have an internal plaster board wall so they will collapse in the event of a strong wind....pound for pound square metre they tend to cost more but you have no maintence costs and they tend to attract families so are good for those with kids.
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They’re so well insulated they cost nothing to heat either. Costs me less than my old place despite being nearly twice the size.
 
TopCat said:
Starting to look at houses with a view to moving in the New Year. Spotted 'part exchange' on the Taylor Wimpey site and wondered if anyone had ever done this? Is it worth it? Presumably it's similar to part ex on a car where you get much less than the value but it's less hassle?

Anyone experienced this?
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We did it on ours, sold the house to barratts for 85k after it'd been listed for 100k....we thought we'd been robbed but wanted to move. I kept an eye on the old house and it eventually sold for less than 70k.....made me smile
 
beezer said:
Yeah next door bought theirs roughly the same time and paid full asking price according to the figures. Easier for the builder to justify a 5k difference between us as opposed to 15k should they have somehow found out what I was paying.

They’re so well insulated they cost nothing to heat either. Costs me less than my old place despite being nearly twice the size.
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Agree. Building regs have a lot to answer for!
 
There is a huge profit built in to the price of the new build.
I see plenty of part exchange properties selling at less than the price the builder gives you.
The amount they give can also depend on how well the new houses are selling on the development.
 
TopCat said:
Starting to look at houses with a view to moving in the New Year. Spotted 'part exchange' on the Taylor Wimpey site and wondered if anyone had ever done this? Is it worth it? Presumably it's similar to part ex on a car where you get much less than the value but it's less hassle?

Anyone experienced this?
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5 years ago with Barretts, got no where near market value and the new house is like house that jack built.
Leaks, blockages, broken door loocks, more leaks and boiler breakdowns, dont bother mate.
 
Ambivalent Squirrel said:
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aye us too. just shows you the margins on new builds that they can chin off 4k at a stroke
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We bought our house 6 years ago from a building company who had part chopped this house from a couple who’d moved into a new build retirement house.

But we got the house for 15k less than what it was on the market for, I don’t know how much they bought if for. At one point it was on the market for 40k more than what we paid.

It all depends how desperate sellers are.
 
Stevie Freestein II said:
We bought our house 6 years ago from a building company who had part chopped this house from a couple who’d moved into a new build retirement house.

But we got the house for 15k less than what it was on the market for, I don’t know how much they bought if for. At one point it was on the market for 40k more than what we paid.

It all depends how desperate sellers are.
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Have you checked sold house prices. It should be listed on there.

You can't combine help to buy with part ex, that's the main downside for many.
 
People seem no to realise that there’s negotiation to be had when buying a new build so that’s where they make their money. I once went out with a lass who was a sales negotiator for wimpy and she said that there’s quite a lot of room in the price. She used to rub her hands together when people came in and paid the asking price as though it was set in stone.
 
AndrewP said:
You get an offer based on how much it would sell for quickly. This is likely to be lower than you'd get on the open market if you were willing to wait.
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Done it twice and it works exactly as AndrewP describes - you get a quick sell price which is below what you could get. On the flip side you don't have all the hassle of selling and chains etc.
 
TopCat said:
Starting to look at houses with a view to moving in the New Year. Spotted 'part exchange' on the Taylor Wimpey site and wondered if anyone had ever done this? Is it worth it? Presumably it's similar to part ex on a car where you get much less than the value but it's less hassle?

Anyone experienced this?
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Done it last year. Largely positive experience, got a very good price for ours. Much will depend on circumstance presumably, I.e. how much incentive the builders have to sell at any particular time etc. As it happens we got two valuations for px with different developers and they were around £10k apart.
 
AndrewP said:
Have you checked sold house prices. It should be listed on there.

You can't combine help to buy with part ex, that's the main downside for many.
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Agent told us the previous occupants had part-exed this house, had been on the market for four month but it didn't show up on any recent sales. Mind, the agent was probably full of shit.

Never saw the appeal of a new build until we moved here. Victorian terrace that had my life the first few year. Since I gave up and decided to live in a ruin life has been much easier.
 
Kevsgreat said:
Agent told us the previous occupants had part-exed this house, had been on the market for four month but it didn't show up on any recent sales. Mind, the agent was probably full of shit.

Never saw the appeal of a new build until we moved here. Victorian terrace that had my life the first few year. Since I gave up and decided to live in a ruin life has been much easier.
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The part ex wont show up on the previous sales.

My last house (which i part ex'd) has the price i bought it for, and the price the new people paid for it. The price the new people paid was £13k less than i got from the builders. The middle transaction doesnt show up.
 
cornish mackem said:
People seem no to realise that there’s negotiation to be had when buying a new build so that’s where they make their money. I once went out with a lass who was a sales negotiator for wimpy and she said that there’s quite a lot of room in the price. She used to rub her hands together when people came in and paid the asking price as though it was set in stone.
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Considering the pound notes at stake I found it to be quite a pleasant chilled way to spend a lot of money
More hassle in Top Man or a Turkish gift shop
 
Le Chuck said:
The part ex wont show up on the previous sales.

My last house (which i part ex'd) has the price i bought it for, and the price the new people paid for it. The price the new people paid was £13k less than i got from the builders. The middle transaction doesnt show up.
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Funnily enough, on mine, the price I paid doesn't show, but the part ex does.
 

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