Colin
Member
Registered: 4th Apr 02
User status: Offline
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Anyone done this? I need to know a few things, like what's taken into account to secure a plot off plan etc.
Ive just read in the local paper theres going to be new 3 & 4 bed detached houses built in my town, on the land of an existing school thats being replaced. The sites quite big & is being built on by pretty decent size builder.
Its very rare for something like this to happen in my town as there is a massive exclusion zone around the local petrochemical works (Basically nothing can be built within so many miles of it) so im wanting to get onto this & not miss out.
Also theres to be about 50 houses to be built, bearing in mind its a medium size building company, what sort of time scale could the development take approx....if anyone in housebuilding would hazard a guess.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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If you can, get the show house nice and early. That way, the developer will rent it off you til all houses are sold and effectively pay your mortgage for you.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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That would be nice, however due to my current employment circumstances & lack of ability to aquire a mortgage for 200k or whatever until im time served, its probably going to be one of the last plots built id have to go for......in order for me to come up with the goods.
Thats why im asking about how you reserve one & what type of things they look at?
Currently im on average money but not enough to buy a £1/2M house, however Im plenty good for a deposit & once its built id be earning well over enough.......would that satisfy them enough to let me reserve one?
My old man recons you can reserve a house for 500 quid or whatever then once it recieves a habitation certificate its down to you if you can secure the mortgage....if not you lose your deposit & someone else gets the house 
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Bonney
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Registered: 14th Nov 04
Location: St Helens
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We was told something about these new build houses by a lecturer when i was at college. He said that usually the first people to buy get a good discount as its sort of compensation for all of the noise that will be caused, and also your doing them a favour by being sort of a site security.
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ash_corsa
Member
Registered: 15th Apr 04
Location: Shrewsbury
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Buying off-plan saves you alot of money, you get big discounts as the developer needs the cash to pay back their lenders.
Bonus is you can make changes (depending on the stage you buy at)
You can have internal walls moved, sockets and light switches where you want them, you get to choose paint, tiles, fixtures and fittings etc...
Down side - buy the house and not live in it for a while, and when you do move in the site usually wont be finished so it will be very dirty and noisey.
But most good developers will pay for car washing, window cleaning etc.. while the site is still active.
All in all, if you've got the cash and not in a mega rush to move out, you can save alot of money and when you move in your house will instantly be worth more than you paid for it and it looks exactly how you want it, not like everyone elses which will all be exactly the same looking and to the same spec.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Ive been on their site & found a couple houses I think will be similar to the ones on the site in my town.
http://www.carronvalehomes.co.uk/aguilla/housetypes_victoria.html
£188-197k for a 4 bed with garage, so a bit less for a 3 bed.
I should have around 50k to put up front with the sale of my flat plus savings (no new car for a while then  ) so its just a matter if me & Jade would be able to get a mortgage between us for the rest.
This is looking promising.
Just need to phone up tomorow to get some info as theres nothing online yet.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by ash_corsa
Buying off-plan saves you alot of money, you get big discounts as the developer needs the cash to pay back their lenders.
Bonus is you can make changes (depending on the stage you buy at)
You can have internal walls moved, sockets and light switches where you want them, you get to choose paint, tiles, fixtures and fittings etc...
Down side - buy the house and not live in it for a while, and when you do move in the site usually wont be finished so it will be very dirty and noisey.
But most good developers will pay for car washing, window cleaning etc.. while the site is still active.
All in all, if you've got the cash and not in a mega rush to move out, you can save alot of money and when you move in your house will instantly be worth more than you paid for it and it looks exactly how you want it, not like everyone elses which will all be exactly the same looking and to the same spec.
Any idea at what stage you need to start paying for it? Or is it just a case of paying a small deposit then the rest when your ready to move in?
Getting to make changes pre-roughing sounds good, though I used to work for a building sub-contractor & know some of them charge the earth to do anything thats not to their drawing!! 
Dont really mind living on a building site at all that sounds fun!!
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I bought my flat off plan and they were still building others when I moved in. Was a bit messy for a bit but it does work out cheaper. Reserved for £500.
[Edited on 12-06-2008 by Ian]
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Yep, £500 was the reserve price here too. Non-refundable if you pull out, but that sort've goes without saying.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Any questions when you reserved it?
Im just paranoid their going to question my employment situation. Which is a bit long winded but is a good situation none the less.
Could I just turn up with my 500 quid & say 'I want that one' 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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They asked for mortgage certificate but I'm sure I passed that in later when it was arranged, can't remember. They may have hung on for it but I don't recall them being overly keen to assess my financial circumstance. Think the sales guy just wanted red dots on his laminated map.
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