New Home - Builder Bargaining??

[Envitro99]

Hi guys,

given that it's pretty much a generally acknowledged fact that it's a buyers market I was hoping to get some advice on bargaining with a builder on a new home. We're looking at the west side, maybe Montreaux. The 7th phase is getting finished and there's a few lots left. Those lots have been unsold for the last 6 months with no movement.

I'll say that one of the lots is a "pooled lot", so any one of the two builders left could build on there so I could theoretically pit them against one another.

How much room is there for negotiation in your experience? Has anyone had any success in this case?

Much appreciated. Thanks.

[2.2vtec]

What I did was go to the other builders out there who are building in that area and get a price including all the upgrades you want. Then go and show them X builder is willing to build this house for X dollars what can you do.

I did this earlier and got an extra 200 sq ft added to the house AND they dropped the price 20k.

[98type_r]

Originally posted by 2.2vtec
What I did was go to the other builders out there who are building in that area and get a price including all the upgrades you want. Then go and show them X builder is willing to build this house for X dollars what can you do.

I did this earlier and got an extra 200 sq ft added to the house AND they dropped the price 20k.

What area and builder was this? Also, what was the purchase price of the house? I'm looking at some places in the NW right now and would like to gauge this against the homes i'm looking at.

[Tik-Tok]

Get them both on the phone in a conference call :thumbsup:

[dollarbillz]

we just bought a show home for a really good deal almost $100K off and it has $120K in upgrades so it goes to show that it is a buyers market you jus gotta know how to negogiate we even got to keep all the appliances and even some furniture :D

[frozenrice]

Originally posted by dollarbillz
we just bought a show home for a really good deal almost $100K off and it has $120K in upgrades so it goes to show that it is a buyers market you jus gotta know how to negogiate we even got to keep all the appliances and even some furniture :D

How long has the showhome been around for? If anything, it was probably built over 18months ago when prices were relatively low. So if you bought it @ $100k off of current market price, you got at real good "deal". :D

[dollarbillz]

checked the paperwork about 8 months old reason for selling is they wanna promote a newer model of the lineup!

[Toms-SC]

Deals to be had for sure :) Good to hear!

[redline]

Originally posted by Envitro99
Hi guys,

. We're looking at the west side, maybe Montreaux. The 7th phase is getting finished and there's a few lots left. Those lots have been unsold for the last 6 months with no movement.

Much appreciated. Thanks.

I would stay away from Montreaux, there is low income housing going in there and lots of houses up for sale and prices falling...

But they will deal, i have built two houses in the last 7 years and have not paid list on either one.

[spiceboy]

Originally posted by redline


I would stay away from Montreaux, there is low income housing going in there and lots of houses up for sale and prices falling...

But they will deal, i have built two houses in the last 7 years and have not paid list on either one.

Where did you get this information? I'm looking at Montreaux as well and would like to know more about it.

[autumnrain]

if you got some deals off the price? could you post please?
just wondering what you could negioate off the prices now and days

[frozenrice]

Originally posted by redline


I would stay away from Montreaux, there is low income housing going in there and lots of houses up for sale and prices falling...

But they will deal, i have built two houses in the last 7 years and have not paid list on either one.


What exactly qualifies as low-income? If you're thinking that the area will suddenly turn into the ghetto, it'll not likely happen. Interested in finding out more about what you've heard though. :D

[Envitro99]

I would also love to know a percentage that you were able to get discounted...

[spiceboy]

Originally posted by frozenrice



What exactly qualifies as low-income? If you're thinking that the area will suddenly turn into the ghetto, it'll not likely happen. Interested in finding out more about what you've heard though. :D

Ok ... found something about Montreux:

http://www.springbankhill.org/news_and_events/SofMontreux_announcement.pdf
http://www.springbankhill.org/news_and_events.html

[autumnrain]

MAN THAT SUCKS I KNOW SOMEONE WHO JUST BROUGHT IN THAT AREA YOU THINK IT WILL MAKE A BIG DIFFERENCE IN PRICE FOR THE SURROUNDING HOMES/>

[Envitro99]

I doubt that it would affect the price significantly, but it will make a difference for sure. How much is anyones guess, but it makes a good point during negotiation I guess...

[riceboi]

Originally posted by frozenrice



What exactly qualifies as low-income? If you're thinking that the area will suddenly turn into the ghetto, it'll not likely happen. Interested in finding out more about what you've heard though. :D

I agree. This is not a "drop in" center where you find drug addicts wandering on the street. To qualify for it you need to have certain income level so this is more like subsidized housing. IMHO, I don't think the city picks the best place for this program since accessibility (eg 5am-12midnite buses, nearby public schools) in this area is horrible. One of the guys told me that the developer of the condos complex couldn't find enough buyers so he sold it to the city.