New units & the 'starting from' price

[penny]

Hi,

I'm looking to buy my first IP (exciting!). My question is, when there is a new townhouse or unit development listed and they have the price as starting from a certain amount, can you negotiate lower than the 'starting from' price? Or is it pretty much set? Has anybody had success in negotiating lower than the starting price range.

thanks
Penny

 

[softmonkey]

new development of multiple units? then the "starting from" price is always the price of the smallest unit in the crappiest location. which is sometimes "oh, we sold that this morning"

each of the other units will have a different set price based on perceived advantages, views, parking, courtyards, extra rooms

bottom line you will end up paying more than the "starting from" price. and even that is unlikely to be negotiable but you can always try

 

[Peter_Tersteeg]

There's no such thing as a set price in property, everything is negotiable. If they quote a 'starting from' price, that's the listed price of the cheapest price in the development.

The listed price is negotiable, but in a hot market it would be difficult to get it for less.

 

[lizzie]

and i very doubt you would get it for less than their asking price unless the development was finished, the last few properties weren't selling and the builder wanted to move onto other things.

this is what can happen - but don't hold your breath for the non-selling units as often there can be nothing left. people tend to wait until the development is started so they can "see" the layout and views etc, before buying - but if the development is good, in a good location, they often sell very quickly at this stage.

 

[buzzlightyear]

Negotiations don't always need to be about price. They may involve for example upgrading/upspecing internal fittings (if they have a few internal choices) in lieu of price reduction.

Obviously this approach is suited to doing this before it is built and will also depend on your negotiating skill and the success of the development with regards to sales as mentioned by Lizzie & PT Bear...

Good luck with it and let us know how you go..

 

[penny]

Thanks guys!

cheers
Penny