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New Developments - List Prist query

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  • 01-10-2019 10:51pm
    #1
    Azizur Rahman
    Registered Users Posts: 70 ✭✭


    Hello all,

    My partner and I are looking to buy our first house hopefully this year or next. We are HTB approved and are looking at new developments.

    All the developments we've been looking at have list prices for the different house types etc. On the Property Price Register, the sale prices for earlier ohases are usually a significant portion cheaper than the list price.

    My question is, would it be normal to make an offer below list price for a new house or is that not done? Thanks.


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    #2
    Brego888
    Registered Users Posts: 1,321 ✭✭✭Brego888


    In most developments particularly if you are buying in Dublin prices have gone up in each phase over the last few years. This is represented in the increased prices you are seeing compared to ppr.


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    #3
    tomister
    Registered Users Posts: 271 ✭✭tomister


    You’ll also find that orientation and location within the development fetches a premium for the same house type.
    As for the difference in price from phase to phase it generally reflects the demand at the time the next phase releases. I know I was looking for a particular property type and would need to wait for two phases after the current one but I would have paid the current phase price


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    #4
    omicron
    Registered Users Posts: 835 ✭✭✭omicron


    Azizur Rahman wrote: »
    Hello all,

    My partner and I are looking to buy our first house hopefully this year or next. We are HTB approved and are looking at new developments.

    All the developments we've been looking at have list prices for the different house types etc. On the Property Price Register, the sale prices for earlier ohases are usually a significant portion cheaper than the list price.

    My question is, would it be normal to make an offer below list price for a new house or is that not done? Thanks.

    The price on the register doesn't include VAT. The list price does.


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    #5
    PhoenixParker
    Registered Users Posts: 2,677 ✭✭✭PhoenixParker


    omicron wrote: »
    The price on the register doesn't include VAT. The list price does.

    This + phase related price increases is the answer.


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    #6
    RiseToMe
    Registered Users Posts: 1,272 ✭✭✭RiseToMe


    To follow up on your question, is it okay to offer below list price, yes. We done it and got it for 8k less than list price.


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    #7
    Azizur Rahman
    Registered Users Posts: 70 ✭✭Azizur Rahman


    Thanks for your replies. I didn't cop the PPR didn't include VAT :(


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    #8
    StoptheClocks
    Registered Users Posts: 215 ✭✭StoptheClocks


    The vat is 13.5% and it's not included on the price register for new builds. You will have to pay a 1% property tax also. The one percent is on the list price minus the vat.


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    #9
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    StoptheClocks wrote: »
    The vat is 13.5% and it's not included on the price register for new builds. You will have to pay a 1% property tax also. The one percent is on the list price minus the vat.

    That’s stamp duty due on every paper transaction in the state including new and second houses


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