Just "eh?" at this post....
Of all the crazy posts on this forum I'd say the one you quoted would barely raise an eyebrow from me - everything he said has some grounding in reality:
"Go to Tesco. Cheapest"
Yep, they do look the cheapest at 1.99% (although as I mentioned earlier, do some sums regarding arrangement fees)
"and you are in a great position"
Sub 60% LTV is indeed a great position for a FTB.
"I would be bartering the cost of that house down to £150k as well."
New build properties nearly always sell below the list price and maybe he feels that a slightly bigger discount could be on the cards.
"House prices are falling not going up"
Correct, although there are regional variations and round here (the OP is buying close to me) generally holding their value (including new builds).
"so you could find it is worth less in 5 months time"
Perfectly true, in the current market it is not inconceivable for a property to be worth less in 5 months time.
"New builds tend to hold their value less than an older more mature property."
Again this is a widely held belief for several reasons:
-Some people don't barter as well as others and end up paying close to or on the list price which is more than the property is worth
-New builds will carry a premium because they can be decked out to the customer specification which you can rarely (easily) do with a secondhand property. So that has significant value to the first person to buy it, but not so much to the actual market value in terms of what it would be worth to somebody else
-The original purchaser gets the benefit of two years snagging whereas the next person to buy it won't, so will have the disadvantage of poor build quality relative to older houses, without the insurance of snagging (NHBC is 10 years but is much more limited in scope)
So overall I don't think there was much wrong with his post.
