Dear money saving experts,
I'm not sure this is the right thread for this question, so please bear with me if Im doing anything wrong.
I'm a first time buyer who's going to buy a new build house. The house was built on 2008 and the current owner bought the house nearly for £200,000. My offer was accepted for £150,000 and I'm currently looking for a FTB mortgage to to fit in with my requirement.
House price has dropped down approx. 25% for last 4 - 5 years, so is it a something for concern??
Is it usual to have a high depreciation on new built?
Note - I have performed a survey and everything seems to be OK. Other than that I will have another 5-6 years of builders warranty left with the property.
Thanks for all your responses.
Regds.
I'm not sure this is the right thread for this question, so please bear with me if Im doing anything wrong.
I'm a first time buyer who's going to buy a new build house. The house was built on 2008 and the current owner bought the house nearly for £200,000. My offer was accepted for £150,000 and I'm currently looking for a FTB mortgage to to fit in with my requirement.
House price has dropped down approx. 25% for last 4 - 5 years, so is it a something for concern??
Is it usual to have a high depreciation on new built?
Note - I have performed a survey and everything seems to be OK. Other than that I will have another 5-6 years of builders warranty left with the property.
Thanks for all your responses.
Regds.
