We were looking for a different way to incentivise our properties without resorting

Posted by admin on Oct 05, 2010 | Leave a Comment

“We were looking for a different way to incentivise our properties without resorting to the general ‘carpets-and-curtains’ type offers that are around,” explains Ben Walsgrove, Braemore’s director.Laing Homes is motivating buyers by paying stamp duty, legal fees, 5 per cent deposit, part exchange and fitted carpets at several north London schemes, including Angel Square in Edmonton, Stanmore Park, Stanmore, The Point in Stoke Newington and Quarles Park in Chadwell Heath. Three-bed townhouses there start at £499,950.Braemore Properties in Nottingham always hit the headlines when they offer enticements, such as giving away £5,000 worth of art and a £5,000 diamond to lucky buyers of one- and two-bed apartments, which start from £180,000 at Park Rock. But I would rather do that than lower the price by £20,000.”Paying stamp duty is now a popular way to shift a home, as buyers are so opposed to this extra tax. Martin Grant Homes is paying stamp duty on some apartments priced from £274,995 at Riverview Court in Cambridge. Meanwhile over in Teignmouth, Devon, Vine Leisure is celebrating “January Madness” at Seacliff, paying stamp duty and giving £5,000 cash back on apartments starting at £275,000.And, rather than leave buyers with job-lot carpets, Countryside Properties is giving away £20,000 worth of John Lewis vouchers to spend on home furnishings at Sterling Place, Weybridge.

The art dealer says, “I am willing to pay his or her 2 per cent, so I’ll have to pay around £6,000 in total. James Kayll, owner of a £269,950 two-bedroom flat in Barmouth Road, Wandsworth, is offering to pay the stamp duty for his purchaser. “This way the buyer gets around £5,000 worth of freebies, which of course are not free, while the developer buys in bulk and only pays £2,000,” Barnes explains.Sometimes an inducement is worth considering. But the real reason that developers offer you “free” perks is because they don’t want to cut prices and upset their bank managers. Yolande Barnes from FPDSavills’ research department says that incentives are sometimes a crafty ruse.

Free carpets and curtains do save you money – if you like the patterns they choose. Private vendors and the marketing departments of major house builders have embraced the spirit of the January sales Advertisements scream out bargains galore. From cash back, 5 per cent deposit paid and 100 per cent part-exchange, to free stamp duty, legal fees, parking spaces, carpets, curtains and light fittings – all sorts of extras are being used to attract buyers. My favourite was “turfed gardens!” – note the excalamation mark for something we would surely expect to be part of the package anyway.You can pick up some good deals, but buyers should also beware. “I suspect an American or Russian will want to buy it and as it is such a big house, they won’t want to look for furniture to fill it,” says a hopeful Capra. “They can have the key and just walk in.”Rosemary Plant from FPDSavills in Wimbledon, one of the agents selling Capra’s dream home, says such incentives could be seen purely as gimmicks – but they really are about getting people through the front door of this home. “And once they’re inside, they’ll appreciate the workmanship.”This is the season of incentives.

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