I paid too much!

[judethepude]

I don't know if I want to know the possible answers to this one, but I need to be told. I bought a new townhouse off-plan last year (in West Yorkshire and from Persimmon Homes) and I have since found out that I paid �8000 more than the buyers at the other end of the row - it's the same house! I also seem to have paid more than practically everybody else on the plot! I thought the price advertised was the only price. Have I been naive and stupid?? Don't be afraid to tell me. I need to learn.

[buildersmate]

Buying a one-off is very different from buying a commodity, like a pint of milk where the price is clearly displayed.
Both are 'offers to treat' - an offer to sell you the thing in exchange for a consideration - money.
In a supermarket you will get short-shrift if you do to the counter and say - 'I'll give you 2p less than this'.
With a large purchase, there is no fixed thing as a fixed price - however much the seller may prefer you to believe it.
You didn't do anything wrong and you were happy with your purchase. You have only only become less satisfied since you found additional information about others
The learning point is to remember that there are variables on which you could negotiate - extras, price etc.. Practice these skills perhaps on medium-sized purchases next-time you buy a TV. Then you'll be ready for your next house purchase.
What - you didn't know you could negotiate the price of that TV as well?

[EmEd1984]

no not naive and stupid at all! but the price advertised is an asking price - it's a guide as to what the vendor thinks its worth.

perhaps they negotiated?
or if they could move in quicker they were offered a discount?
or did you buy a few months later when the site was nearer to completion?

there's soooo many factors that could affect the purchase price, there's really no point worrying about it. i paid the absolute ceiling for my house and at the time i was narked, but i loved the house so it didn't really matter. were their sales around the same time if it was new build? if so, there's nothing really you could do (land registry takes 3 months to list a sold price), but there's no harm in researching in future. nearby comparables, local agents opinions etc. if you bought off plan then someone buying when they're completed will pay more again to what you paid.

if you love the house, don't worry about it, just enjoy it!

[Eve]

Often developers give discounts or other incentives such as gifted deposits, paying stamp duty etc...

It is possible that investors could have bought them at a reduced price for buying more or they managed to negotiate a much better discount or other incentive which bought the price paid for the property down.