Gazundering - the new property craze

Gazundering is back

The recent down-turn in the property market is revealing some of the steps buyers will go to, to get the property they desire.

One property owner has told me she was asked by her purchasers to drop by £7,000 on the day of exchange of contracts and risk the loss of the sale, which she did - so now the property is back on the market.  Unfortunately this caused a great deal of stress for the owner as she had already packed up and was ready to go.

Unbelievably, builders are now themselves being hit by this menace - where buyers are gazundering after they’ve exchanged contracts.  People who’ve bought newly built homes are threatening to walk away at the last minute, losing their deposit in the process, but perhaps saving themselves from the threat of negative equity further down the line.  When buying off-plan, you may have to wait 2 years before the property is built, a time when you are looking for appreciation in the capital value of the property.

This is an unusual case because if you withdraw after exchange of contracts not only do you lose your deposit but could also end up in court for breach of contract.

Are you a victim or a perpetrator of gazundering?  Tell us your story.

Coast, Hove

Show-home Hannah’ went back to Hove this week, and went to the  show-home of …

This week: Belmont Homes, Coast, Hove

Brighton & Hove is a vibrant seaside city offering long pebbled beaches, two piers (one which is no longer accessible) fabulous shopping amenities, restaurants, coffee shops, bars and leisure and entertainment facilities which give this area its buzz. 

As is the case with many cities, there is a wide range of property available from five bedroom detached houses, which are generally found on the outskirts, and studio apartments creeping in at the centre.

I need access to trains for my work, and I was pleased to see that Hove Railway Station is within walking distance.

But what was I to find on my visit to Coast? The position of this new development of 40 studio to 3 bedroom apartments, is very convenient with easy access to the seafront, to main roads and to the city centre.  All south facing apartments from floor 2 upwards have a sea view.  The exterior design is modern with a vast opportunity for natural light through the large windows and balcony doors to some of the apartments.  Coast offers landscaping to the front to greet visitors and homeowners with an array of aromas as well as a communal courtyard which will include trees, shrubs and a water feature.

Luckily, I had done my research before I set off as there was no indication of signs directing me towards the new development.  However, I could hardly miss the site when I was close-by.  Fortunately, there was space in front of the development for visitors to park for free; leaving me to feel relaxed that my car wouldn’t be found by the ticket wardens!

I wandered into the sales office – it was spacious and had some informative boards hung on the walls about the development which even included a flat-screen television displaying the surrounding area with calming background music.  I loved that they provided a sofa, understanding that home buying can be tiring, with a suitably hung picture of what is on view from some of the apartments.  I was greeted by the sales consultant, who turned out to be filling in for the regular member of staff currently in training.  She offered a brief “Hi”, to which I responded by giving her my requirements.

I was accompanied by the Sales Consultant to view Plot 27, a two bed apartment.  First impressions?  Lovely large entrance hall, video phone entry, good size master bedroom with en-suite, bedroom 2 was on the small side, and the kitchen size was immaterial as I’d be visiting the many restaurants along Church Road.

If you’re thinking of visiting Coast, hurry as 12 units have already been sold since it opened in March…

What you get for your money:
Prices from: 

£199,950 for a studio …
£225,000 for a one bed …
£275,000 for a 2 bed …
£525,000 for a 3 bed …

Location, location, location:
Only a 5 minute walk to the beach, short journey by car or bus into the centre of Brighton & Hove - which also is in walking distance. Few minutes walk to local shops and Tesco plus many restaurants and bars to choose from, all of which are within easy walking distance. 

Best feature:
Private underground parking, lifts from the parking area, modern interiors, wired for surround sound and entertainment network.

Worst feature:
Will parking be a problem for households with more than one car?

Contact the show home from 10.00-17.00 7 days a week on: 01273 746392

• Location:                          7 of 10 (easy access east and west)
• Product:                            7 of 10
• Sales Negotiator service:  4 of 10 (didn’t ask my details to follow-up)
• Value for money:              Good

Overall: Easy access by car and bus, local amenities and restaurants close by 

Have you visited Coast, Hove?  Do you agree with our ‘Show-home Show-case’?  Post Your Comments.

Legal disclaimer: The impression expressed by “Show Home Hannah” is purely based on their genuine opinion and subjective experience on the specified development site visits. They are based on only as their opinion of what they have encountered and should not be read as a judgement of the business or the employees involved.

New Fragrance for Men - ‘Apprentice’

We love Lee McQueen - ‘Apprentice’

Our family knew instantly what the name of the men’s perfume should have been in last night’s final on BBC1 - ‘Apprentice’.  Instead ‘Roulette‘ was the chosen name and we responded with a loud ‘Eau - Dr No’, having watched the advertisements produced by the finalists on the James Bond theme.

Lee McQueen embodies everything about what Sir Alan was looking for - someone ready to learn - about life and love, the world of business and connecting with all kinds of people, a playful puppy ready to learn the ways of the world.  

The true sense of apprentice means an individual whose primary reward for labour is the opportunity to learn a trade. Taken from the Latin verb ‘apprendo’, meaning ‘I seize or apprehend’, it is used to describe someone whose primary reward for labour is the opportunity to learn a trade, bound to an established ‘craftsman’ for a specified period of time and paid a modest salary but with a six figure sum on the table, we think this is a more than generous apprenticeship …

Apprenticeships are still being offered and we’d like to hear whether you’ve been through this process, what benefits it provided and your experiences.