I recently took the mickey out of developers selling
cars….. I mean houses. I have earned the right to as I have been in those
discussions and if anyone cares to remember I publicly launched and advertised
the most elaborate incentive package the New Zealand market ever had. It went
something like this.
10k for furniture
Mortgage paid for six months
5k holiday.
But of course our purchase price covered it. I did this to explain to a
‘select’ group of people, what a complete waste of time these incentives are.
You want it sold, just reduce the price. Buyers are not that thick, to think
they are getting a free car -I hope. Banks don’t really want you to load up
your mortgage with a vehicle. Valuers won’t take the bait. Timeshare tactics
are so 1985.
Simply deduct the developers cost of the car from the purchase price to deduce
the actual market value and offer them that for the house (assuming that is not
still above market value). Then buy a used car. Here is some analysis. You are
welcome!
Or am I misrepresenting the marketing trick of the century and doing these agents
and developers a gross disservice?
