Benefits of Buying Off-Plan
The property market is growing, and more new developments are opening up across the country. This is the perfect time to buy a new-build property, and there are a number of benefits to getting in early and buying off-plan. However, it’s also essential that you know exactly what you’re doing so you don’t run into any issues.
Developers want to sell the properties as quickly as they can, in order to free up finances for the scheme. This means that there are often deals or promotions you can take advantage of when a development first opens. This could include the developer paying your deposit or providing other services free of charge and the inclusion of additional items, such as fitted carpets or integrated appliances. If you buy early on in the scheme, you will also be able to secure a property at the current market value rather than waiting for house prices to rise further down the line.
Choose the Fittings
There are certain areas within a new-build property that you can make decisions on if you buy early enough. For instance, it is possible to select the style of kitchen or the designs of the tiles. However, once a property gets to a certain stage, all these will have already been allocated. Then you will have to accept the items that have been chosen.
Choose the Location
Usually developments consist of a range of different sizes and styles of properties, ranging from smaller starter homes to more substantial detached properties. At the start of the process, there is a wider selection available and you can choose the right one for you —maybe one with a steel spiral staircase. It’s also possible to pick the location, so it has the most suitable positioning. This could be a more secluded house or one with a slightly larger or better-shaped garden.
How to Buy Off-Plan
Before you commit to a property, you need to make sure you’ve done your research. Check out reviews of past schemes from the same developer, and find out any issues previous customers have had.
View a show home before putting down your deposit. There might not be one for your style of home on the development, but they should have one available locally that you can visit.
View the property before completion, so that the developer can fix any problems and you can ensure everything’s been included.