Written by Peter CarterSeptember 5, 2016
Purchasing off-the-plan property shouldn’t be taken lightly, if you whimsically sign a contract there’s no turning back. Below is a property guide to help steer you in the right direction.
Get legal advice
Purchasing off-the-plan property involves a much different type of contract and it’s definitely worth your time to go over it with a lawyer. Finer details and clauses left out are so easy to miss but can make a big difference in the long run.
It’s also good to know what you’re getting into so put your detective hat on and do you research on the builders and developers. Find out who they are, their past and present projects as well as the feedback they’ve received. Just like when you go on Yelp to see if that fancy restaurant is all that it’s cracked up to be!
Timing is everything
Make sure to be aware of time frames, especially sunset dates, something that might be longer than usual may be a warning sign.
Research the area
Get to know the area you are buying in, understand the demographic, transport, employment growth and current and future infrastructure projects. You’re not just investing in an apartment or house you’re also investing in the suburb.
Purchasing off-the-plan may be risky, but if you keep these things in mind you could end up with a pretty sweet deal.
If you have any questions on this property guide or need advice please call us anytime on 07 3210 3437.