Reply To: Buying off-plan

#58115
Anonymous
Participant

There are many clients that dived in to the “off plan investment ” game without I have to suggest,exercising due diligence and research. Property is not a short term investment vehicle as generally those who try to take a short term outlook end up being dissapointed.
View your purchase with a mid to long term outlook and you should do fine. Only opt for an off plan purchase if you have the means to complete that purchase.
With regard to discounts,it is still a very good way of locking a property below the price of an equivalent finished unit and this then represents in real terms a discount. Looking for developers to knock a little off the price for you is next to unheard of!
However before placing any deposit,do not just go on what your real estate guy or the developers own sales staff tell you.Do some research,compare the quality specification and NEVER put money down on anything without the relevant licenses actually being in place. “Expected soon” or other warm phrases are meaningless believe me. Do not be pushed in to parting with your cash based on the line,”These will rocket in price when the license is issued”
if you ignore the above advice,just consider how much of the money you could part with are you happy to lose in a worse case scenario?