Buying off-plan is common in South East Asia. Many projects sell all their units before the foundations have even started to be dug. Securing a property off-plan has it benefits – the price can be more appealing, you have greater choice in the unit and you may get the option to customise the unit. However, the concept may seem daunting to some who are used to seeing and ‘feeling’ a property. Follow our top five tips to make the most of purchasing a property that is yet to be built.
1. Get in early
As the saying goes, ‘the early bird catches the worm’ and this is certainly true with buying a brand new home. Not only are the best deals usually offered at early stages of the build, but purchasers will also be able to ensure that they secure their pick of the plots.
2. Do your homework
Make sure you study the drawings and plans carefully. Check the dimensions to make sure your existing furniture is appropriate. Regularly visit the site with the sales advisers as build work progresses to ensure nothing has been added or left off the plans.
3. Make your house a home
One of the major advantages to buying off-plan is the ability to choose some of your own fixtures, fittings and finishes before you move in. These could include aspects such as kitchen units, flooring and fitted wardrobes, giving you the chance to really personalise your home. What’s more, it will all be professionally fitted before you move in.
4. Bide your time
Whoever said you can’t buy time? Once you’ve bought off plan and paid the reservation fee, use your time wisely to ensure everything is in place for your move; arrange your mortgage, book the removal van and inform people of your new address to save you a job once you’ve moved in.
5. Think ahead
Try to imagine what the area will be like when it’s finished. Will there be any more phases to the development or are there any new amenities planned in the local vicinity? Continued investment is a good indication that an area is on the up and that your property is therefore likely to experience capital growth.