Hi Everyone,
Can anyone give advice on purchasing units off the plan, any pros/cons?, things to watch out for?
many thanks
pfpYes be careful to make sure the prices are the same if you had to on sell it check out simular projects in the area and compare prices
Monopoly, my favourite game
yes Rikky, my thoughts too
what happens when there is nothing similar in area for comparison?
look at closest suburb?
also how many new developments in any one area is considered too many?Were is it? I know in Melbourne at the moment you can pick up some really good deals of the plan because the market is slowing down and some develpors are a little desperate
Monopoly, my favourite game
hi pfp
ring your broker get a lender you are happy with.
find out a valuer on that lenders panal.
ring the valuer and get them to value the unit when complete.
once you have the value us this to start your bargaining.
I don’t sell of the plan for this reason it only devalues your end product.
the value from the valuer is 550,000 then go to the developer (hope this isn’t in syd) and offer 480.000 and see how you go, I wouldn’t but alot will accept.
dazzlings going to hate me but pm me if you wish.
I think in this market you can negotiate a better deal then buying off the plan.but all to their ownhere to help
I concur with other posts, but remember in addition to the completed value, presuming you will hold for a time and rent out, research earning potential. If in a large development they will probably all come onto the rental market at the same time so may have to wait a little longer to let. Look to offer or add something to differentiate from the others to let quicker with opportunity for better income. keep your eye on during construction if possible to ensure your getting what you commited to – easier to correct issues/problems, if any, whilst under const than when completed. Should get better value if buy prior to const commencing.
in my view still good deals to be had OTP if look and wait.
All the best.g’day,
I have recently bought off plan, in Dubai. I had heaps of doubt also, but some advice I got was..
Research the developer, ask if they can give you previous customers contacts, or locations and go and knock on their door,
What are some of the exit fees, incase you cant make ithe payments ( just in case)
Check and get in writing all of the fixtures, bencsh tops, taps etc. sometimes they will put in the cheapest things, cause you agreeed to the floor plan, Can you sell before completion?Good luck,
JASE
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