select
|

Take care to get the best off-plan deal

“The first precaution you should take, of course, is to deal only with a reputable developer or builder who is known for producing quality homes - and whose product’ is there for all to see in other, completed projects,” says Berry Everitt, MD of the Chas Everitt International property group.
.
“Secondly, you need to ascertain exactly what it is that you’re buying in terms of floor space and finishes, and that everything is clearly specified in your building contract.”

Writing in the Property Signposts newsletter, he says it is not uncommon for developers to build a show unit that is bigger or better finished than those being offered off-plan.

“And in some cases, you may find that the advertised price of units actually excludes the cost of finishes.”

So when you’re “shopping” for an off-plan home, he advises, you should not be embarrassed to ask the salesperson precisely what is and is not included in the advertised price. Then, if you're interested in upgrading to more or better finishes, ask how much it will cost for the developer to make these changes.

“The third thing to consider very carefully is finance. It is often a good idea, especially if you’re on a tight budget, to use the developer's lender, which has already approved the project. Not only should it be easier to get loan approval, but you may even get a special loan package.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK