Adrienne Hersch, CEO of Adrienne Hersch Properties reports brisk trade in buying properties off-plan, but advises home owners to do their homework before acquiring their new home or making a property investment.
“Buying properties off-plan remains in firm favour with consumers, but buyers are well advised to do comprehensive research on developments before committing themselves to what will be a significant investment. A good investment in off-plan developments can yield significant returns of as much as 20 to 35% of an increase on the original investment if you’ve done your homework correctly,” says Hersch who explains that buying off-plan simply means investing in property and a new home before it has been built by perusing drawings and architectural plans.
Adrienne Hersch Properties has earned a solid reputation for managing and marketing off-plan developments in the
Hersch says that the
Another benefit of buying off-plan is the affordability of putting down a 10% deposit and the delay in bond repayments which usually only come into effect 18 months to two years after the initial investment in the case of sectional title developments. Hersch explains that Sectional Title Ownership means that the buyer owns their own unit (a section), and in addition is afforded ownership of a undivided share of the land and common property of the complex. “Sectional title offers home owners an opportunity to save on bond repayments, as payments only become effective after the transfer is complete”.
“Always check the credentials of the property development by seeing what other off-plan developments they have done and getting advice and word of mouth recommendation. Reputation is everything when it comes to buying off-plan,” says Hersch.