Things to Know Before Choosing Off-The-Plan House and Land Packages

13/11/2020 . By Champion Homes

Buying off-the-plan house and land packages involves signing a contract to purchase property that is yet to be built. Since there is no actual property to check or inspect, off-the-plan buyers depend on the developer’s plans and artistic renderings of different home designs that show how the finished property would look.

This approach carries both benefits and risks, so keep the following in mind before you commit to buying off-the-plan house and land property.

Off-the-plan house and land packages – benefits and risks

Some property buyers prefer to take the off-the-plan route as it offers the following advantages:

When you invest in any property off-the-plan, whether it’s single detached house and land packages, duplex homes or apartments, you’re also putting your faith in the developer’s ability to stick to their side of the bargain.

However, aside from the risk of having to depend on the developer to get the property built, there are other risks to consider. These include the following:

Be sure to find out about the builders selected for the project. You need to ensure that they are specialists in their field. For example, if you’ll be investing in off-the-plan duplex property, it’s important for the building partner to have an excellent track record in duplex building, so you’re assured of the final quality. This way, you can maximise your block of land and your investment.

Steps to take when buying off-the-plan

Now that you’re aware of the benefits and risks concerning off-the-plan property, you can take the following steps to secure your own.

After this, you can check for work progress from time to time. Some developers also publish construction updates on their websites so that buyers are aware of how building work is going.

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