Buying off the plan: What you need to know

Buying off the plan - SOLD real estate image with keys

Buying a property off the plan can be a cost-effective option when choosing a property for the first time. You have the luxury of new and modern, without the lengthy administration process of building the home yourself. There are a few things you need to watch out for though, or example; reviewal of contract and making sure that everything is in order before you put your deposit down, double checking plans and making sure things are done when they should be done, how they should be done. And of course, the neighborhood, as you really won’t know who you’re going to be living near or how this may impact your life.
Of course, the price is fixed, and the deposit may be small, but failure to oversee the above might cost you in the long run. Check out this video for an example of what could possibly go wrong…

Half a house! These kinds of things don’t happen often, but they can and may happen if you place too much trust in a builder without outsourcing help from third party companies. Recruiting the assistance of a third-party inspection company, is just one way of avoiding huge mistakes like this.
This would normally have been picked up by one of our inspectors. All our inspectors take a look at the plans in the first initial stages of your build. Only building half a duplex would have been a huge defect in one of our reports!
Secure your decision and protect your future, call 1300 470 805 to find out more.

Owner Inspections has off the plan pre settlement inspections services available in NSWVIC and QLD.


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