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A convenient solution to a new Build!
A convenient solution to a new Build!
Pros & Cons of an off-plan approach in a nutshell
Pros & Cons of an off-plan approach in a nutshell
Buying a house off-plan offers many advantages from financing to practicalities. To start with, it is less expensive than buying a house at completion. You do not need to worry about legalities, planning and building permits, road access, water and electricity supply. This pertains to the Development, therefore already sorted out when the property is advertised, and it is part of the deal. Additionally, you benefit from the Developers' experience and resources, such as architects, engineers, builders, as well as their network of retailers which are able to supply quality products at a better price than what you could get on your own. Most importantly, you have a base to start your customization project with architectural plans and a fair view of what the property and its surroundings will look like at completion.
The main downsides of an off-plan approach are the discrepancies between specifications and reality, as well as uncertainties around schedules. Buying off-plan means you are purchasing a property based on advertising materials, mock-ups and high-level floor plans. The model properties are displayed with arrangements that are generally not part of the standard options, and they may look bigger, brighter and better positioned than what they actually are. Moreover, there are unfortunately unscrupulous Developers and Builders who use low-cost materials and construction techniques to speed up the process and make savings. Schedules can be impacted by unexpected issues in supply chains, unpredictable weather conditions and other unforeseeable factors that you will need to deal with as they arise.
Buying a house off-plan is a convenient solution to a new build. What is essential is to assess the history and reputation of the Developer.
You can choose a hands-on or hands-off approach
You can choose a hands-on or hands-off approach
The off-plan concept offers the options of a hands-on or hands-off approach, depending on how much you wish to get involved to personalize your property.
Customizing a home involves many choices, your input is needed for everything outside what is purely construction, making the journey from concept to completion exciting if you enjoy the process, or daunting.
If you choose the hands-off approach, the Developer will simply select items part of the standard package for you. This approach works best when the original plans are kept as is, because the alignment across the different elements that is needed when plans are changed may be overlooked.
You are embarking on a journey that requires imagination, practicality and creativity
You are embarking on a journey that requires imagination, practicality and creativity
The off-plan approach allows you the unique opportunity to make adjustments to home plans to suit your needs and have your property reflect your style.
When you buy in advance of construction, up until the foundations are built, you can influence the layout and design of your home and incorporate particular equipment or features, with or without extra costs.
Developers are usually open to include your specific requirements during construction, if you agree to bear the added charges, and provided that it is feasible without disrupting the build or affecting the title deeds. It is more a matter of discussing these features at the right time, so that the requirements for their installation are incorporated into the build.
If needed, rework is always possible in construction, but there are costs, delays and risks of broader damages attached to it. And correcting things you do not like when the house is new doesn't make much sense. Its better to engage in the process and be proactive.
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