Negosentro.com| 3 Step Guide To Buying Off The Plan In Perth | Whilst buying off the plan and building your own home can be an exciting and rewarding prospect, it can also be confusing and unnerving, especially for first time buyers. So, to help you make the best choices moving forward, here’s a 4 step guide to buying off the plan in Perth.
1) Know what you want
There’s an endless list of developers and sites to choose from, so before you commit to anything, you need to have a clear idea in your head of what you want.
Perhaps the first thing to consider is location. If you plan to live in the property, you need to consider its location in relation to your workplace as well as public transport options and local amenities. This is also key for those looking to invest in a property as any future buyers or renters will be considering the same factors.
As for the layout and contents of your house, you should have a clear idea of what you want before you commit financially. Make a list of what you want and what you don’t want. Separate your wants list into two categories: desirables and non-negotiables. This will help you to get a better understanding of what is important to you, what you are willing to compromise on and what is an absolute must-have.
So for example, you may absolutely need three bedrooms and would prefer a driveway and front garden. But, if you found the perfect lot which only allowed space for a driveway and a rear garden, it wouldn’t be a deal-breaker. Ironing out these thoughts and issues early on in the process will help make everything easier as you get further down the track.
2) Find the right developer
There are all sorts of legal, financial and logistical implications to buying off the plan, but if you find the right developer, the entire process will be a lot easier. Do your research and make a shortlist of the best real estate developers in Perth. Then, take your time to research and explore their current sites and projects. Be sure to take a detailed look at their previous work too. Check whether they delivered the project on time and if there were any issues or complications. If possible, try to get some feedback or recommendations from previous buyers. This will give you a better idea of how the developers will handle the entire construction process as well as what you’ll get as a finished product.
Wherever possible, you should go and visit sample homes by the developers. If they have some completed homes on the site you’re considering, then book a tour. If it’s early in the project and no such option exists yet, then ask to visit one of their previous developments. This again will help give you an idea of the kind of quality the developers can deliver.
3) Get legal and financial advice
We’ve already mentioned that building your own home can be a complicated process with lots of paperwork and legalities. As a first time buyer, you’ll understandably be a little confused and possibly even a little overwhelmed by these things. And whilst you might be tempted to save some cash by doing everything yourself, it’s within your interest to enlist the services of legal and financial advisors to help you through the process.
A mortgage broker can help you to understand exactly what you can afford to buy and how to manage your money in relation to building the property. Meanwhile, a reputable conveyancer or lawyer who has experience with off the plan contracts can help make sure that you understand exactly what you are committing to.
Conclusion
Buying off the plan is an exciting but long process. It can be confusing, time-consuming and full of twists and turns. There are endless factors to consider and a variety of issues that could crop up along the way but by taking the time to properly research your developer, get professional legal & financial advice and a clear idea in your head of what you want and need, you’ll be well on your way to making your dream home a dream reality.
