Top 5 Considerations When Buying Off-The-Plan

Buying property requires thorough research to ensure a wise investment. One crucial aspect of this process is assessing developers, as their reputation and practices significantly impact the quality of your purchase. Here are the top five factors to consider when buying an off-the-plan property:

1. Research the Developer's Reputation

   The reputation of the developer is paramount in off-the-plan purchases since you can't inspect the finished property before buying. Engage with developers who have a solid track record. If the developer is new or has a limited portfolio, investigate their background and collaborators, such as architects and builders. Lack of transparency or minimal information should be a red flag.

2. Align Expectations with Reality

   Before signing any contracts, understand the features, amenities and location of the property. Online descriptions are helpful, but visiting a display suite offers a tangible experience. It allows you to assess the quality of the apartment and its surroundings. Developers who don't offer display suite visits may have unfinished plans or may not prioritise buyer satisfaction. At Norus, we provide on-site display suites for a firsthand experience of the apartment and its neighbourhood.

3. Prioritise Communication

   Effective communication is key to a strong developer-buyer relationship. Regular updates and responsiveness show a developer's commitment to transparency and customer satisfaction. At Norus, we prioritise transparency through regular blog updates and social media engagement. Our dedicated sales team ensures prompt responses to inquiries, fostering trust and reassurance.

4. Evaluate Owners Corporation Fees

   Owners Corporation (OC) fees cover amenities and maintenance costs. Assess the efficiency of the OC and the value provided by the included amenities. At Norus, we focus on practicality over unnecessary amenities, ensuring residents have access to desired amenities without incurring high fees.

5. Trust Your Instincts

   Trust your instincts during the purchasing process. If something feels off, investigate further and seek clarification from the developer. Thorough research can lead to a rewarding investment.

When buying an off-the-plan property, careful consideration of the developer's reputation, property features, communication practices, OC fees, and your instincts is essential. By doing thorough research and trusting your judgment, you can make a well-informed investment. Happy house hunting! For more information on Norus Projects developments, fill in the form below.