Purchasing property off the plan

If you decide to buy off the plan here is some wise advice to take on board:

• Choose the right location: Choose an area where there is a demand for property but a current undersupply - this should help boost your property's value over time.
• Suss out the developer: Make sure they have a good reputation and a sound track record - go and see other projects and talk to their previous clients.
• Examine the plan: Make sure you obtain a professional opinion on the plans to ensure they are satisfactory. If you can't find an architect, talk to a builder or a seasoned investor for a second opinion.
• Do your homework: Find out what's in the pipeline for other developments in the area - other projects could help or hinder your potential for return depending on what's planned.
• Know what you're paying for: Thoroughly examine the schedule of finishes and make sure everything is detailed in the contract - leave nothing to a verbal agreement.
• Read the fine print: Have the contract examined by a legal professional before signing on the dotted line.