New Real Estate Projects - What to consider before you buy

Rectangle_large

Posted on: 06 November 2018 by Dan Henderson

What to consider before deciding whether buying in a new off the plan project is right for you.

These days buying property in new off the plan residential projects is becoming a more and more common practice for a lot of end users as well as investors.

There are many reasons behind this trend but a few in particular which are the biggest drivers. Now more then ever it’s increasingly easier to buy in a new, never before seen project. Thanks to the use of new technology, buyers can see 3D renders and simulations of the property they are considering. This is, in turn, making buyers more comfortable with buying something they can't feel or touch as they no longer need to visualize what the end product will look like. 

Outside of this buying off the plan property also offers a far more affordable way to enter the property market. This is due to the fact that buying off plan only requires a 5% deposit with the remaining payment due during and in some cases 2 or 3 years after handover.

So, before you purchase property off the plan, there are a number of very important questions you need to consider and ask first to ensure you buy exactly what you intended. Let's have a look at some of those questions in more detail:

What exactly is a new off the plan project?

A new off the plan property is a property which has yet to be built, or is currently under construction. Most of the time when buyers buy off plan the only tangible aspect they can see is the property plot/location.

Are there any dangers in buying in a new project?

Buying in a new project is a very safe investment choice but that’s not to say you still don’t need to do your due diligence.  Just like with any financial investment it is important you do your thorough research first, know who you are buying from and exactly what you are buying. Talk to previous customers and take a look at previous project delivered by the developer you are considering buying from.

How do I pay for a new project?

Buyers of new residential projects typically require a 5% deposit to secure the property. Once the deposit is paid there remaining payment due will be paid during the construction period and in some cases a number of years after actual handover.

Are there any ongoing fees that I need to know about?

Outside of the costs associated with the purchase of your apartment or a villa there is one other ongoing fee you need to keep in mind. This is often referred to as a maintenance fee and as the name would suggest is a fee paid towards the upkeep of the building and common facilities. The maintenance fee applicable is calculated based on the property size and will vary from one development to another. The more facilities there are the higher the maintenance fee will usually be.

What are the advantages of buying in an off the plan project?

There are a number of unique advantages of buying an off the plan property. Firstly, they tend to be better priced when compared to an established property. Secondly, the process of buying an off the plan property is much more simple than buying a ready property. In fact, the whole transaction can be done online in some instances.

Whether buying off the plan or not is the right thing for you will really depend on your personal circumstances and investment goals. Either way, it pays to ask the right questions which will not only help you make the right decision but also ensure your next real estate investment is a positive one.

Share with friends



Do you agree with this Blog? Agree 0% Disagree 0%
You need to be signed in to rate.
Profile_user

Harriet Simpson posted 07 May 2020

It was interesting to come to this post, I got to know a lot about real estate. I actually want to sell my house providence ri so I really think that the content here can be useful for me. I am really pleased to know about this post.

Profile_user

pauleen yangzon posted 22 June 2020

Just like in Toronto, Ottawa is starting to be known in the world of real estate too. I’ve read  paperhelp reviews that says that Ottawa is the next big thing!  Well, that prediction was quite dangerous and vague, but sometimes we need to believe in predictions because they might be saying something factual once the right time comes! 


Profile_user

Rylee Warren posted 04 July 2020

Considering these things is vital before you go on and invest in one of the tropicana-grandhill.com real estate projects. If you feel like the project is violating any of these things, then you should back out immediately.

Profile_user

Muhammad Hasnain posted 24 July 2020

This article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article. Kratom For Sale

Profile_user

Muhammad Hasnain posted 26 July 2020

The cast pump parts we offer includes: cast pump body, impeller casting, pump housing, pump mounting bracket, as well as other pump castings https://dawangcasting.com/carbon-steel-casting

Profile_user

Muhammad Hasnain posted 30 July 2020

I have recently started a blog, the info you provide on this site has helped me greatly. Thanks for all of your time & work. ccna training london

Profile_user

Muhammad Hasnain posted 03 August 2020

I visit your blog regularly and recommend it to all of those who wanted to enhance their knowledge with ease. The style of writing is excellent and also the content is top-notch. Thanks for that shrewdness you provide the readers!  indian visa for uk citizens

Profile_user

Muhammad Hasnain posted 19 August 2020

I would really suggest you all to check these digital billboard advertising cost

Profile_user

Muhammad Hasnain posted 20 August 2020

You know your projects stand out of the herd. There is something special about them. It seems to me all of them are really brilliant! voyance gratuite

Profile_user

Muhammad Hasnain posted 31 August 2020

Internet marketing company specializing in digital and online marketing. Get more leads with website marketing and local internet marketing services. marketing 1 on 1

Profile_user

Muhammad Hasnain posted 03 September 2020

Learn about kratom for sale and where to buy the best maeng da kratom capsules for wholesale. Kratom powder

Profile_user

asad azeem posted 04 September 2020


Everything is very open with a very clear explanation of the challenges. It was truly informative. Your website is very useful. Thank you for sharing!   esenyurt günlük kiralık ev

Profile_user

Muhammad Hasnain posted 04 September 2020

thanks for the tips and information..i really appreciate it.. bandar togel terpercaya

Profile_user

Muhammad Hasnain posted 05 September 2020

It is included in my habit that I often visit blogs in my free time, so after landing on your blog. I have thoroughly impressed with it and decided to take out some precious time to visit it again and again. Thanks. biggboss14-tv.com

Profile_user

Muhammad Hasnain posted 05 September 2020

Great write-up, I am a big believer in commenting on blogs to inform the blog writers know that they’ve added something worthwhile to the world wide web!.. buy weeds online

Profile_user

Muhammad Hasnain posted 09 September 2020


We are offering all sorts of moving facilities at affordable prices. moving company denver co

Profile_user

Muhammad Hasnain posted 10 September 2020

Your quick approval is our first opportunity to show you how we’re a better fit for your business. high risk credit card processor

Profile_user

Muhammad Hasnain posted 10 September 2020

I have read your blog it is very helpful for me. I want to say thanks to you. I have bookmark your site for future updates. Lahore escorts

Profile_user

Muhammad Hasnain posted 11 September 2020

Very interesting blog. Alot of blogs I see these days don't really provide anything that I'm interested in, but I'm most definately interested in this one. Just thought that I would post and let you know. דירות דיסקרטיות בתל אביב

Profile_user

Muhammad Hasnain posted 12 September 2020

Moving away from disposable personal protective equipment is crucial if we are to avert a COVID waste crisis, and it starts with individuals like you and me choosing cloth masks over disposable ones. Let’s not allow a health crisis to turn into an even bigger pollution crisis. Feel free to check out the RN5 Reusable mask right here: https://bit.ly/33wijnt

Profile_user

Muhammad Hasnain posted 15 September 2020

I am happy to find this post Very useful for me, as it contains lot of information. I Always prefer to read The Quality and glad I found this thing in you post. Thanks https://sites.google.com/site/capsiplexwheretobuy/

Profile_user

Muhammad Hasnain posted 15 September 2020

hi was just seeing if you minded a comment. i like your website and the thme you picked is super. I will be back. https://raisetwice.com/improvement/how-to-lose-10-pounds-in-2-weeks/

Profile_user

asad azeem posted 14 October 2020

Very interesting blog. Alot of blogs I see these days don't really provide anything that I'm interested  

apartments for sale in business bay

Profile_user

liz bee posted 16 October 2020

thanks for sharing this www.eyelashextensionspittsburghpa.com



Do NOT follow this link or you will be banned!