Pre-construction or newly built properties are the current home of choice for many homebuyers, owing to the modern features and the capacity to modify the home during the construction process or turnover as reasons for preferring the new build. There’s also the use of energy-efficient supplies and structures to maximize the appeal.
Still, it’s important not to overlook some key details that you should know before making your final decision.
Buying into half-finished developments. Many property developments out there are currently half-built. Keep in mind that while you may be getting a great deal, there’s a very slight possibility that you may be purchasing a property in a development or community that may never be fully built.
This is why it’s important to acquire your investment from stable home builders like Lendlease, which currently have houses for sale Illawarra and many other locations. Buying a home from successful home builders, even in half-finished developments, will give you peace of mind and protection against being stuck with an unsellable house in the middle of an unfinished community.
Being misled by picture-perfect model homes. You’ve seen this in magazines, property ads online or offline through brochures and flyers. The secret of home trade are salespeople showing you model houses without you actually seeing your actual unit or home. Those models are always dressed and decorated to look amazing. The developers and designers employ all kinds of ‘magical’ techniques to make it look bigger than it is.
For example, bedrooms usually have double-sized mattresses rather than queen-sized ones. What you can do is actually visit the property and imagine yourself living there in the future.
Following the style of the model home. Some builders often use a technique in their model homes to give them more ‘flow’ when they remove some of the interior doors between each room to give it a much greater feeling of space and an open floor plan. You won’t normally notice this, so don’t let it trick you. What you can do is to consider the space when the doors are on the hinges and shut closed.
Not knowing the inclusions apart from upgrades and extras. What’s this extra? Ask the builder or find the upgrades – what is or what’s not included in the quoted home price. For instance, you may believe that you’re getting a great deal, but what you didn’t know is that you won’t get a finished basement or the gourmet kitchen. And that walk-in shower? Not included as well. Once you start adding those elements, the price can skyrocket from cheap to out-of-your-budget.
Not getting a completion clause. When will the development be finished? When purchasing a home in a new construction, you’ll be at the mercy of the builder’s timeline. What is the date of completion of the house? Will it coincide with your requirements? Ensure that you get a cancellation clause or a refund of deposit clause if the builder does not live up to the specified promise date.
That’s it! Of course, You shouldn’t bypass the inspection process. It’s a good idea to have an expert eye check the entire property as it’s being built. Get someone who can understand and identify potential issues, so it won’t surprise you later. It’ll be a money well invested. Best of luck!