search
  • How using a Buyers Agent can help you avoid the pitfalls of buying off the plan

    Buying off the plan has become an appealing and realistic option for Australians looking to buy their first home. For many it’s the promise of a newly built home. Others like the fact that these houses are in newly-developed areas with plenty of potential for growth. It sounds too good to be true. Sometimes it is. 

    Many things can go wrong when you decide to buy off the plan. What you’re promised in the 3d-rendered imagery isn’t always what you get. There’s also been many horror stories associated with off the plan properties. Some never get finished when property developers fold. Other houses simply don’t get built to the high standards that they should be.

    Shocked homeowners have been appalled when they realise they’re new houses lack some of the basics. You may have seen these houses featured on news stories. Some end up having rooms with doors that don’t have enough space to open. Then there’s houses made with the cheapest and most unreliable materials available on the market. 

    What to look out for

    While the cost of your off the plan property may seem cheap. Don’t be too confident about the costs involved. This property type has a habit of revealing it’s true costs after you’ve already signed on the dotted line. Here are just some of the pitfalls to watch out for:

    Owners corporation fees

    The developer may create an Owners Corporation for your property and surrounding ones built at the same time. This locks you into a long term contract that requires paying exorbitant fees to help manage the complex. 

    A slow rise in value

    If you’re looking to turn your off the plan property into an investment property there’s a few things you need to consider. Apartments bought off the plan can take up to a staggering 7 years to reach the value of their original purchase price. So you may not be able to increase rent or make a profit out of selling it until at least ten years. 

    Low rental return

    It’s common for an off the plan property to be built at the same time as others that surround it. The downside is that all of these properties tend to be similar. When you’re looking to rent this property you’ll discover it’s hard to raise the rent because so many other properties around it may stay at the same low rental rate.

    Getting locked into an imbedded network

    Your developer may end up making your property part of an imbedded network. This may force your property and the ones around it to be locked in with the same utility suppliers. So your property could end up being stuck with higher than average utility costs. This setup also sees the developer receiving the difference between what the average household would pay and what you pay the utility supplier. 

    How a Buyer’s Agent can help

    We’re not saying all off the plan properties are bad options. We just wanted to point out the bad things that can happen when builders don’t deliver what’s promised in their marketing campaigns. But there are plenty of ways to safeguard yourself from the pitfalls of buying off the plan. One of the best ways to protect yourself is using the professional services of a Buyer’s Agent. 

    A Buyer’s Agent can help you find the perfect off the plan property. Are you looking for short or long term returns for your new property? A Buyer’s Agent can factor in all of your preferences like this. Another advantage is that a Buyer’s Agent can help you identify unique property options from a collection of new off the plan houses. It’s often the more unique properties that can increase in value before the others around it do.

    So before you consider buying off the plan, think about talking to the experts. Property professionals like Buyer’s Agents are usually experts in their chosen suburbs. They know how to identify a bargain and find properties that perfectly match your preferences. 

    Ready to buy off the plan? Learn more about the process by visiting wiserealestateadvice.com

    13 Stores Like IKEA for Stylish and Budget-Friendly Furniture and Decor

    Looking for IKEA-style furniture with different vibes, price ranges, or convenience? These 13 alternative stores offer modern, functional, and budget-friendly pieces perfect for any space. Store Style Focus Price Range (USD) Product Types Shopping Experience Amazon All styles (varied brands) $20 – $2,000+ Full home range + accessories Fast delivery, massive selection Walmart Traditional, modern […]

    Read More

    5 Things to Consider Before Remodeling Your Kitchen

    Kitchen remodels carry a unique kind of pressure. It’s the most-used room in the home and the one most likely to test your patience during construction. Even a small project can bring hidden costs, layout limitations, or weeks of inconvenience. That’s why planning goes far beyond tile samples and appliance catalogs. Before knocking down walls […]

    Read More

    The enduring charm of wood in modern architecture

    Timeless elegance of wood In the world of architecture, wood possesses an unparalleled beauty that speaks to the heart. Its rich hues and natural textures invite warmth into any space, fostering a unique blend of comfort and elegance. Wood isn’t just a building material; it carries with it stories of time, craftsmanship, and nature. As […]

    Read More

    5 Things to Consider Before Remodeling Your Kitchen

    Kitchen remodels carry a unique kind of pressure. It’s the most-used room in the home and the one most likely to test your patience during construction. Even a small project can bring hidden costs, layout limitations, or weeks of inconvenience. That’s why planning goes far beyond tile samples and appliance catalogs. Before knocking down walls […]

    Read More

    Farmhouse Designs in India: 15 Inspiring Styles To Know

    The Indian farmhouse accommodation goes on to capitalize on a mature evolutionary synthesis of ancestral aesthetics and contemporary features. With this, the outside and the inside of farmhouses became places of comfort with nature. In this blog, we delve into 15 incredible farmhouse designs that entail a harmonious blending. While they exhibit different spaces in […]

    Read More

    20 Designs For Kitchen Window Over Sink In India Homes

    When it comes to enhancing the kitchen window over the sink, various design ideas are possible to decorate Indian homes. From rooted in tradition to Western-style modular kitchens offer both functionality and attractive aesthetics. Apart from the sleek profile and raised breakfast counter, the kitchen window over sink is another spot to add appeal and […]

    Read More

    50 Timeless Pooja Room Door Design For Indian Homes

    Indian homes place equal importance on pooja room door designs as they do on main door designs. With diverse and unique ethnic backgrounds, every family strives to reflect their personalities and identities in their designs. These identities can encompass religious or spiritual interests, local contexts, or other personal elements. This series of blogs, featuring 50 […]

    Read More

    50 Best Pillar Design Ideas And Inspirations For Indian Spaces

    Pillar design is a cornerstone of architectural elegance, seamlessly blending structural support with aesthetic appeal. Our blog, “50 Best Pillar Design Inspirations,” celebrates this essential element, showcasing a variety of styles from classical Doric and Ionic to contemporary and avant-garde innovations. Whether you’re an architect, interior designer, or a design enthusiast, these pillar design inspirations […]

    Read More

    20 Screening Evergreen Trees for Indian Home Landscaping

    The integration of screening evergreen trees serves as an artful blend of practicality and natural beauty. These screening evergreen trees, with their lush foliage and diverse benefits, play a crucial role in enhancing privacy. It also blocks unwanted views, and contributes to the overall well-being of homeowners. From the majestic Jamun trees to the versatile […]

    Read More

    50 Magnificent Gate Design That Will Protect Your Home

    Gate Design is an important feature of any home. Numerous scopes for experimentation open up when delving into the design possibilities. Materials like wood and black steel are popular options in Indian homes. At the same time, designers also experiment with a combination of materials that suits their aesthetic. Buying mass-produced Sydney automated gates has […]

    Read More
  • The Importance of Drainage Planning

    How to get Blueprints of My House