What to consider before buying a development property

With more and more new development properties for sale in Soweto springing up, buyers are opting to go for these newer homes available. In recent years, buyers have shown a strong preference for these development properties and this trend looks set to continue.

As with any property investment though, it has to be thought through before making a final decision. If you’re set on purchasing a development property, consider these factors in order to get the most out of the purchase.

Get the layout, fixtures and fittings you want into the contract

If you’ve purchased a property in a development, before the development has yet to be built, you will be shown an artist’s impression of what the property will look like. This is known as buying off plan. Purchasing a property in this way means that the finished product may look somewhat different to the original picture. If you want the exact layout, fixtures and fittings originally shown to you, make sure that your contract specifies them. Read through the contract properly to ensure no clauses are included that allow the developer to use cheaper alternatives.

Buy a property from a reputable developer

It is important to buy a property from an established developer with a proven track record. Do your homework and research the developer’s previous projects and even go have a look at them to see if they are up to your standards. Continue your research online and see if there are any reviews, and what other buyers’ experiences with the developer have been.

Buy as early as possible

Developers usually offer great deals at the start of a development. Buyers can take advantage of this and purchase a property as early as possible to get the best price. But early buyers don’t only get the best price, they also have the best selection of properties to choose from.

Whether you’ve made your mind up on a new development property or not, remember these key things to get the most out of the purchase.