Howdy, we're operating at all alert levels and our advisers are ready to help. Stay safe out there!
Buying off plan requires a small leap of faith. You're buying something sight unseen with a few artist impressions and written specifications to fill the void. The benefit is that they are often better value-for-money and you don't need to fight it out each week at auctions. The challenge is getting your head around what you're buying.
I have no issue with the quality of modern developments, the key is where they are built. It is unavoidable that most new developments will be on fringe or marginal land. Focus on the quality of the product, its location, and the people that are buying into it. Is it an area that is progressing? Will the development foster a small sense of community? Get your life and health insurances sorted at the same time so you're covered if something goes wrong prior to settling on the new property. Make sure you use a lawyer that understands development sale and purchase agreements - they are different. Your lawyer should know all of the shortfalls.
Subscribe to our newsletter to ensure you're the first to get the latest articles and insights from the Squirrel team