Consider customisation: tips for buying off-the-plan
Not only can buyers select what they want upfront, they can sometimes make some changes to the floor plans so the property better suits their needs. Almost always the first units to be sold are those in the best positions, such as corners or penthouses. Some ground floor apartments have courtyards, too. It is first in, best dressed. Investors can be found looking for these units, since they usually bring in a greater rent.
Some buyers may pick up two apartments and amalgamate them into a large three-bedroom apartment, while others may turn a two-bedroom unit into a large one-bedroom apartment. Most developers can offer buyers choices of finishes and a variety of upgrades for additional costs.
A serious chef might want the dream kitchen with the best appliances and stone benchtops, while an asthmatic would probably opt for a timber or stone floor rather than carpet.
Bear in mind, though, that changes to the plan and to fittings and finishes might push up the price, but might not have as great an impact on end value. Also, if it is an investment purchase, consider who is likely to rent it and whether they would pay more for high-quality extras.
For great tips on buying off the plan, download Property Observer’s free ebook – 14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.
