When buying a property, some points should be taken into account, such as the choice of location for the development, the size of the apartment, the proximity to shopping centers and services, and whether it meets your needs and those of your family. After all, the idea is to buy a good that serves as a long-terminvestment.
There fore, you have to be careful when buying a property in the plant. With that in mind, in this text, we will show you the advantages of purchasing a property stillunder construction, and how to protect yourself from any misfortune whilewaiting for its completion. Keep reading and check it out!
What are the advantages and disadvantages of buying an off-plan property?
Who wouldn't want to live in a new building, with the most modern in the construction sector? Although it seems like a dream, the purchase of a propertyin the plant has advantages and disadvantages in relation to those already built.
In addition to being new, there is the possibility of customizing it according tothe customer's taste. It is also possible to find cheaper prices in valuedregions, as the construction companies want to start the work with most of theunits sold, making cash to carry it out.
As disadvantages, we can mention the delay in delivery, changes in the amounts to be paid and even the costs of renovations after delivery, due to the use of inferior materials by the construction company.
What are the precautions to buy a property in the plant?
Be careful when choosing a business
The first care when buying a property in the plant is to choose the venture well. Based on the needs you and your family are looking to meet with the property, and see if the asking amount fits into the family budget without causing major damage. After all, we don't want to see anyone in the red because of the apartment plots.
Remember that you are purchasing something that will take time to receive. The purchased asset does not yet exist, as you are advancing the money to the construction company to raise the venture. “The effective purchase and sale contract only appears after delivery of the property”, recalls the consultant.
So avoid making big plans — like delivering your current apartment or planning a wedding — with the promised delivery date in mind, as there may be delays.
Search the history of the construction company for real estate deliveries
To avoid problems with the delivery of the property, it is necessary to researchthe history of the construction company before signing the contract. There aremany cases of companies that promise the best services and, due to financial orcorporate problems, abandon the work, leaving buyers homeless.
Search the construction company on the internet and see if there are any complaints and Investment Guide. Talk to friends and relatives who have recently purchased real estate with the same company, so they can share their impressions and experiences with it.
Check the delivery time promised in the contract
In addition to the builder's reputation, it is important to carefully read the contract and verify that the promised delivery time will be met.
It is normal for some delays to occur, due to adjustments and documentation that may take time. But the work cannot be delivered long after the agreed deadline.
In a report to the newspaper El Heraldo, buyer recalls that she closed the contract and later discovered that the construction company used to delay its works byup to three years. Only with an agreement in court, Karin managed to recoverpart of the money invested and bought an already built one.
When signing the contract, check that the work deadlines are being followed, and how the construction company can offer a frequent update on the delivery.
Read Also: How to Buy Land? Check Out A Step By Step
Make site visits
In addition to looking for information about the delivery time, make site visitsto your routine to see if progress is within expectations.
It is not necessary to go every day to see the project, but at least once or twice a month it can be interesting to check that deadlines are met. If there is still a sales booth on site, ask what the expected delivery date is.
Pay attention to the necessary documentation
Since the beginning of the works, some documents are needed to show that the project is legalized before the local authorities. Don't be ashamed to demand the presentation of papers such as the registration of the property with the local City Hall, the descriptive memorial of the work (which details the entire project to be carried out) and the impact constructions in the surroundings.
Before the apartments are delivered, make sure that the construction company has legalized the development with the Reside-se – issued by the City Hall – so that the property can receive its buyers, without offering risks due to the construction.
Prepare your self financially for the different stages of the work
Buying an off-plan apartment is not just about paying a down payment and making small installments while waiting for the development to be ready. Even with the possibility of a cheaper price than the finished ones, the property in theplant is usually sold in stages, which may suffer cost variations and rate increases.
First, the buyer gives a down payment and then splits the rest of the payment. At the time of handing over the keys, with the apartment ready, there is an increase in the amount charged, which can unbalance the budget.
Thus, we suggest that, even before signing the purchase agreement, the future owner evaluates the situation of his budget, and sees if the installments and their variations fit in the monthly expenses. It is always necessary to keep in mindthe need for financial planning before buying a property.
Count on partners when buying a property in the plant
In order for the experience of buying a property in the plant to be the best possible, count on people and companies experienced in the subject. A realestate agent and a trusted broker can help you succeed in acquiring the property. Roatan Real Estate, for example, is the best option for those looking for a property in Honduras, due to their seriousness in their work and knowledge of the region.
As we have seen, buying a property in the plant can be a great deal for those who want to make this type of investment. By taking some precautions during the acquisition and construction, it is possible to avoid the most common problemsand fully enjoy your new home.
Now that you already know some precautions to buy a property in the plant, visit the Roatan Real Estate website and guarantee a first-class service at the time of purchase!
