5 important questions to ask when you visit a display suite
It's easy to get caught up in the hype of visiting an impressive display suite and choosing your fixtures and finishes; however, you don't want to leave feeling as though you still have unanswered questions about the property you're looking to purchase.
Sales agents hear buyer’s questions on a daily basis, so they're generally pretty good at being able to tell you what you might want to know about the property – and even facts you may not have even considered. We've compiled a list of 5 questions that you won't want to miss discussing prior to signing the contract on your new property to ensure you can sign with confidence.
1. Are there any developer incentives currently available?
Finding out whether you can make any financial savings on your new property is advice that can be given to you by your broker; however, sometimes developers run special offers or incentives for buyers. By asking this before paying your deposit and signing any paperwork, you could be able to save yourself thousands of dollars.
2. What are the estimated annual/monthly strata fees?
Buying a home within a multi-residential development will often mean you are required to pay strata fees for ongoing maintenance of your property/amenities. This fee reflects your share of maintenance costs with other residents; however, your strata fees will generally be higher if there are many amenities. Find out the current estimated rate and when it may change.
3. What other costs may be associated with buying off the plan?
Buying off the plans offers fantastic flexibility for you to secure a home to meet your requirements. To ensure you're happy with your purchase upon completion of your new home, it's always wise to review the inclusions and optional upgrades that will be included in your contract. Work with your sales agent to review all the inclusions you'd like, including air conditioning, flooring, appliances and more. Then you'll be able to customise your home to meet your lifestyle requirements.
4. Can I modify my home in the future?
Should you wish to upgrade your home in future, this could range from changing your appliances to painting the exterior of your home to adding an extra bedroom. You may be required to seek approval from the owners corporation or community association, or there may be some limitations to the modifications you can make to your property, so finding this information out in advance will mean you don't run into any obstacles in future.
5. Who is the developer and builder?
Buyers should read up on the developer and builder to see what new properties they have previously delivered. There may be similar properties or earlier stages that are now complete to visit and to get a feel for their finished product.
Mirvac's end-to-end capabilities as a developer, design team and builder have been shaping Australia’s urban landscape for almost fifty years. Building a reputation for quality products, creating some of Australia’s most iconic places and precincts and thriving masterplanned communities.
Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Mirvac cannot be held liable for any inaccuracies, errors or omission. The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.