A new series of short videos will help property buyers boost their confidence through a greater understanding of the essentials of what is involved with buying property off the plan.

The series called the Simple Guide to Buying Property Off the Plan will be a useful resource for people who want to understand more about this way of purchasing property.

If you watch these videos you will have a great understanding of what it means to buy property off the plan and how you can get a jump start on other property buyers.

The series covers:

1. What is buying property off the plan?
2. Some of the risks in buying property off the plan
3. The four simple steps to buying property off the plan
4. Financial considerations and deposits
5. Buying in a multi-unit development and inclusions lists
6. How to make stamp duty savings
7. Understanding owners corporations.

You can also review a report copy of the Simple Guide to Buying Property Off the Plan and the helpful Off the Plan Checklist to ensure you consider all the key points before signing a contract of sale.

Have you successfully bought property off the plan before, let us know by leaving a comment below.

Smart property buyers and investors who understand the value of buying property off the plan are getting the jump on other buyers. To help people looking to buy property off the plan Fast Love Homes has a simple checklist to ensure you cover off all the key considerations before you sign the contract of sale.

Buying off the plan means entering into a contract with a developer to buy a property before the completion of construction. Since there
is no physical property to inspect or see, you view the design, building plans and pictures to get an idea about what the property will look like on completion.

One of the biggest advantages of buying a new home off the plan is that you will be the first owner of the property and get a brand new dwelling built just for you.

Follow the checklist below to ensure you cover all the key points before signing a contract of sale.

1. Finance – Work out your budget and/or what you are able to borrow. Confirm with your lender about how they treat off the plan sales.
2. Inclusions – Ask for a clear list of all fixtures and fittings, kitchen appliances, light fittings, and carpets.
3. Contract details – Confirm the details that will be included in your contract. Find out if there are penalties for withdrawing from the contract. Review the contract in detail for clauses about commencement and information on your right to re-sell the property. Get the contract checked by your legal adviser.
4. Builder/ developer /architect history – find out about the team doing the development so you can be confident they will deliver everything promised.
5. Local market research – Investigate sales of similar properties in the local area to make sure you are paying fair market value.
6. Deposit details – Be clear on what amount your deposit will be and what form it will take (cash, Bank Guarantee, Deposit Bond etc)
7. Legal advice – Consult with a solicitor or conveyancer to closely check the terms of the contract to make sure your rights are protected before you sign the contract.
8. Stamp duty and other costs – Make sure you work out all the costs involved with the purchase including stamp duty and other ongoing costs like Owners Corporation fees.

You can always discuss your expectations with the sales agent or developer to ensure you are clear about what you are buying. Make sure there is mutual agreement with the developer on some or all of your expectations and have them written into the contract. This will help avoid disagreement between both parties at the time of completion. Remember, if it is not in the contract it is unlikely you will get it included in the finished property.

With a little understanding, buying property off the plan can be a way of securing a good quality home at a fair market price, and then influencing how it will be finished so it suits your style and needs.

You can grab a full copy of the Simple Guide to Buying Property Off the Plan from our website. Or watch the Guide to Off the Plan video series.

If you’re about to build a home for the first time, you might be feeling a bit nervous about the “extra costs” the builders might not have told you about.

This is why it’s important to shop around carefully for a builder who clearly states what will be included in the build price, commonly known as the range of inclusions.

So Which Inclusions Are Normal?

The following inclusions are typically covered by the builder’s range.

1. General Inclusions – such as fixed price Residential Building Contract; all council fees related to the house such as water connection; builder’s insurance; compulsory Work Place Health and Safety levies
2. Slab construction
3. Energy efficiency compliance – including door seals to external doors and energy efficiency report to a minimum 6 star rating.
4. Sustainable energy compliance
5. External cladding including external clay brick veneer; roofing, guttering and insulation
6. Windows – the framing for doors and windows; safety screens for sliding glass doors and clear glazing to sliding doors and windows if necessary.
7. Doors and locks including timber or paint grade finish; locks on doors; door stops; internal doors and handles; garage doors if applicable.
8. Internal lining
9. Built-in shelving
10. Cabinets
11. Appliances for you to choose from such as a dishwasher, oven and stove
12. Plumbing fixtures
13. Shower screens
14. Electrical – lighting for each room; power points; built in fans and heaters; TV points; antenna; smoke detectors; phone points; air conditioners
15. Painting
16. External items  such as letter boxes
17. Tiles
18. Carpeting
19. A specified maintenance period and approved structural guarantee.

The builders range of inclusions

Quite often there is some degree of flexibility in terms of what exact products will be used in the ‘builder’s range’ as certain items may not be available or within the budget. Specific products and appliances can be included in your inclusions list, you just need to make sure they are clearly agreed to, and specified in your contract.

It’s important to carefully check your builder’s agreement to make sure you know exactly what is and isn’t included in your builder’s range. If it is not in the contract don’t expect it to be added for no cost.

Have you had any strange or memorable experiences with building inclusions?

When you buy a property off the plan (which means before the home is actually built) the inclusion list is basically the shopping list of all the things you will get when the house is constructed.

It will include big things like the type of foundation or concrete slab the house will be built on and the type of frame that will form the basic structure of the house, and little things like the door handles and type of paint that will be used on the walls.

It is important that you review the inclusion list carefully, as once you sign your contract and agree to the inclusion list that is exactly what you will get in your finished home.

If an item is not included in your inclusion list don’t assume or expect that something better, or not even on the list, will somehow be added along the way, unless you agree to a variation and pay the difference (if any) for the item.

Tune in to your inclusion list

A classic example is television aerials, often the points and wiring for an aerial are included in a basic inclusion list but the actual aerial is not, so when the new homeowner moves in and plugs in their telly to watch their favourite show they get a shock to find they have no reception. Then when they ring the builder they are further dismayed to find the aerial was not in the inclusion list and if they want one they will have to pay more money to get one installed.

Another small item to look out for is wire screens on windows, sometimes they won’t be included in your basic inclusion list, so if you are looking to buy in an area with lots of flies and bugs it might be worth paying the extra to get the screens installed with the house.

The basics of an inclusion list

Other common items covered in an inclusion list are:

–         the type of flooring whether it be carpet, boards, tiles or something else

–         the types of doors throughout the home

–         window frames

–         tapware and bathroom fixtures

–         kitchen and bathroom benchtops; and

–         light fittings and switches.

While you are usually provided with a basic inclusion list to make decision making easier for the buyer, you will also be able to ask for particular items to be included. For example if you have a special type of oven or cook top that you must have in the kitchen, or a particular type of tiles for your kitchen and bathroom. Most of these things can be easily included if you buy your property before construction has started.

Not included not expected

Remember if it is not in the inclusion list it won’t make it into your finished house so review your inclusion list carefully before signing your contract.

Do you know of other items that you expected to find in your newly constructed home only to find they weren’t on the inclusion list?