Look out now for the off-plan bargains

Investors and homebuyers who are on the lookout for real bargains should go shopping now for off-plan apartments, townhouses and clusters.

This is the advice of Keith Nash, sales director of leading residential developer Sable Homes, who notes: “Prices are very competitive at the moment and an off-plan purchase now means that shrewd buyers will probably be able to peg the cost of a home to be delivered in 2010 or 2011 at the 2008 price. This will give them a big head start when the market turns and prices begin to rise.”

Other reasons to buy off-plan units now include the fact that there is no transfer duty payable on a home bought directly from a builder or developer. For many buyers, relief from having to pay this large cash sum is the difference between being able to afford a home of their own or not, especially if they need to pay a cash deposit before their bank will grant a home loan.

“What is more,” says Nash, “modern gated communities offer better security and more personal safety at less cost than single suburban dwellings, and the newer the community, the more up-to-date its security equipment and methods are likely to be.

“And finally, besides the fact that off-plan buyers can often customise the layout or finishes of a home to suit their particular needs or preferences, a modern home designed to suit current lifestyles is likely to fetch a higher price when the time comes to resell it.”

However, he cautions, buying off-plan is more difficult in some ways than buying an existing home, “because you can’t see what you’re getting”. Consequently, buyers must be sure to deal only with reputable, experienced developers who have a clear track record of completing projects on time and who take pride in quality workmanship.

* Sable Homes currently has off-plan opportunities available at its Kyalami Glen estate in Midrand and its Retreat at Hazeldean retirement village east of Pretoria. For more information, buyers can call Keith Nash on 011-510-9999

Article by: www.sablehomes.co.za