Why and how to buy your dream apartment off the plan
The key benefit of buying off the plan is that it puts you in the driving seat giving you time, choice and the opportunity to enjoy your new neighbourhood before you move in.
Time
Buying off the plan gives you time – time to get your financial affairs in order before settlement takes place. Having time to sell an existing home allows you to coordinate the sale of your home, organise finance and plan your move, significantly reducing stress levels.
Greater Choice
Early purchasers will have a greater selection of what apartments are available and the ability to choose a property that meets your criteria in terms of position, aspect, and floorplan. Generally, you are also able to choose your preferred colour scheme and any options that are available. This allows you to set it apart from others and make it your own.
Try Before you Buy
Getting your affairs in order early, may also provide the opportunity to move into your preferred suburb ahead of the delivery of your apartment. This allows you to get to know and enjoy the amenity and attractions of your new area without waiting.
Now that you know the benefits of buying off the plan, here ere are the 5 easy steps to secure your Stockwell apartment in Brisbane.
1. Signing Your Contract
Stockwell provides detailed off the plan contracts and disclosure statements that protects you and clearly states what is being purchased and what is included. To secure your new apartment you will need to pay an initial deposit of $1000. This allows you time to sign your contract, finalise colour selections and certain standard options. A 5 day Cooling Off period also applies giving you the opportunity to conduct any final due diligence and should you be unable to move ahead with the purchase you can do so without penalty within this 5 day period.
2. Finalising your contract
Generally, 14 days after you have signed your contract and it has also been signed by Stockwell, you will need to pay the balance 10% of the purchase price (less the $1000 initial deposit). Your contract is then unconditional and you will be required to settle the property on the nominated date.
3. During Construction
You will be kept regularly updated about how the project is progressing. About 6 months before the completion of your apartment, Stockwell Living, who look after the building management, caretaking and property letting on completion of construction, will help you with:
Information about your handover inspection
Offer guidance on moving in
Provide an orientation to your new property on settlement.
4. Completion
Stockwell Living will invite you to your handover inspection, address any items to ensure the quality, finishes and inclusions are as you expected and instruct our solicitors to proceed with the settlement of your apartment.
5. After Settlement
Stockwell Living will support your move in, building orientation and answer any queries you may have. They will also coordinate any items under the Seller’s Guarantee and make you familiar on the ongoing homeowner’s maintenance required for an apartment.
At Stockwell, we want you to buy with confidence and we are always available to help. If you want to find out more about buying an off the plan apartment in your favourite Brisbane location, contact us now.