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Building a dream home requires skill, trust, and dedication. That’s why choosing the right Builders in Bondi can make all the difference. A reliable builder turns your vision into a strong, beautiful, and lasting structure. In Bondi, homeowners look for quality craftsmanship and attention to detail — both vital for creating spaces that truly feel like home. Expert Home Construction…

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Capitalise on the current real estate market with our 7 tips for buying an off the plan investment property

With winter and the Australian election now behind us, how do you snap yourself up a bargain before the market starts to regain some confidence? Buying a property off the plan offers several advantages, the first one being that the price of the property is fixed at the time of purchase (perfect for current market conditions). In addition, for those who are looking for ways to reduce your taxable income, this type of property investment will enable you to depreciate the fixtures and fittings and deliver a healthy return at the end of the financial year.

Understandably, many of us prefer to touch, see and experience a property before we handover our hard-earned cash, so today we’ve included 7 tips to assist you with purchasing a property off the plan:

1. Inspect the site

Even though the site may be a patch of dirt, an old run down house or car yard - take the time to visit the property site and check out the location. Explore how close the site is to local amenities, shops and public transport. Your visit will also enable you to observe other construction taking place in the area and create an opportunity for you to drop into the local Real Estate Agent to see the volume of rental occupancy rates and current rental returns.

2. Check the credentials of the Architect and Builder

Seek out the name of the development’s architect and builder and then jump online to research their portfolio of past projects, quality finishes and any reviews. If you’re able to source the address of some of the past work, it may be worthwhile taking a quick drive to see how the development has aged over time.

3. Review the Builders’ Insurance

It may sound like a painful task – but 12 months builders’ insurance vs. 7 years builders’ insurance will make all the difference if your development goes pear-shaped post construction. Therefore, it is important to check that the project comes complete with all development and construction certificate requirements and the relevant levels of insurance.

4. Get a guarantee for finishes and fixtures

The contract of sale should include a guarantee in relation to the finishes and fixtures post construction. Once again, take the time to review the details, as the last thing any buyer would want is being asked to settle prior to the development being 100% complete or finding cheaper fixtures and fittings than what was expected.

5. Pay attention to the floor plan

Will you be renting out the property as soon as it is completed? If so, to make your property stand out against the rest, it will require an attractive location within the block and a well-designed floor plan. Ideally, one-bedroom properties should be no less than 52 or 53 sqm on the inside with a balcony space of at least 10 sqm. Furthermore, pay close attention to where the lift and rubbish shoot is positioned on the floor to avoid noise and any unwanted smells during the summer months!

6. Know your market

We would recommend that you look for a development in an area that holds a healthy balance of renters and owner occupiers. Furthermore, prior to purchasing an apartment off the plan, you should have a rough idea of the age demographic that you’re looking to attract and ensure that the development and location meets their needs.

7. Carefully review the contract

It goes without saying, but it does make sense to have your Solicitor and Accountant look over the contract before you sign the dotted line. Key items to look out for are; the completion date, penalties if the buyer withdraws from the contract and what happens if the developer runs into a financial problem.

If you are interested in buying an investment property off the plan, we would encourage you to take a look at the projects page on our website (www.dovetaildevelopments.com.au) or give us a call on 1800 220 148 and we’ll show you how you could save up to $100,000 off your next off-the-plan property purchase.