There are many compelling offers in the market right now that are put by the developers to entice buyers. These are widely promoted, creating a hike both in interest and business.
One such example is that of 123 Apartment building under construction in Dee Why, who invited Off-the-plan buyers at Gannet Developments’ Osprey to spin a Wheel to get a whopping amount between $20,000 and $100,000 discount off their purchase price.
This generated much enthusiasm and even played a huge role in bagging new customers.
Similar measures like offering to pay stamp duties, furniture deals, rental packages, upgrades in finishes are also often offered by developers to attract a spike in sales. The agents even go to the extent of providing all expenses paid holiday packages to the clients.
So to sum up, if you know to bargain correctly, you might be able to pull off an excellent deal along with the new house. But it is not that simple; buying off the plan always has a little edge.
Business brokers Brisbane claim that if the property is priced right in the first place and offers value, there is no need for any incentives at all. Still, there are many factors involved in achieving the sales target from the cost to build a house to getting funding for the construction that drives developers for such steps.
Nevertheless, if you are offered an option, let us which could be the best incentive.
1. Initial Deposits
Giving incentives on initial deposits are gaining more popularity among both developers and buyers. If you are unable to pay the usual 10 per cent then, as per the incentives, you can pay it in instalments, it usually works with 5 per cent initially and then 5 per cent later.
Recently there is also a practice for first home buyers can secure the home for only 5 per cent deposit and pay 2.5 per cent in the two consecutive years subsequently. This enables the buyer to purchase the houses at the current price and be able to raise the remaining amount in the next two years during the construction period. Finding the right finance broker can literally save you tens of thousands.
2. Stamp Duties
This is probably the incentive that offers the best value. It provides a considerable reduction in the buying amount, depending on how much it is. So if you can get a stamp duty rebate over an amount like $700,000, then you could consider a broader property range. Choose the right Brisbane builder for your home.
3. Outgoing Bills
Many developers have also come up with paying outgoing bills to sweeten the deal. EG Developments offered the same for The Flour Mill in Sydney and has been quite successful in that.
This deal includes the developer offering to pay all the outgoing bills for 12 or 24 months. The anticipated cost would be refunded of the contract price at the time of settlement. This often covers costs for maintenance, water, gas, electricity and other usages. These rates are different for 1, 2 and 3 bedders.
Apart from such offers, you could also find packages from project builders Brisbane that include a free furniture pack. If you are lucky, you will find a developer that more than one such bonus. You could always negotiate with the developer but beware that the lower price might compromise the quality and integrity of construction and the development. With a vetting standard that satisfies only the pickiest, Renovation Builder Brisbane ensure that your expectations will be met, if not exceeded.
How to Find the Good Deals
You have read how you could bag one of these deals while you are investing in a property. But it is not always you get offered such incentives, for that you have to do some research. Most offers are promoted through database email lists, local press and web portals.
It is also crucial that you do your homework while approaching the builders. You could start with consulting the project marketing agency and get yourself signed up to be alerted on any new offers. Often the policy is if you don’t ask, you don’t get.
You could hint out that you have looked around and many other developers are offering such offers and start from there. At the same time, you need to be aware of the value because once they get many buyers, they might cut back the rebate amount. Choosing the right building designer is important as it can make or break your project.
When it is a big investment, it is only smart to research thoroughly on all the aspects of it. Below are a few things to keep in mind while you go behind the incentives to ensure that the property is valued right.
Research the developer to know whether they are properly funded. Check how long the developer has been in business, how their past projects are performing, and whether they were built within the projected time period. Keep an eye out for sunset clauses in the contract too. Our house and land packages Brisbane got you covered from $50K renovations to $5M projects.
Research the builder for their background and quality of work. Check whether they have the required insurances and their track record. Previous developments and under construction sites are the best to see evaluate their work.
Make sure to check out a model property that is bare of any upgraded finished and fancy furniture. Mostly, you would be receiving houses without any of these.
Understand which stage the construction is in at the point of purchase. This will help you to calculate the stamp duty you would be paying. Custom Home Builders Brisbane gets you 3 competitive quotes from the most trusted builders.
Be thorough about the arrangement cover and what are all included. Make sure whatever incentive is included is also a part of the contract, and ask specifically about the building insurances.
If the incentive is a rental guarantee, and if it is specifically attached to the contract, the value of the rental might be evaluated for less. Get in touch as one of our friendly team members will get back to you within 48 hours.
Also, make a point to note whether there are any exclusive leasing authority binding you to any particular agent for any actions on the house in Brisbane.
To sum up, even if the incentives are incredibly appealing, you need to read the fine print that comes with it. Developers do not just give out offers without getting at least a bit profit from them. As the buyers, it is your responsibility to guarantee yourself the best deal without any side effects.
Find the best offered by Brisbane builders by contacting them through TrustCo.