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Buying in a brand-new development is an exciting prospect. Generally located on the city fringes, new subdivisions offer prospective homeowners an opportunity to be part of a fresh new community coming to life. Here are some things to keep in mind if you’re interested in buying a House & Land package in a new development.
Before you choose where to build a new home, it’s always wise to spend a little time investigating the organisations involved. Who is the developer and what have they developed successfully in the past? With some challenges facing the industry in our current economy, the ability of the company to see the development through to completion is something worth researching.
A new community will be part of a much larger, long-term regional plan. This is usually created in collaboration between the local council and the developer. This takes things like schools, medical centres, retail and sports venues and green spaces into account which can have a significant impact on your lifestyle. These can usually be found on your local council’s website, or you can contact the developer for more information.
Getting in early and purchasing off the plans can be a great investment. As developments grow and amenities improve nearby, the value of a house increases and so does your equity in your asset.
Being a founding member of a new development can create a strong sense of belonging and a close-knit community of people – and let’s face it, everybody needs good neighbours!
Reviewing the pros and cons of building a new house in a new development require a little bit of consideration but it’s important to compare your needs and wants over time.
While you may experience a brief period of construction surrounding your property, the sacrifice will bring many other benefits, financial and otherwise.
Find out more about the developments and opportunities available near you HERE.