Buy off plan!! No way

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
30/10/2008 16:38

I would never buy off plan again,the builders give you unrealistic end dates, fully knowing there is not a cat in hell's chance of delivering on time.Buy a resale every time as having electric is the most important utility, you can always get a tanker to deliver water, unfortunately resales were virtually non-existent when we bought in 05 otherwise we would have gone for that 100%

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
30/10/2008 16:57

Mindy,



I'm surprised at what you say. I started looking to buy a place in the late 90s and finally bought in 2001 and almost everything then was resale, and in 2005 there were still loads of resales on the market even though a boom had started. How many estate agents did you try? I found a good way of inquiring after a property was to knock on the door and ask if they wanted to sell. Many people couldn't believe their luck.

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
30/10/2008 17:14

we were looking in Karsiyaka area and didnt see anything in our price range apart from crumbling ruins selling for 70k plus. we rented for a while so had a good look at most areas, in the end we bought off plan,

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
30/10/2008 17:19

Mindy, sorry that you seem to have fallen foul of the off plan market, as so many others have found to their cost. Must say tthough that like Pike I am surprised that you say re sales were virtually non existent in 2005. I bought a re sale in 2003 and on each and every visit since then have been drawn to every estate agent's window and never yet seen a window devoid of re sales, and their websites too always have a large selection so am not sure how much time you actually devoted to your search.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
30/10/2008 17:22

I would have bought a resale but they didnt tick all the right boxes or so my wife told me. Bought off plan instead ,taken a lot longer than i thought but am very happy with the result. The best things in life are worth waiting for or so they say.

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
30/10/2008 17:23

ok guys give me a break, maybe i had my brandy sour goggles on.

the-wicks


Joined: 27/05/2007
Posts: 2279

Message Posted:
30/10/2008 17:25

We bought off plan in January 05. Our completion date was May 06 & guess what on the 25th May 2006 we were handed our keys. Yes it was finished. I know we were probably lucky but I'm not complaining.

P of P & J

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
30/10/2008 17:26

I was totally happy with the result, just don't mention snagging lists. At least with a resale what you see is what you get.

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
30/10/2008 17:28

Mindy, brandy sour or Efes goggles - we've all been there!!

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
30/10/2008 18:08

Too true, Jimmy. But how would you be feeing if both paper bags had burst as well? ;-) ;)

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
30/10/2008 18:18

Pretty sick too I'd imagine Pike !! :-(

cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
30/10/2008 19:45

I wouldnt recommend anyone to buy off plan. So many people have had problems with builder not prodiving electric, wont do snagging, finding out there are mortgages on the land, builders refusing to give out title deeds, threats and blackmail by them because they still have the "title" me included. Untiy they change this specific performance law buyers have got no protection whatsoever. In the papers now banks are going to foreclose on mortgages that the builders havent paid off even though the people living in the villas have fully bought and paid for them. The builders have imho committed fraud by getting mortgages on land that is subject to a contract of sale. The banks are negligent as they must've known the land was subject to contracts too. This means people could be chucked out in the streets who bought in good faith. Who in their right mind would want the risk of going through all that now? This is serious stuff that the government doesnt seem to want to address.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
30/10/2008 21:35

I agree that Re-sale is the favoured route. Getting power and water can be a lengthy nightmare!!



As more developments come on then the re-sale market will also become more populated.



Re-sale will often have had the Tender loving care treatment, will often have mature gardens and good infrastructure in place.

Right now there are some super eals to be had and there are some gems out there. Get searching and good luck to all.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
30/10/2008 21:54

Must be one of the lucky ones (touch wood) cant fault our development.Everything we have asked for has ben done and instead of being behind schedule they are in front,

Paul.

steviec


Joined: 13/01/2008
Posts: 89

Message Posted:
30/10/2008 23:36

more then happy with my off plan property even go has far as saying better then expected.