is it worth buying off plan ?

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
16/10/2007 15:48

After reading of all the problems people are having buying off plan is it worth it? would it not be easier to only buy either resale or at the very least only places that have already been built.

It seems that every body is out to get you, estate agents, builders, soliciters, electric problems, water problems, bureaucracy etc etc, is it worth the hassle.

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
16/10/2007 16:35

hi graham

i have to say i would advise people unless they know the ins and outs of cyprus to just buy a nearly completed or resale property ok if you buy off plan you get a better deal and you can choose tiles - colour etc but i just dont like the fact giving over money in stages for a property which wont even belong to you (legally without deeds)until the whole complex has finnished.

at least with a resale what you see is what you get more than likley the deeds will come quicker.

im not saying buying off plan is a no-no because i have bought off plan in the past and had no problems (im turkish i know a lot of the agents and builders) and so many others too of this forum but i do say you have to pick your agent - lawyer - and most important the builder very carefully even thou your agent and lawyer might be the best but if the builder is dodgy they can take everybodys money go bankrupt and for you to get your money back can take ages if you can get it back!!!!

so what i say take your time make sure you make the right decision dont be pushed in to bull that most agents and builders tell you and remember this the houses are not going nowhere (unless they get sold) and if it is meant to be it will be!!!! plus dont forget it is defo a buyers market at the moment so all buyers hold an advantage

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
16/10/2007 17:40

Hi Graham,



ukturk is exactly right, I would not buy off plan.



Peter

Marvo


Joined: 30/04/2007
Posts: 194

Message Posted:
16/10/2007 17:57

ukturk is probably right,



We bought offplan mainly for the timing aspect of the whole procedure.

We are retiring out there and the year long construction process allowed us time to tie up all the loose ends in the UK.

Also at the time we were out there there did not appear to be the same quantity or choice of resales as there was offplan (we were shown none), but that may have been down to the eastate agents. And I was not aware of the existance of this forum.



Bob

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
16/10/2007 18:07

ukturk,



I have to admire your dedication in helping users of the forum. Keep it up.



We are in the first stages of buying off plan and so far are confident that the set up is good and we will have a lovely home in a beautiful country to look forward to. (fingers crossed)



Reading and hearing about the pitfalls in this practise is not nice and their are people out their that are vunerable and taken in by parting with hard earned money to quickly.



It is like a box of chocolates.......you just have to have one and do not think about any consequences (if that makes sense) Sellers spiel and sometimes pressure can lead to peolpe signing up for something that will rebound and cause you a lot of heartache.



My motto is to look at all the pro's and cons.....take a step back and say to yourself is this what I /we really want and need. Off plan was our only option and I can assure you that if we had the cash available we would buy a finished/resale property evertime, unless we were dripping with dosh.



It is really usefull for all of us to put on the forum the good, bad and ugly side of buying and also for people to ask questions etc.



Have a nice day all.



T.

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
16/10/2007 22:48

Tiggy,



There are plenty of resale properties available and at less than you will pay for off plan. In a number of cases builders have finished or virtually finishes properties for sale that they really want to get off their hands. Buying a resale means you know that the property has water, electricity and roads.



Estate agents are not keen to show you resale properties because their commission on sales is quite a bit less.

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
17/10/2007 05:29

Hi grahamlil we bought off plan and had no problems, but having said that ,it is up to the purchaser to do their bit too. research research research you cant do too much . and of course gaining first hand information from members of this forum { invaluable }

good luck simbas

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
17/10/2007 10:30

Thanks yet again for your replies, ukturk you really are a font of all knowledge, I bet your good at quiz nights.

I am sure there is a lot of ofplan sales that go through fine, with few problems, however we will be in the lucky position to be able to rent whilst we look which we are 90% sure thats what we are going to do.

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
17/10/2007 10:58

Cheers Lovingcyprus,



I am well aware of cheaper resales etc. the off plan one we chose is what we really wanted.



Just wish I was over in Cyprus to enjoy it.



Good luck grahamlil



Sunny morning in London.



T.

davidoff


Joined: 21/04/2007
Posts: 438

Message Posted:
17/10/2007 12:49

Hi all,



Unfortunately its always the negatives you hear and not really the positives!



People tend to be more voiceferous when it comes to complaining about something and when there are positives to be said it is normally very few and far between!!



Sorry to say this but we tend more to be a nation of complainers- and very rarely talk about the positives about any situation!



Take care-D

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
17/10/2007 15:14

davidoff,

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
17/10/2007 15:19

davidoff,



Sorry hit the wrong key.

Yes I am sure you are right, very few report when it all goes ok, however there are an awful lot of negatives on the web when buying in North Cyprus, it would seem that research is the main thing, however this is hard to do when not in the country

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
17/10/2007 15:51

hi there all

davidoff is correct in saying we mostly hear the horror stories on buying in north cyprus even thou there a lot of happy customers!! the only thing i can add to this is that if cyprus was not filled with a few dodgy agents-builders-lawyers we would not have this bother but because the n cyprus housing market is quite new we will have them present until the laws for these dodgy bods have been changed and regulated in favour of the buyer until then thats where these websites come in handy where (sorry to say) we read about peoples misfortune and we can learn from their mistakes (most of the mistakes are self inflicted due to people not doing their homework and trusting these cowboys) like you said thou graham it is hard for people when they dont reside in the country the best way round this is for people to post their good stories and to reconmend agents - builders - lawyers so people buying who dont know can be advised at least that way we can slowy but surely start to stamp out these cowboys and then we can start to hear more good stories rather than bad

p.s just to point out it is not just n cyprus with this problem spain-france-portugal and even turkey has these horror stories aswell

ive gone on too much sorry!!!!!

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
17/10/2007 15:58

ukturk,

Your quite right there are always a few bad apples, and as you say other countries are the same including England.

I have to say none of this will change my mind I have only been to TRNC once but the main reason for wanting to make it home is the people, in general the most friendly I have met anywhere in the world and look at the crime rate 3% I believe.

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
17/10/2007 16:59

hi graham

im happy you feel this way towards north cyprus and all the propaganda has not worked with you!!!!

you are right the crime rate is low - the education system both state and private good - health care (state cheap - private top quality and cheaper than the u.k) - cost of living less than any other european country - 300 days of sunshine - the best beaches - turkish food the best around (i would say that cos im turkish) - the cypriot people very warm and friendly and house prices the cheapest in the med (other than bulgaria & romania but who wants to live there no offence) so all this in mind why would you not want to live here

lovelife


Joined: 07/07/2007
Posts: 231

Message Posted:
17/10/2007 20:19

Hi graham



I have just returned from NC and we bought off plan, the reasons were the time scale, the fact we could specify changes, and pick tiles, flooring, units etc.



We met with Tash our builder while we were out there to clarify building changes, as we have had extra windows and some moved, we now have foundations built and he wanted to clarify the structure and any changes we wanted before continuing as he will now continue with the building and we will have the next stage ready in about 4-6 weeks, he will email us with pictures, the changes were all written down and signed by both of us, as he feels it is better for all concerend that everyone knows and has agreed to it.

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
17/10/2007 23:49

hi lovelife

congrats on you buying

thats good tash the builder and you guys both agreed and signed to the changes i hope you also got this and contract noterized at the notary office adds a bit more security and peace of mind if changes dont go according to plan (not saying they will)

sorry i just want to help as much as i can like i would want help in situations i dont know!!!!

B&BLondon


Joined: 31/01/2007
Posts: 64

Message Posted:
18/10/2007 00:14

We bought off plan in April 2003, moved in a year later, a few hiccups, nothing drastic and yes its worth it - every time i put the key in the lock and walk in: every time i wake up to the sun shine, every time i practice my Turkish with the girls in our local supermarket, every time i share a coffee with my Turkish neighbours...iTS DEFINITELY WORTH IT!

grahamlil


Joined: 10/10/2007
Posts: 143

Message Posted:
18/10/2007 10:39

Hi, it is really good to hear from people that have have bought of plan and have had a good experiance and are now enjoying it.

I repeat the most friendly people I have met anywhere in the world