Building your own home or investment property is an exciting prospect as it ultimately means you have more control over the final layout and design. There are a few key things you need to consider throughout the process, however, to make sure you get the most out of your investment.
Let’s break them down.
Buying off the plan or building a new property on an existing lot is an excellent chance to get a foothold in a desirable area. Do your research on other properties in the suburb to find candidates with high growth potential to maximise your investment. Many real estate sites offer property sales reports which can offer a good starting point for your research.
When vetting potential construction companies consider your options carefully. Ask to see detailed layouts for their off the plan properties and make sure to inspect a display home to visualise what they’re offering. You don’t want to commit to a contractor only to later discover they’re unreliable or cut corners during the construction process. This is where online reviews and word of mouth are you biggest ally!
One of the biggest advantages to building a new property is the ability to work with the architect to customise your design. Even when buying off the plan, you can often make a number of bespoke design choices to suit you or your investment requirements. Work closely with your contractor to see what’s possible and ensure your layout has longevity for future living needs.
Also known as a Practical Completion Inspection report (PCI), a handover report provides a detailed overview of a property’s condition after it’s just been built. This report not only analyses the structural integrity of the dwelling, but it also looks for any defects or imperfections that don’t live up to the original plan.
This is immensely important as it safeguards you from signing off on a property that doesn’t meet the standard promised. Identifying any damages or issues before settlement will allow you to resolve further out-of-pocket expenses by having the contractor fulfill their obligation.
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Our team come backed with years of experience conducting detailed handover reports throughout Brisbane and beyond. Speak to us today about organising an obligation free quote or for any questions on our services.
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