A visit to the presentation centre can tip the scales in favour of one new development over another. The sales representatives are there to provide details of the new community. This can include viewing the building model where the project is located, learning about the neighbourhood, and walking through the display suite to get a feel for layout, features and finishings. The representative will provide a brochure about the project with detailed floor plans for you to take home and review. Beyond all this, here are some questions you should ask:
Q. What’s included in the base price?
A. As you are being guided through the display suite it is best to understand what features are included and the items that are considered an in-home upgrade so you can factor this into your decision and budget. This is a great opportunity to ask about the building’s parking, bike lockers, storage and/or car share programs, all the features of the home, construction questions and anything that is important to you and your buying decision.
Q. What colour schemes are available?
One of the benefits of pre-sale projects is that you can choose the colour coordination of your home. Most new developments, depending on how far out the project is to completion, will allow buyers to choose from two or three colour schemes for their home which has been pre-set by an interior designer with consideration for cabinet colour, flooring and/or wall paint. Ask about other optional or upgrade features that you may be able to select from such as built-ins or appliance options.
Q. When is construction and completion expected and what is the deposit schedule?
A. Be prepared as average construction for projects is two to three years. The benefit of pre-sale is that it allows homebuyers time to plan comfortably for their new home, save money before completion, and pay off their deposit based on the terms outlined by the developer. Most pre-sale projects will require somewhere between 15-20% total deposit paid in segments so make sure you are comfortable with the schedule and amount.
Q. What is the strata fee and are there any amenities included?
A. The sales representative will let you know the estimated average price per square foot and what is included such as utilities, air conditioning and if there are any amenities. Amenities can provide added value in your home and may save you a fitness membership for example if included in your home. You can then factor in the monthly strata fee to your home finances.
Q. What units are available and where are they located?
A. Find out which homes are available from studios to three bedrooms to floor number, views, orientation (north, east, south or west) to location of the sunrise and sunset. The sales representative can walk you through the homes available based on your preferences.
We recommend bringing a friend or family member with you to the presentation centre to share in the experience and help with your decision-making process. Plus, with two or more people you can be sure to ask all the necessary questions to get a complete understanding of the pre-sale process and all the great home features.