The potential to secure early buyer discounts while development work is ongoing can make off-plan property investment an attractive option for buyers who are looking to achieve capital growth on real estate investments in the UK.
Like with any venture of this kind, there are risks to take into account. Considering that you’re investing in a property that is yet to be built, you might have concerns about the development running late or going over budget, or about the quality of the finished build.
If the management of the property will be entrusted to a dedicated company, it’s natural to want reassurance over how good a job that firm will do.
It’s for these reasons that working with an established, reputable developer and an experienced management company are two of the wisest steps you can take to gain peace of mind and maximise your chances of off-plan investment success.
Knowing that the asset you’re investing in is being delivered by a developer that has plenty of past experience in the sector, and has executed projects on time and on budget many times before, will give you welcome reassurance that the build will be completed as planned.
Doing some due diligence checks and looking into the development firm’s track record and past experience is definitely advisable.
You can also look out for warranties and protection like the NHBC Buildmark scheme, which helps to assure the quality of new-build homes.
Where the management company is concerned, you can apply the same principle as with the developer – going with a stable, long-standing firm and looking into its history and past projects.
With income-assured investments, you can take confidence from the fact that developers can step in and resolve any serious quality issues that arise with the management company.
By taking a proactive approach and conducting thorough checks on the developer and management company involved in your off-plan property investment, you can give yourself the best possible chance of success and profitability.
To find out more about UK property investment and some of the opportunities currently available in various sectors, contact Experience Invest.