Buying offplan

Old Jun 18th 2013, 6:44 am
  #1  
Lost in BE Cyberspace
Thread Starter
 
kittycat1's Avatar
 
Joined: May 2009
Location: Dubai
Posts: 5,965
kittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond repute
Default Buying offplan

Hi all,

In my search for a good buy to let property I have started looking into some offplan projects.

Has anyone any experience with buying offplan? Anything I should look out for and avoid?

Thanks

KC
kittycat1 is offline  
Old Jun 18th 2013, 7:08 am
  #2  
BE Forum Addict
 
Joined: Aug 2011
Posts: 2,536
mentalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond reputementalist has a reputation beyond repute
Default Re: Buying offplan

Please don't consider buying off-plan here.
mentalist is offline  
Old Jun 18th 2013, 7:10 am
  #3  
Account Closed
 
Joined: Mar 2012
Location: Dubai, working at Dust World Central
Posts: 3,708
mikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by mentalist View Post
Please don't consider buying off-plan here.


There are some horrific stories, I'll dig them out (or the links) once I get home.
mikewot is offline  
Old Jun 18th 2013, 7:12 am
  #4  
 
nonthaburi's Avatar
 
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,173
nonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond repute
Default Re: Buying offplan

make sure the developers don't need your money to finish the building !
nonthaburi is offline  
Old Jun 18th 2013, 7:17 am
  #5  
BE Forum Addict
 
Sandboy's Avatar
 
Joined: Jun 2008
Posts: 2,094
Sandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond reputeSandboy has a reputation beyond repute
Default Re: Buying offplan

I can't think of anything that could possibly go wrong tbh
Sandboy is offline  
Old Jun 18th 2013, 7:17 am
  #6  
Shark Fisherman
 
britexpat76's Avatar
 
Joined: Feb 2012
Location: Doha
Posts: 4,570
britexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond reputebritexpat76 has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by kittycat1 View Post
Hi all,

In my search for a good buy to let property I have started looking into some offplan projects.

Has anyone any experience with buying offplan? Anything I should look out for and avoid?

Thanks

KC
Research KC. My cousin just bought a 2 bed near Romford off plan and has probably made 20k before moving in. Plans always look good but go to the site and see how it will fit in with neighboring buildings and what views you will have.

You will have no issues with reputable developers in the UK and usually staged payments. I would recommend it but do the research of where it will be and how it will look finished.
britexpat76 is offline  
Old Jun 18th 2013, 7:21 am
  #7  
Account Closed
 
Joined: Oct 2008
Posts: 2,502
Ethos83 is an unknown quantity at this point
Default Re: Buying offplan

Did you cave in to your landlord and agree to the higher rent?

I want to know before I give you any more property advice.

Cheers
Ethos83 is offline  
Old Jun 18th 2013, 7:23 am
  #8  
Lost in BE Cyberspace
Thread Starter
 
kittycat1's Avatar
 
Joined: May 2009
Location: Dubai
Posts: 5,965
kittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond repute
Default Re: Buying offplan

Obviously not here- what kind of an idiot do you take me for?

Ethos it's under dispute at the mo so I haven't caved just yet!
kittycat1 is offline  
Old Jun 18th 2013, 7:29 am
  #9  
Account Closed
 
Joined: Mar 2012
Location: Dubai, working at Dust World Central
Posts: 3,708
mikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond reputemikewot has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by kittycat1 View Post
Obviously not here- what kind of an idiot do you take me for?
Phew!! Thought you meant here, UK can be OK depending on the developer.
mikewot is offline  
Old Jun 18th 2013, 7:33 am
  #10  
 
nonthaburi's Avatar
 
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,173
nonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by britexpat76 View Post
Research KC. My cousin just bought a 2 bed near Romford off plan and has probably made 20k before moving in. Plans always look good but go to the site and see how it will fit in with neighboring buildings and what views you will have.

You will have no issues with reputable developers in the UK and usually staged payments. I would recommend it but do the research of where it will be and how it will look finished.
So there are people who want to live near Romford !!!

Never been the same since Hollywood's went !
nonthaburi is offline  
Old Jun 18th 2013, 7:44 am
  #11  
Account Closed
 
Joined: Oct 2008
Posts: 2,502
Ethos83 is an unknown quantity at this point
Default Re: Buying offplan

Good.

Two advice when it comes to property:

1. Buy in the most upmarket area you an afford. More stable for a variety of reasons - higher income tenants are likely to be more respectful of the property and not treat it like shite.

2. Pay close attention to the catchment area the property is located in. The better the schools, the easier it'll be to rent out the property. Parents who care about good schooling are more likely to be the kind of tenants who will treat the property well.

Owning the property is half the story. The tenants are the other half. You want to do everything possible to get as reliable and responsible tenants as possible.

Another possibility is the buy-to-let for student accommodation, although there's a chance university enrolment will decline in the near future.
Ethos83 is offline  
Old Jun 18th 2013, 7:47 am
  #12  
WWLLCJD?
 
Scamp's Avatar
 
Joined: Feb 2011
Location: Dubai
Posts: 21,549
Scamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by Ethos83 View Post
Owning the property is half the story. The tenants are the other half. You want to do everything possible to get as reliable and responsible tenants as possible..
Good point. I had to meet my landlords once before they would 'accept' my ex and I as tenants.

It was literally 5 minutes of a chat and wander around the apartment and they were happy. Nice guys too.
Scamp is offline  
Old Jun 18th 2013, 7:51 am
  #13  
Lost in BE Cyberspace
Thread Starter
 
kittycat1's Avatar
 
Joined: May 2009
Location: Dubai
Posts: 5,965
kittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond reputekittycat1 has a reputation beyond repute
Default Re: Buying offplan

I'm just looking at a 1 bed flat in commutersville so young commuters who hopefully would have a bit of respect for the place...

I have looked at a couple of student places around essex university but obviously students come as high risk tenants.
kittycat1 is offline  
Old Jun 18th 2013, 7:55 am
  #14  
 
nonthaburi's Avatar
 
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,173
nonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond reputenonthaburi has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by Scamp View Post
Good point. I had to meet my landlords once before they would 'accept' my ex and I as tenants.

It was literally 5 minutes of a chat and wander around the apartment and they were happy. Nice guys too.
and they let you stay there !!!
nonthaburi is offline  
Old Jun 18th 2013, 7:57 am
  #15  
WWLLCJD?
 
Scamp's Avatar
 
Joined: Feb 2011
Location: Dubai
Posts: 21,549
Scamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond reputeScamp has a reputation beyond repute
Default Re: Buying offplan

Originally Posted by nonthaburi View Post
and they let you stay there !!!
I'm an impressive guy.
Scamp is offline  

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.