You finally have enough money in the bank to buy the home of your dreams. But unlike clothes, you can’t just walk into a store and browse for a home. So what do you do? There are generally three ways to purchase a property: directly from the owner, through an agent, or directly from the developer. While there are both advantages and disadvantages to each, here are 6 reasons for why you should buy directly from a developer.
If you don’t want to deal with constant maintenance issues for outdated appliances, renovations to get rid of the floral wallpaper, or fixing all of the hidden damages within the walls of the home, then you should look into a buying a brand-new property. Even if you don’t mind a home with some character, you will need to make eventual updates in order to sell it. Buying directly from the developer implies that the property is brand-new. You’ll also get the added bonus of owning a home with a modern design that will fit your contemporary lifestyle.
Have you always wanted stainless steel appliances and an island in the kitchen? Or maybe you want a view of the city. Everyone wants their dream home to be perfect, and the only way to make it perfect is to have more options to choose from. When you buy from a developer, chances are the property is still under planning or in the early stages of construction. This allows home buyers to choose their favorite location, layout, appliances, fixtures, and more. And remember: if you like a corner unit with a view of the sunset, you’re probably not the only one. So make sure to contact a developer before the sale rush begins.
Most people are not professionals when it comes to buying a home. If you are, you probably would not be reading this article. So you may be nervous and clueless on how to look for and choose a property. Agents are useful in that they will guide you through the process from searching for the right home to financing. However, let us not forget that their main source of income is the commission. The more expensive is the property, the more commission they receive if they sell. This might cause some agents to become biased and only introduce expensive properties to the homebuyers. If that is the case, the agent clearly does not have the home buyers’ best interest in mind. No need to worry though. All unbiased information can be found online. At NuProp, you can look through tons of options and directly contact the developer of your desired home — it’s easy, quick and free of charge!
Easy On Your Wallet
We’ve already talked about the possible financial cost of hiring an agent, but what about the benefits of buying from the developer? If you are Bumiputera, a civil servant, a business associate, or an investor interested in a bulk purchase, developers may offer a 5% to 10% discount.
Not any of the above? No worries – while the property is still under planning or construction, developers often times offer low introductory prices, approximately 70% of the sale price! This is to entice investors and potential homeowners to buy. Because the price of the property will increase as the project progresses, it is best to buy directly from the developer at an early stage.
But wait, there’s more. Maintenance fees for the first few years are covered by the developers and so are the legal fees. They might even throw in some free appliances and fixtures to make the purchase more enticing. Taking into consideration all of the discounts and savings, it’s definitely cost effective to buy directly from the developer.
If you’ve ever played the telephone game, you know how hard it is to relay messages from one person to another. By the time the message reaches the target, it is usually distorted with gaps here and there in the conversation. Speaking to a developer through an agent is like playing the telephone game. Hence, making direct contact with the developer is a more reliable communication method. You can ask for the developer’s opinions without the realtor censoring any of the conversation. You can also discuss the direction of the project (such as the layout of your unit) directly with the developer. The waiting period to hear a response is shorter and nothing gets lost in transmission.
Just as any brand-new appliance comes with a warranty, brand-new properties in development come with a warranty as well. Developers are obligated to add a warranty that covers a new property for 18 months. So if the faucet suddenly explodes and spews water everywhere like an active volcano, the developer will repair it free of charge.
So you’ve scrolled through the list and you’re convinced that buying property directly from a developer is the right choice. But where do you find these developers? You’ll be happy to know that getting in contact with a developer is as easy as 1, 2, and 3! Just check out NuProp for a list of newly launched properties offered by well-established developers.
Images: shutterstock.com, exclusiveconstruction.com.au, propertycluster.com, jobsaol.com