Ask An Agent

Market Insights
9 years ago
1 minutes

We've heard it before, but we'll say it again, research is the key to buying off-the-plan.

Marshall White's residential developments guru Leonard Teplin agrees.

"What is crucial to any purchase off-the-plan is to find out who you are buying from. What else have the developers, the builders and the architects done before?"

A simple google search, or a quick enquiry in to each of these will make you want to go with that developer, or for you to look elsewhere.

"Values are important too. It is imperative that you get to know the area/type of property you are looking for. much like you do for a real estate agent. Go out and see as many properties as possible - that way you get to know the value of property and their sales prices. You'll also become more refined as to the pro's and con's of a certain apartment, whether that anything from being on a main road, to having a north facing apartment", Teplin continued.

Melbourne has such a vast selection of off-the-plan apartments, and with so many apartments and areas to choose from, it can be difficult to alienate and isolate your preferences.

"Locations close to established infrastructure, local shops, public transport, parks and lifestyle amenities are extremely attractive. Side streets are now hard to build in with the new planning changes, so this may be the last opportunity an buyer has to own a brand new apartment off a main road!"

"If the location is close to family, friends, schools and work then that is also a personal and preferable factor to take into account. Buildings that do not offer stackers and half rubbish chutes on every level will continue to have a competitive edge as well."

Leonard Teplin is the head of Project Marketing at Marshall White.