Key questions to ask when visiting a display suite
It’s easy to get overwhelmed when you visit a display suite; these beautifully styled spaces offer an enticing look into what the future could hold. And while it’s an experience that should definitely be enjoyed, you need to go in with a clear agenda to help you decide if this is the off-plan purchase for you.
So step away from the suite’s perfectly styled cushions and shiny appliances and ask the agent the following questions.
Get to know the team behind the development
1. Who is the
- developer
- architect
- landscape architect
- builder
2. Can you tell me about other developments that this developer has finished? How do they compare to what was promised?
3. Who will be my main point of contact throughout the buying process? How often will I hear from them?
Learn about the building as a whole
4. What communal amenities will be included?
5. Is there a restricted-access car park and what is the street parking like?
6. Are the lifts, lobby and any other common areas restricted access?
Understand the options for the specific apartment or townhouse
7. Am I able to alter the floor plans?
8. Are there any fixture and fitting upgrade options?
9. Where does this specific property sit within the development site?
10. What colour schemes can I choose from?
“You can visit a display suite as many times as you need to get an understanding of the project and make sure it’s going to be the right fit for you. There’s always the option to book a private viewing, as the agent can sometimes be quite busy during inspection times.”
Holly Smith – Real Estate Agent
Understand the financial aspect
11. At which stage will I pay my deposit?
12. How much is the initial deposit and can it be invested?
13. If I pay a deposit, is it secure if something happens to the developer?
14. Is the developer offering any incentives or discounts?
15. How much are the strata fees?
Know what the development timeline is
16. Is this development DA approved?
17. When is this development slated for commencement and completion?
18. When I move in, will the development be 100% completed or will construction continue?
19. What happens if my apartment isn’t completed on time/when is the sunset clause?
20. What happens if I don’t settle on time?
“At times there will be incentives a developer will offer for that specific project, such as part deposit repayments, gift cards, furniture packages or blinds packages. Always ask the agent if there are any offers in addition to government incentives.” says Holly.