Nemati AI | Property experts reveal the biggest pitfalls to avoid with new build investments

The article highlights several key points and tips for avoiding common pitfalls when investing in new property builds:

Location Matters: Choose an established area with existing infrastructure like shops, schools, and transport rather than greenfield estates.
Builder Selection: Opt for a reputable builder with a good track record of delivering quality products on time. Avoid builders who offer provisional sums or hidden costs in their contracts.
Price Considerations: Ensure the cost of building is reasonable compared to buying an existing property, as building can create equity where purchasing might not due to premium prices.
Financial Planning: Be prepared for additional expenses such as interest payments during construction and potential delays that could affect your budget.
Warranties and Guarantees: Understand the warranties provided with new builds, particularly in apartment complexes, which may involve strata management issues.
Avoid Off-the-Plan Risks: Buying off-the-plan apartments can be risky due to long wait times and potential changes before completion.
Research Thoroughly: Don't rely solely on display homes for quality assessment; instead, look at previous builds by the builder.
Fixed Pricing: Ensure your contract offers fixed pricing without provisional sums that could

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Property experts reveal the biggest pitfalls to avoid with new build investments