Buying a new home represents a new and exciting chapter in your life. If you’re a first-time home buyer and you’re buying off-plan, you may find all the administration, paperwork and new responsibilities overwhelming if you don’t understand the reason for them or how they all fit together.
Cosmopolitan Projects, one of South Africa’s largest developers of affordable housing, offers a handy checklist of essential tips associated with buying a home off-plan:
At this stage of the transaction, it is important to note that there are two types of home loans:
If you are in any doubt at the time of signing up, set a time to meet with the developer’s agent or marketing manager and clarify any queries you may have upfront and what your responsibilities are. With all the formalities and administration out of the way, you can relax and enjoy your new home and the making of many happy memories with your family and loved ones.