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 House-hunters take a tip from investors

 

Tuesday, November 22, 2005


Buying off plan is no longer just the domain of investors, reports Linden Homes, who now make 62.5% of their off-plan sales to owner-occupiers with only the remaining 37.5% going to investors.

Driven by a desire to ‘cherry pick’ their ideal plot, homeowners are determined to stake a claim on their dream property even though it does not yet exist. In response to this demand the developer has launched Connections, their own customer database programme through which they manage all off-plan enquiries for Linden sites as the land is acquired. The firm says that in the first three months alone they have sold 31 properties off-plan, demonstrating the demand for off-plan purchases.

Not only are customers able to choose the plot they want with the best views, perhaps facing south or furthest from a road, but they are also able to select their preferred fixtures and fittings including carpets, tiles, kitchens and flooring and even upgrades on specification.

Philip Davies, Chief Executive of Linden Homes commented: "Traditionally the domain of professional investors, off-plan purchases are becoming more attractive to owner-occupiers who are less daunted than they used to be about buying something they can’t see."

"The procedures in place are now more or less universal and follow a well-established system that will take customers along a clearly marked path from initial perusal to final possession."

In a rising market it can be an excellent investment to buy off-plan, buying a property at this year’s prices that will have gained in value before the customer has even moved in. Off-plan buyers manage to totally bypass the threat of being gazumped experienced by many second hand customers and the house will be at the end of the selling chain.

There is no need to spend months viewing other properties – instead customers can just look at the plans and visit the site. And after putting down their reservation fee, they can take their time before arranging a mortgage and selling their current home, whilst experiencing the thrill of watching their own house being constructed.

The developer intends to maximise on this growing trend towards off-plan home buying by developing Connections further across all their regions in 2006.

 
 
     
     
 

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