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If you’re sitting on the fence about purchasing versus renting this year, begin with doing your homework. Here are some handy tips to make your decision easier:
When purchasing completed properties for self-use:
For an off-plan purchase, the developer track record of delivery, association of some lenders for the project can help give an idea of the proposed development. Also, the investment potential of the project (expected rental yields), among other factors must be considered for an off-plan purchase. As with all high value purchases, the fine print of the sale agreement must be studied, especially in relation to the recourse buyers will have if project is delayed or even stalled.
There are some common mistakes made by first time buyers and it is important to steer clear of these at the outset:
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