"Some people buy units 'off-the-plan' - that is to say - they buy them from the architect's plan before they are built.  But purchasing this way can be the proverbial "trap for young players".  There are a number of special points you should be aware of in relation to buying this way.  Here's a brief guide on what to look out for plus a few links to some other information resources that could assist."

When purchasing a unit "off-the-plan" (i.e. before the building has been completed), there are a number of things you need to attend to:

• Obtain as much information as you can from the real estate marketing company about estimated completion date, specific details of included fixtures & fittings in the unit and those in any recreation areas (i.e. gym room, sauna, etc).
• Carefully inspect the display unit
• Carefully examine the floor plan making special note of whether it has suitable living areas, balcony areas and room location.
• Does the layout suit your lifestyle?
• Will your furniture fit appropriately in the style of the unit?
• What are the proposed levies?
• Is it anticipated the levies will increase by the time the building is completed?  It might be wise to budget for an increase.
• How much variation in the size of the unit (as shown on the plan compared to the final size) has the vendor nominated in the Contract for Sale?  (e.g. The floor plan may show a total unit area of 110 m2 but the final size is only 98 m2)
• Is this variation (if any) acceptable?
• Are there any proposed restrictions on the use of any proposed facilities?