It’s easy for buyers to get overwhelmed at a display suite. They’re potentially about to embark on a pretty significant journey and there is a lot of information to take in. Walking in armed with a few of the big important questions is a great way to make the process as seamless as possible. We speak to developers, agents and some of the Coposit team to find out what advice they have for buyers visiting a display suite.
Are you a first-time homebuyer excited about the prospect of purchasing your dream property? One crucial step in the process is visiting a display suite, which gives you a firsthand look at the available options. This article serves as a comprehensive checklist to help you make the most out of your visit to a display suite. By following these guidelines, you’ll be equipped to assess the offerings, make informed decisions, and embark on your homeownership journey with confidence.
Before diving into the details, let’s understand the significance of a display suite visit. A display suite is a fully furnished mock-up of a property or development, showcasing the design, features, and finishes. It allows potential buyers to visualise their future home and assess the quality and suitability of the offering.
Start by conducting thorough research on the property development and the builder. Gather information about their reputation, track record, and previous projects. This knowledge will help you evaluate their credibility and determine if they align with your preferences.
Consider the location of the development in relation to amenities, transportation, schools, and other essential facilities. Evaluate its accessibility to your workplace and any future plans you may have. A well-located property will not only enhance your lifestyle but is also likely to have better growth prospects.
When you enter the display suite, pay attention to the layout and design of the space. Assess the floor plan to determine if it meets your lifestyle needs. Consider factors such as room sizes, storage options, and the flow of the space. Visualise how your furniture and belongings would fit in the given layout.
In a display suite, the first question you should be asking is why should I buy off-the-plan and why should I buy now? There’s a good time to buy off-the-plan depending on the cycles and there’s a bad time to buy. This is a good time to buy off-the-plan.
Tony Abboud – Property Partner at The Agency
Examine the finishes and features of the property shown at the display suite. Take note of the quality of materials used, the durability of fixtures, and the overall aesthetics. Look for features that align with your preferences and lifestyle, such as smart home technology, energy-efficient appliances, or luxury amenities.
A crucial aspect of any property is safety and security. During your visit, enquire about the security measures in place, such as surveillance systems, access controls, and on-site personnel. Evaluate the general safety of the surroundings, including well-lit areas and emergency exits.
Sustainable living is becoming increasingly important. Enquire about the energy efficiency features incorporated into the property, such as insulation, double-glazed windows, and energy-efficient appliances. These features not only reduce your carbon footprint but also contribute to long-term cost savings.
While visiting the display suite, gain clarity on the overall cost and affordability of the property. Enquire about the base price, additional charges, and ongoing maintenance fees. Ensure you have a comprehensive understanding of the financial commitment associated with the purchase. It’s a great idea to get some legitimate financial advice ahead of going into the display suite so you can have an understanding of what is within your price range and what additional information you may need to acquire from the sales agents.
They should be looking at who the developer is, who the builder is, the quality of the finish. In the display suite, we’ve got the model, we can light up the unit, we can go for a walk down the road and see the actual site, see what’s around.
Angelo Vassos – Senior Development Manager at FYVE
Owning a property comes with responsibilities. Enquire about the maintenance requirements and ongoing upkeep of the property. Understanding these aspects will help you plan for future expenses and ensure you can effectively maintain your new home.
During your visit, enquire about the documentation and contracts involved in the purchase process. Understand the terms and conditions, payment schedules, and any legal obligations. Seek clarification on any aspects that may seem unclear to ensure transparency and avoid future complications.
Discuss the available financing options with the representatives at the display suite. Enquire about mortgage providers, down payment requirements, and any special offers or incentives. Understanding the financing options will help you determine the feasibility of purchasing the property.
After visiting the display suite, take the time to compare it with other options you have considered. Assess the pros and cons of each property, taking into account factors such as location, design, features, and pricing. This evaluation will enable you to make a well-informed decision.
Consider seeking professional advice from a real estate agent or property consultant. They can provide valuable insights and guidance based on their expertise and experience. A professional can assist you in understanding complex terms, negotiating deals, and ensuring your interests are protected. We’re also always happy to help as much as we can; but it’s best to go straight to the source for property-specific enquiries.
One of the most important questions: why is this development for me? Why should I be investing in this project? For the buyer, it’s important that they can have the confidence and trust, not just in the project but also who they’re dealing with.
Eva Frketic – Property Partner at The Agency
Once you have gathered all the necessary information and insights, it’s time to make an informed decision. Consider your budget, lifestyle preferences, and future plans. Trust your instincts and choose the property that aligns best with your needs and aspirations.
Visiting a display suite as a first-time buyer can be an exciting and overwhelming experience. By following this checklist, you can make the most out of your visit and ensure that you gather all the relevant information needed to make an informed decision. Remember to conduct thorough research, evaluate the location, assess the design and features, consider affordability, and seek professional advice when needed. With careful consideration, you’ll be on your way to finding your dream home.
If you are a first-time buyer looking to get onto the property ladder, or if you’re interested in securing an investment property to grow your portfolio, download our app or visit our website and get started! With Coposit, owning your dream home or expanding your investment portfolio has never been more accessible. Take the first step towards achieving your property goals with Coposit and join the growing number of Australians who are revolutionising the way they buy properties.
Visiting multiple display suites allows you to compare different offerings and make a more informed decision. It provides a better understanding of the market and helps you find the best fit for your needs.
It’s a good idea to bring a notepad, a measuring tape, and a camera or smartphone to take pictures. This will help you remember details and compare different properties later.
In some cases, there may be room for negotiation, especially if the development is still under construction or there are multiple units available. It’s worth discussing pricing options with the representatives.
It’s essential to clarify all costs associated with the purchase, including additional fees, taxes, and ongoing maintenance expenses. Ask for a detailed breakdown to avoid any surprises later on.
Having a lawyer review the contracts is highly recommended. They can ensure that your rights are protected, explain any legal jargon, and advise you on the terms and conditions of the purchase.