A showflat is newly-built housing unit that is dressed up for selling purposes. As expected, it is aesthetically grandeur because it is packed with furniture, décor, and lighting, all of which are most pleasing to the eye.
But you have to be warned. Not everything you see on display is exactly the same with what you will get. Here are five things you need to consider before visiting one.
Investigate the Developer
A house is a serious investment. But too many times, people make purchases without investigating about the background of the real estate developer. In a show gallery, everything will look fantastic.
Sadly, you are not likely to get the same quality of unit once the developers hand you the keys. The worst that can happen is for the project to come to a standstill because of lack of funding.
Know as much as you can about the developer’s background, its leaders, past projects, legal compliance, and whether the clients who bought the properties are happy.
Find the Exact Location of the Units
Not all show suites are located where the actual units are. This makes sense because it is too dangerous for people to visit a gallery while the construction is ongoing.
Most shows are placed in the heart of the city. One would think that this is where the unit is also being built.
Find out the exact address of the house or condominium unit. Visit the neighborhood and determine how close you are to life’s necessities.
Things you may want to look for are the unit’s proximity to the following:
- Market or grocery
- Police, fire, and hospitals
- Transportation hubs
Determine Your Buying Power
It will not make sense to visit a showflat if you have no idea how much money you have to make a purchase. You are not even in a position to negotiate.
One of the things you need to do before a visit is to identify how much money you can loan from a bank if you are financing the purchase.
You also need to know how much down payment is expected of you. Determine the annual interest charges and do the math.
This is important so you can make a smart decision about your money and not be carried away with your impulses.
Get the Floor Layout
A show gallery is often misleading, not because the real estate agent and developers are lying but because the interior designs are done well.
Get the floor lay out from your broker before you even visit the house. This should tell you the measurement of each room and their respective locations.
You must know that the layout always makes the house look big. Get one that has measurements and mimic these measurements in your own backyard. If you do, you will have a tangible idea how big the rooms are going to be.
Ask Yourself If It Is the Right Kind of Unit
Not everyone is made to live in a condo. And some love nothing more than to be in it. All real estate brokers have a reason to complement your desires. But at the end of the day, the kind of house you are buying must match your intents.
Before you even visit a showflat, determine if that unit will serve your purposes. If you are merely purchasing the unit as an investment, then it may be worth your while to go and visit, provided you have done a good investigation about your possible financial returns.
If your dream is to buy a grounded property, then it does not make sense going to a show gallery that is dedicated to condominium units.
Purchasing a house requires more than money and desire. You need to be smart about your decisions. And the only way to do this is by being prepared before you even visit the show. Do your due diligence and it will pay off.