What to consider when buying an off-the-plan apartment
20/12/2023 | Apartments & Developments
There are a few things to consider when buying an off-the-plan property – a residence purchased before construction is complete or has even started. Though it’s exciting that you’re purchasing a brand-new home that’s never been lived in before, there’s more to consider to ensure this is the suitable purchasing method for you.
Firstly, research your prospective property developer. A good developer can determine whether your off-the-plan residence will meet your expectations. Take AURA by Aqualand – an exquisite off-the-plan apartment project in North Sydney, for example. With developer Aqualand boasting a great track record of producing quality developments and an excellent reputation in the industry, you can rest assured your apartment here will be built to the highest standards.
Another tip is to understand the contract of your purchase. For apartment developments such as AURA, you will likely be presented with a one-part contract, where you will pay a 10% deposit upon signing and then the rest of the balance after the building process. If need be, seek independent legal advice before signing the contract.
Thirdly, find out the development’s completion date from the developer. This is so you know how long away the residences will be ready and, later down the line, when to start preparing to move into your new home.
Lastly, visit a display showroom! This is especially true when buying off-the-plan to experience the look and feel of your future home.
Just opened this month is AURA’s stunning display residences. Due to continued progress and the nearness of construction being completed on the development, these apartments are within the building itself, meaning you can truly visualise what it’s like to live there.
We spoke to the design team behind the project’s display apartments to give you an inside scoop into these residences and just why visiting them is so crucial to the buyer journey.
Styled by the professional design teams at Space Furniture and Poliform, AURA’s five display apartments comprise one and two-bedroom layouts. Located on the development’s sixth floor, you will be able to experience these different floorplan types and have a feel of which caters best to your lifestyle and preferences.
We spoke to David Hartikainen, Head of Interiors and Business Development at Space and Poliform, Asia Pacific. When asked about the key design principles that guided the team’s styling of these display apartments, he replied, “A commitment to elegance and functional simplicity.
“We carefully considered the AURA purchaser, who they are, and how they will live here.
“We have created five very different apartments, each with its own personality that aims to relate to the different buyers of AURA, yet with a consistent and harmonious colour palette that complements the high quality of materials selected.
“These principles are collectively aimed to create a visually stunning and comfortable living space for the residents, a place where you can easily imagine yourself living.”
Overall, the team sought to create a sense of home. And they did this by catering to a wide range of buyer lifestyles.
“From the smaller apartments, we have created an accessible design solution that will appeal to investors and perhaps younger buyers looking for high-quality, design-led solutions they can build on,” explained David.
“Conversely, we also have created very luxurious solutions that would appeal to downsizers and empty nesters who are moving into their new home, tailored to their style as they embark on the next stage of their lives and can now invest in themselves.
“Every client is different, and we have tried to celebrate this with the five different solutions.
“We hope each AURA buyer resonates with one – and if they don’t, we can still definitely help them find their space.”
With furnished living rooms, bedrooms, and dining areas, you can easily choose which apartment type is the right fit for you. On display are collections from some of the world’s leading furniture brands, including Italian brand Baxter, whose tactile sofa and Lazy Bones chair add a refined elegance to the apartment. Industry trailblazer B&B Italia’s best-selling Camaleonda sofa and distinct Lens table also feature along with Arflex’s iconic Strips sofas by Cini Boeri.
Positioned on different aspects of the sixth floor, each of AURA’s display apartments showcases the different vibes the building offers. Step into the South and Southeast facing units, for example, and you will capture stunning harbour and district views.
Beautifully styled, Space and Poliform have created stunning spaces out of AURA’s display apartments – a look into what your future North Sydney residence can look like.
“The display apartment is the client’s first tangible engagement with what may be their new home, new suburb, and potential new life,” said David.
“If done well, it should make an emotional connection with the client and is the best communication tool for the developer and the architects to share their vision for the building and demonstrate the quality of their product.
“The focus should be on capturing the details that make a building like AURA special and instantly make the client feel at home.”
AURA’s display residences are now open on the development’s sixth floor. With five apartments of different floorplans and styling on show, you can catch a glimpse of your future home with this exciting new opportunity.