How to read a brochure
There is a lot of interesting information in a property brochure. A lot of effort is put into creating one. Buying a house is a life-long commitment. It may take up to 35 years to pay off a home loan. Perhaps it is time to pay a bit more attention when reading one.
What kind of information is featured in a property brochure?
- Project name
- Artistic pictures
- Developer’s name
- Contact details
- Show room location (Important: visit the show room and the site)
- Private sanctuary
- Artist’s impression
- Built-up area – (Landed area + built-up area) – Landed property
- Open for registration
- Floor plan (fit for purpose)
- Specifications (e.g. marble flooring)
- Property prices • Incentives by developers
- Facilities like strata properties
- Site plan
- Key plan It is all about perspectives: Note the small imprints
- Developer licence
- Authority and sales permit (validity period)
- Authority approving Building Plan Numbers
- Land encumbrances (Free from encumbrances, interest registered to it)
- Expected date of completion – Landed property/non-strata residential from developer: 24 months from date of signing of the SPA – Condo (strata): 36 months from date of signing of the SPA
- Total number of units and people staying in that community
- Tenure of land freehold or leasehold)
- Price of Bumiputera discount
- Restriction in interest
- Leasehold expiry date
- Gated and guarded development (strata, landed, condominium)
- Low down payment
- Free legal fees on SPA
- Partly furnished
- Number of car parks If there are ‘asterisks’ featured in the brochure, it is time to ask the developer some questions.
Should I keep the brochure?
Yes, because it is proof of representation and promisde of deliverables made by the developer.
DISCLAIMER: The opinions stated in the article are solely those of Chris Tan and are not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.