Buying off-plan means buying something that does not exist yet. So the brochure is not what counts. The contract, the construction schedule and what happens on handover day are. Here is what to check at each stage.
Before you pay the reservation
- That the project is registered and your payments go into a RERA-regulated escrow account.
- The estimated handover date in writing, and what happens if it is delayed.
- The exact floor plan of your unit: area, orientation, floor and included finishes.
- The full payment plan, with amounts and dates.
- An estimate of the annual service charge you will pay.
The sale and purchase agreement
Read the whole contract, not just the sales summary. Look at the delay clauses, at design changes the developer can make without asking you, and at the terms for assigning or reselling your unit before handover. If something is unclear, ask before you sign. Afterwards it is too late.
On handover day
The developer tells you when the unit is ready and asks for the final payment. Before you accept it, inspect it. You can go yourself or hire a professional inspector. Note every defect: paint, doors, taps, air conditioning, damp, appliances. Ask for everything in writing and for a deadline to fix it.
After you get the keys
Ask how long the defects warranty lasts and how to claim under it. Set up electricity and water, and start paying the service charge. From there you decide: live in it, rent it out or sell it. If you plan to rent, the sooner it starts earning, the sooner you recover part of your investment.