Why buying off plan at Newinbosch is a savvy idea

September 20, 2024

Buying property off plan, instead of second hand, can be daunting at first. You cannot touch and feel what your buying, you’re unsure of whether you will get exactly what you were promised and other unknowns that could cause anxiety.

Firstly, it’s important to rest assured that the developer you are buying from is reputable. Similan Group is not your everyday developer – not only does it aim to build beautiful homes and a vibrant community at Newinbosch Neighbourhood Estate, but the development has also received its 6-Star Green Star Sustainable Precincts certification from the Green Building Council South Africa (GBCSA) in June 2024. The 6-Star rating signifies world leadership and innovation in the green building realm, making Newinbosch the first development on the African continent to achieve such a high rating. In addition, Similan Properties is set to be honoured at the African Property Awards on 17 October 2024 in London for Newinbosch Neighbourhood Estate. Similan will compete with top property professionals across Africa, to be recognised in the ‘Sustainable Residential Development’ and ‘Residential Development 20+ Units’ categories. The outcome of the regional awards will put them in the running for the prestigious International Property Awards.

Here are 5 key benefits to buying directly from Similan Group in Newinbosch:

1. no transfer duty

One of the major cost savings when buying a new home from a developer is the exemption from transfer duty. This tax applies to properties over R1 million and is calculated on a sliding scale, starting at 3% for amounts over R1 million. The higher the property value, the higher the transfer duty – but when buying from a developer, you skip this expense entirely!

2. VAT INcluded

When purchasing from a developer, the price you see includes VAT, making the process more straightforward. Unlike resale properties where transfer duty is an additional cost, often paid in cash, a developer sale offers an all-inclusive price. This means you can apply for a mortgage loan based on the total price, and if you qualify for a 100% bond, the VAT is covered in the financing.

3. brand-new everythINg

There’s nothing quite like being the first owner of a home – everything is new, unused, and spotless. New homes are designed for modern living, offering bright, spacious layouts that are a breath of fresh air compared to older, more confined homes.

4. lower operatING costs

When buying a newly built home from a trusted developer, you can expect minimal maintenance and repair costs for the first few years. New homes are built to modern standards, which often means better energy efficiency. From better insulation to advanced electrical systems like heat pumps, these homes are built to help you save on your monthly bills.

Newinbosch is EDGE Advanced (Level 2) certified which recognises homes that are at least 40% more energy-efficient and 20% more water- and material-efficient than conventional buildings.

EDGE-certified properties also qualify for a 0,25% interest rate concession from participating banks. Notably, ABSA offers clients up to an additional R55,000 cashback into their bond, and it is hopeful that the homes at Newinbosch will receive another 0.25% interest rate reduction thanks to the 6-Star Sustainable Precincts rating.

5. persoNAliSED Choices

Buying off-plan comes with the advantage of customisation. You can choose your fixtures and finishes from the developer’s selection, giving you a home that reflects your personal style without the hassle of outdated carpets or bathrooms. Plus, you can often select the best available unit, ensuring your home fits your preferences perfectly.

In conclusion, buying directly from a developer offers a range of significant advantages, from avoiding transfer duty to enjoying an all-inclusive price that can be fully financed. The excitement of moving into a brand-new, customised home, combined with lower maintenance and energy costs, makes this option highly appealing for modern homebuyers.

With the ability to personalise your space and choose the perfect location within the development, purchasing from a developer is not just a financial investment, but an opportunity to create a home tailored to your needs and lifestyle

Get in touch with us to choose your future home in Newinbosch Neighbourhood Estate from plan!

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