Buying a home by investing in its construction has several advantages. These are more loyal prices, interest-free installments, and still, this is the primary housing, which in itself is an advantage: firstly, no one has ever lived in it before, and secondly, repairs can be made at your own discretion.
Against the background of the many advantages of investing in housing construction, there is also a significant number of risks that must be taken into account when making investment decisions.
So, the risks that should be taken into account:
- The possibility of delay in the construction of the house;
- The availability of all necessary permits for construction;
- Variability of investment schemes and the ambiguity of their contracts.
Let's analyze these risks for the possibility of their minimization.
Possibility of breaking the terms of construction of the house.
Commissioning of the house in a year or two after the declared line is a current trend in construction. It is practically impossible to predict or influence these processes. In our realities, these are the minimum risks that can be encountered when investing in the construction of housing. Therefore, if possible, the contract should include liability for failure of the agreed terms in the form of penalties.
Therefore, it is important to first understand whether the developer has all the necessary documents, which are determined by the stage of construction. And so, the stages of construction of a multi-storey building provide:
- reception of the initial data by the customer or the designer (town-planning conditions and restrictions, specifications, the task on designing);
- working out of the design documentation and carrying out of examination for objects of IV and V categories of complexity of objects;
- approval of the project documentation;
- performance of preparatory and construction works;
- commissioning of completed construction projects;
- registration of title to the real estate object.
Accordingly, there are documents confirming the legality of construction:
- Act of title to the land plot or land plot lease agreement;
- Registered declaration of the beginning of preparatory works and yas acre construction works on the objects of construction, and a copy of the permission of the state architectural and construction control body to perform construction works - concerning the objects of construction related to IV and V categories of complexity;
- Contract on connection of the construction object to engineering networks;
- Copy of the act of readiness of the object for operation, prepared on the basis of the certificate of the state architectural and construction control bodies on acceptance into operation of the completed construction objects of IV and V categories of complexity.
After the investor has taken into account the abovementioned risks and taken steps to minimize them, it is left to sign an agreement under ansam abu dhabi which money will be transferred in exchange for receiving the object of the agreement.