Premium Spaces: New Launch Landed Properties

1. What exactly are “landed properties”?

Landed properties refer to residential real estate where the buyer owns both the structure (house) and the land on which it is built. This contrasts with strata-titled properties like condominiums or apartments, where the buyer owns the unit but shares ownership of common land and facilities.

2. Can I customize a new launch landed property to my liking?

Often, with new launch landed properties, there may be some scope for customization. However, the extent to which you can customize will depend on the developer’s policies and the construction stage of the property. It’s best to discuss this with the developer early in the buying process.

3. Are there additional costs to be aware of when buying a new launch landed property?

Yes, beyond the purchase price, buyers should account for additional costs such as stamp duties, legal fees, possible renovations, and maintenance expenses for the landed property.

4. What kind of maintenance should I expect with a landed property?

Landed properties typically require more upkeep than apartments due to their larger size and individual structures. Regular maintenance includes landscaping, exterior upkeep, and potential repairs for private amenities such as pools or decks.

5. How does the resale value of landed properties compare to other types of real estate?

Landed properties often have a strong resale value due to their scarcity and the ownership of the land. They are considered a good long-term investment, although market conditions can affect resale values just like any other type of property.

6. What is the average completion time for a new launch landed property?

The completion time can vary widely depending on the size and complexity of the development. Generally, it can take anywhere from a few months to a few years from the time of purchase until the property is ready for occupancy.

7. Are there usually any restrictions on the sale or rental of new launch landed properties?

Restrictions can apply depending on local laws and the terms set by the developer. There may be restrictions on foreign ownership, or limitations on renting out the property within a certain timeframe of purchase. It’s important to check this before you buy.

8. How can I ensure that the developer of the landed property is reliable?

Do your research on the developer’s track record. Look at their previous projects, read reviews, and possibly speak to past buyers. It’s also wise to check their financial stability and any history of legal disputes.

9. What should I look for in the location of a new launch landed property?

Consider factors such as the quality of nearby schools, access to public transportation, proximity to amenities like shopping centers, and the overall charm and safety of the neighborhood. Additionally, think about your commute to work and the potential for property value growth in the area.

10. Is it possible to visit a show house or model unit before making a purchase decision?

Yes, most developers will offer a show house or model unit for potential buyers to view. This is a great opportunity to get a feel for the quality of the construction, the layout, and the finishes. Make sure to schedule an appointment with the developer for a viewing.