Property Question

[flatsix]

Hi,

I'm thinking of buying an off-plan log cabin in Canada (Quebec) with a view to lease it back to the developing company for rental.

I'm currently putting together a few questions to ask the developer but I'll probably forget something salient.

Have anyone here had any experience buying off plan, particularly abroad/in Canada? What should I watch out for and what questions should I be asking.

Many thanks for any help!

[alfaman]

There is a bit of "history" in some places (e.g : Spain) of off-plan dev's being sold to foreigners above the real market price that locals would pay - buyers are used to UK prices and think they are getting a bargain .

I would want to check out the local "pre-owned" property market prices and market liquidity as a check.

>> Edited by alfaman on Saturday 8th January 09:43

[shirley temple]

surely if there was money in this, the property developers would keep them and rent them themselves?
A friend of mine went to work in Canada, some of his mates sold thier homes in the UK and 'snapped up' bargain properties there, and are now struggling to sell as it hasn't worked out for them. The property market would seem to be very stagnant over there.

Do some serious research before comitting yourself

[james_j]

As Alfaman says, beware of thinking you're looking at a bargain just because it looks so much cheaper than UK.

Obvious maybe, but plenty of research as if using the eyes of a local is wise, for example, by looking at used prices with local real estate agents. I've seen many overseas property developments targetted at the British and prices ssem a bit "British" but a bit cheaper so as to appear attractive....but not cheap enough...