Buying into a residential estate can be a great way of acquiring a safe and secure “dream home” for you and your family. Choose wisely and you also gain a valuable asset.
You can either buy an existing house in the estate or you can buy a vacant stand on a “plot-and-plan” or “buy-to-build” basis. The latter gives you both added flexibility and (again, if you choose wisely) greater value.
Just be aware upfront of the building clause in your contract – be sure that you will be able to develop your plot by whatever deadline is imposed on you. A recent High Court decision illustrates the risk and the financial cost of not complying.
