Buyers 'should avoid unfinished properties'

Posted: 09 Jun 2011 10:48:41 GMT

Houses that have not yet been completed should be avoided.

Buyers should not be tempted by houses that have not been completed, as such abodes could prove problematic.

Dr Dennis Coote, founder of The Hampshire & Home Counties Property Networking Club, warns some people have experienced cases where they have paid a deposit for a house and the developer has then gone bankrupt.

These "awful" stories are not a rare occurrence and Mr Coote says he would never advise paying for a property unless it is finished.

He continues: "There's lots of stuff in Spain [for example], where developers are saying, 'It's cheap, you can buy it off-plan'."

But those who do purchase these houses need to be there to see the work completed, which is not always possible.

Brian Berry, director of external affairs at the Federation of Master Builders, recently warned many householders have lost confidence in the market, which has had a negative effect on construction.

He suggested there could be a certain level of stagnation across these sectors at present.
 

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