What to ask before you buy off plan

Buying off plan means signing for a home that does not exist yet. Done properly it is the best price you will get on a new home, because you are buying before the development is finished and the show house is busy.

Ask three things before you sign. First, is the home enrolled with the NHBRC? Every new home must be, and it is your protection if something is wrong with the workmanship. Second, where is your deposit held? It should sit in an attorney's trust account, in your name, earning interest, until transfer. Third, what happens if the bond is declined? A properly drawn agreement makes the sale conditional on your bond being approved, and gives you your deposit back if it is not.

The answers should be in the agreement, not in a conversation. Any developer worth buying from will put them in writing without being asked.