FOR SALE || PARKLANE TOWERS || 2 BEDROOM ||OFFPLAN || SWIMMING POOL ||LIFT || NYALI, MOMBASA This is the 22 project from the same developer. 17 complete while 5 on going. Welcome to Park Lane Tower - 2 bedrooms off plan apartments. Park lane Tower is part of a mixed development that boasts one of the largest facilities decks in Nyali. The entire apartment comprises 64 units of 2 bedrooms. The development is in a prime location in Nyali surrounded by all social amenities such as malls, schools, entertainment joints, hotels & religious centres . It’s unique features & amenities include 🔹Gated & Guarded environment 🔹Single entry point with security house 🔹Outdoor playground 🔹Swimming pool 🔹Spacious and well ventilated rooms 🔹High-quality tiles 🔹All driveways and parking's are cabro paved 🔹CCTV 🔹Separate parking for visitors Green Features; 🔹Stream pneumatic waste management system 🔹LED lighting for common areas 🔹Rain water harvesting for landscape 🔹Low e glass for units facing west direction 🔹Low volatile organic compound paint for internal only 🔹Cross natural ventilation in common corridor 🔹All bathrooms are designed to be naturally ventilated 🔹WC comes with a 3L/6L dual flash feature 🔹Electrical vehicle charging stations Walking distance to excellent public transport, thus reducing carbon footprint. #Payment Plan; 20% deposit. 80% payment construction period of 18 months #PRICE; FROM KES 7,500,000 ADVICE FOR BUYING OFF PLAN APARTMENT Buying off-plan apartments can be a promising investment opportunity, but it also comes with its own set of risks and considerations. Here are some factors to keep in mind when buying off-plan apartments: Location: The location of the off-plan development is crucial. Research the area's growth potential, proximity to essential amenities (such as schools, hospitals, public transportation, shopping centers), and overall desirability. Developer Reputation: Choose a reputable and experienced developer known for delivering quality projects on time. Research their past projects, financial stability, and customer reviews to gauge their credibility. Property Design and Layout: Carefully review the apartment's design, layout, and floor plans. Consider factors like natural light, ventilation, use of space, and overall functionality. Make sure the design aligns with your preferences and needs. Project Timeline: Understand the estimated completion date of the project and factor in potential delays. Delays can impact your plans and budget, so it's essential to have a realistic expectation of when you can take possession. Legal and Regulatory Compliance: Ensure that the developer has obtained all necessary permits and approvals from local authorities. Verify that the project complies with zoning laws and other regulations. Contract Terms: Thoroughly review the contract terms, including payment schedules, penalty clauses for delays, and any other obligations. Seek legal advice to ensure that the contract protects your interests. Payment Structure: Understand the payment structure, including the initial deposit, milestone payments, and the final payment upon completion. Make sure you can comfortably manage the financial obligations. Exit Strategy: Consider your exit options in case you need to sell the property before completion. Off-plan properties might be harder to sell before completion, so having a backup plan is essential. Market Conditions: Research the current and projected real estate market conditions in the area. Off-plan properties are influenced by market fluctuations, so it's crucial to gauge the potential for capital appreciation. Financing: Arrange for appropriate financing well in advance. Some banks may have specific criteria for financing off-plan properties, so be sure to check and secure your loan approval. Quality and Specifications: Understand the materials, finishes, and fittings that will be used in the apartment. Ensure that the promised quality aligns with your expectations. Hidden Costs: Factor in additional costs such as transfer fees, utility connections, homeowners' association fees, and taxes. These costs can add up and impact your overall budget. Risk Mitigation: Consider purchasing property insurance that covers potential risks such as project delays, quality issues, or unforeseen events that might affect the completion of the project. Resale Potential: Analyze the potential rental or resale market for the completed apartment. A property's rental yield and potential for capital appreciation are important for long-term returns on investment. Professional Advice: Consult with real estate professionals, legal experts, and financial advisors before making a decision. Their insights can help you make an informed choice, like Benford Homes. Remember that while off-plan investments can offer potential benefits, they also involve certain risks. Conduct thorough research, seek professional advice, and carefully evaluate each factor before committing to an off-plan apartment purchase.