Buying off-plan means acquiring a home before or during its construction, based on the developer's plans. The formula is appealing for its entry prices and for being brand new, but it calls for care. Here is what you need to decide with confidence.

The principle

You sign a contract with a developer for a property that does not yet exist, or not fully. Payment is usually staged according to the progress of the works. On delivery, you receive a new home, built to current standards.

The advantages

• A price that is often more attractive than an equivalent property already built.
• Brand new: modern layout, less maintenance in the short term.
• A payment spread over time, easier to finance.
• Sometimes the option to customise certain finishes.

The risks to know

• Delivery delays: the announced schedule is not always met.
• The gap between the plans and the final result (areas, materials, fittings).
• The developer's soundness: a site can stop if the backer defaults.

Precautions before signing

• Look into the developer: projects already delivered, reputation, track record.
• Have the contract reviewed by a professional: deadlines, late penalties, guarantees, payment schedule.
• Check the permits and the status of the land before any payment.
• Keep a written record of every commitment and every payment.

The exact rules for off-plan sales vary from one country to another. Get support from a notary or a verified professional in your city before you commit.

Well prepared, buying off-plan is a fine gateway to new-build property, in Lomé as in Abidjan.