Hi,

Im back again about off the plan condo, but like i said before its doing in my head big time.

Just want to know the hidden fee in an off the plan condo like:

Electric metre, sinking fund, yearly common manement fee etc

If any one could tell me the hidden price on the above plus any extras would be a great help as dont know how much i should put aside just in case

Cheers

Shannon

These fees aren't really hidden. They have all been written quite clearly on every price list I have ever seen.

They are variable from building to building, but 5-10k for the electric meter, 20-60B/sqm/month (often payable 2 years in advance on purchase) for maintenance are pretty common. Sinking fund will vary a lot from building to building also, but could be 100-500Bsqm.

Then you have the transfer tax and fees which are dictated by the government. These may be split between the buyer and the developer, or maybe not.

Then the furniture package, aircons, electrical items like TVs, fridges. These may or may not be extras.

These fees aren't really hidden. They have all been written quite clearly on every price list I have ever seen.

They are variable from building to building, but 5-10k for the electric meter, 20-60B/sqm/month (often payable 2 years in advance on purchase) for maintenance are pretty common. Sinking fund will vary a lot from building to building also, but could be 100-500Bsqm.

Then you have the transfer tax and fees which are dictated by the government. These may be split between the buyer and the developer, or maybe not.

Then the furniture package, aircons, electrical items like TVs, fridges. These may or may not be extras.

Thats mate for clearing it up for me, just thought their might of been other costs hidden

Cheers

These fees aren't really hidden. They have all been written quite clearly on every price list I have ever seen.

They are variable from building to building, but 5-10k for the electric meter, 20-60B/sqm/month (often payable 2 years in advance on purchase) for maintenance are pretty common. Sinking fund will vary a lot from building to building also, but could be 100-500Bsqm.

Then you have the transfer tax and fees which are dictated by the government. These may be split between the buyer and the developer, or maybe not.

Then the furniture package, aircons, electrical items like TVs, fridges. These may or may not be extras.

Thats mate for clearing it up for me, just thought their might of been other costs hidden

Cheers

On most new builds the buyer pays 100% of the transfer taxes which can be quite high .E.G,Park Lane 36 sqm ,one bedroom Condo .Had to pay around B82,000 plus Lawyer cost of B10,000 .Total around B92,000

These fees aren't really hidden. They have all been written quite clearly on every price list I have ever seen.

They are variable from building to building, but 5-10k for the electric meter, 20-60B/sqm/month (often payable 2 years in advance on purchase) for maintenance are pretty common. Sinking fund will vary a lot from building to building also, but could be 100-500Bsqm.

Then you have the transfer tax and fees which are dictated by the government. These may be split between the buyer and the developer, or maybe not.

Then the furniture package, aircons, electrical items like TVs, fridges. These may or may not be extras.

Thats mate for clearing it up for me, just thought their might of been other costs hidden

Cheers

On most new builds the buyer pays 100% of the transfer taxes which can be quite high .E.G,Park Lane 36 sqm ,one bedroom Condo .Had to pay around B82,000 plus Lawyer cost of B10,000 .Total around B92,000

there also might be hidden fee's IE courier costs for documents and certain lawyer fee's as quoted above...

if you opt into a rental pool for your condo, there can be a cost also for entering which i have seen on alot of developments

Best to get a letter stating CLEARLY all closing costs from the developer, then if anything extra pops up, regardless of how small you are covered... as some costs stated at purchase can be higher at closing which is the main thing to look out for

Transfer fees 7% but all costs are clearly stated at the bottom of price lists...water/electric meter, sinking fund and maitenance 12/24 months in advance