When off-the-plan isn't the plan, these developers will make it work

Developer OpenCorp was prepared to make a few changes to its off the plan Evolve apartments in Chermside when they began marketing to owner-occupiers. Director Allister Lewison said he thought the apartments were well suited to owner-occupiers sight unseen, but most buyers had at least one request. 

OpenCorp knocked neighbouring apartments together, upgraded kitchens, added car parks, and changed floors and other decor options. “If you get in early enough, anything is possible,” Mr Lewison said.

The flexibility was appreciated by would-be buyers. “It was overwhelmingly well received by owner-occupiers,” he said.

OpenCorp was open to the changes to boost sales and buyer satisfaction. “We had this view that the buildings that we build are where they’re going to make memories,” said Mr Lewison. 

CBRE Residential marketing executive Eric David worked on the DeMartini Fletcher project Enclave in Brisbane’s west, and said there was record interest in the 60-home development.

He believes that’s because the developer worked to build an accommodating project, but was also willing to work with new buyers to meet their needs post-sale.

“Enclave has been ‘future-engineered’ taking into account the demands of the future in terms of accessibility and technology,” said Mr David. “The market we are currently in no longer allows projects to be ‘investor orientated'”, which are often inflexible and lower quality.

Buyer advocacy agency Secret Agent said if an apartment met as many of a buyer’s criteria, it could give prices a big bump.

The group was commissioned to investigate the viability of Victoria’s new housing standards and it found buyers were willing to pay more for apartments that were less pokey, and had natural lighting and ventilation.

But researcher Jodie Walker said if buyers wanted the perfect apartment, it was better to leave developers behind altogether.

“If you’re a buyer just stay away from those types of apartments,” she said. Negotiations can be hard and developers can’t usually add the most desirable features: a balcony or a view.

“Most of the buyers I speak to don’t want to buy off the plan for that reason,” Ms Walker said.

“A lot of people like the idea of moving to the city or those areas but there aren’t any options available to them because they don’t want to live in a shoebox.”