There has been a significant increase in the selling of new property developments off plan. My analysis has always been on resales, but I do offer you the following advice if you are looking to invest in a new development.

Scrutinize the document to see if it permits you to resell your investment prior to transfer and if so are you are able to appoint your own real estate agent to sell your own property or must you use the developer's agents who would rather sell the developer's property first than yours first.

Make certain you find out what the mix is of speculative investors compared to owner-occupied properties is. I feel strongly that if one invests in a property that is less than 80% owner-occupied, you are asking or even begging to lose your money.

That's because the more speculators, the more homes are available to rent or for sale at any one time. And I trust you still believe in that ubiquitous law of supply and demand which is very much applicable. Too many properties for rent drives down the prices and with too many resales available, prices will not appreciate. And of course we all know that properties that are rented out are never as well maintained as owner-occupied homes are.

Also be careful to read the sales agreement thoroughly and to not just read what's in it but rather to also concentrate on what has been left out. Believe me, the property developer and his lawyers spent an awful lot of time writing the agreement and you should spend suitable time to read and understand it. Otherwise, you'll be surprised to find out later that such bathroom items as towel racks and mirrors are often not included. You'll soon notice that your kitchen and or bathrooms are not tiled to the ceiling as you expected them to be. Find out the height from floor to ceiling and compare that to where you are currently living. If you're tall, you could be spending a lot of effort ducking around your new property.

The quantity and quality of the items included are both key ingredients. For example, there may be only one television point connection provided for and adding more later will be both expensive and often unsightly.

The best way to check to see what is left out is to compare the listing in the sales agreement to those items in a similar room in your present house. For example, when looking at your current room see if curtain rods are included, how many lights are included and where will they be placed, how many plug points do you have in your lounge now compared to how many you will be getting or actually need. Look at your room and see if these items are on the list of items to be included in the sale.

Find out what the allowances are for changes to floors, cupboards and other items. If you do not include these changes in your purchase agreement, you'll have to pay for them before taking transfer.

And also enquire what your developer charges to make changes. Some developers charge a flat fee of 15% others charge you for the professional time of their architects and quantity surveyors which may be far greater than the cost of the item being changed.

And most importantly, don't naively believe because the selling document looks so professional and neatly typed that you cannot make changes to it. You always have the right to negotiate and don't be intimated or feel the rush of the pack herd to the property, they could all be headed to the slaughter house!