For many first-time homebuyers, a real estate exhibition can feel like an information maze—a dazzling array of properties, dazzling promotions, and a flurry of technical jargon. A moment’s hesitation can lead to a difficult decision. The key to visiting a real estate exhibition is efficient screening and accurate pitfall avoidance. This article will help you prioritize your thinking and navigate the exhibition with ease.
What preparations should you make before a real estate exhibition?
Clarify your budget and prioritize your needs
Budget: Determine a price range based on your household income and debt tolerance (it’s recommended that monthly payments should not exceed 30%-50% of your income). For example, if your household earns 20,000 yuan per month, you might consider properties priced between 3 million and 5 million yuan (based on a 30-year loan).
Prioritize your needs: List your “hard needs” (such as school district, subway station, and apartment type) and “soft needs” (such as landscape and property), prioritizing the top three. For example, if your child is about to start school, the school district should take precedence over the apartment’s orientation.
Gather information about the target area
Regional planning: Understand the area’s positioning (e.g., commercial, residential, or industrial) through government websites and planning exhibition halls. For example, if a new district is designated as a “Science and Technology Innovation Corridor,” it may attract high-income individuals and drive up housing prices.
Amenities: Conduct on-site inspections to assess surrounding transportation (subway opening date), commercial facilities (proximity to supermarkets and shopping malls), and medical services (access to tertiary hospitals). For example, if a property advertises “subway access 500 meters” but is actually a 15-minute walk, verify this carefully.
Prepare a list of materials
Documents: ID card, household registration booklet, marriage certificate (marriage certificate required for married individuals), proof of income (with employer stamp), bank statements (for the past six months).
Tools: Notebook (to record property information), mobile phone (to take photos of floor plans and simulation tables), power bank (to avoid running out of battery).
How to efficiently browse properties at real estate exhibitions?
Which booths should be prioritized?
Brand-name developers: Leading real estate developers like Vanke, Poly, and China Resources generally have strong capital chains and a low risk of project failure. For example, in 2023, a small developer halted construction due to a lack of funds, while branded real estate developers had a project delivery rate exceeding 95%.
Regional Benchmark Projects: Properties with high sales and a good reputation within the same area often represent market recognition. For example, a “top-selling project” in a certain area boasts a pre-sale price 10%-15% higher than surrounding properties due to its well-designed floor plans and comprehensive amenities.
What key questions must be asked?
Property Type: Taxes, fees, and loan policies vary significantly for residential properties (70 years), apartments (40 years), and commercial properties (50 years). For example, apartments require a 50% down payment and cannot be registered as a hukou.
Delivery Time: Clarify whether the property is “nearly ready” (already topped out) or “off-plan” (requiring 2-3 years). If purchasing a pre-sale property, verify the developer’s escrow account compliance.
Property Fees and Services: Property fee standards (e.g., 3 yuan/m2/month) and service content (security, cleaning, and repair response time). For example, a residential complex with low property fees but poor service has led to depreciation of pre-sale properties. 3. How to Identify Promotional Traps?
The Truth About “Special Offers”: Some discounted units may be located on the ground floor or top floor, or near garbage stations or power distribution rooms. For example, a property with a “20% off special offer” may actually be a north-facing unit with very poor lighting.
Risks of “Down Payment Installments”: Verify whether the developer is providing advance payment (which may involve high interest rates) or a formal bank installment plan (which requires verification of qualifications). For example, a homebuyer who chose an informal installment plan later faced legal disputes.
How to Decision After a Housing Exhibition?
Compare Properties on Three Dimensions
Value for Money: Price per square meter x Area vs. Prices of Similar Properties in the Neighborhood. For example, a property may have a price of 20,000 yuan/m2, but offer a 10% bonus area, resulting in a real price of only 18,000 yuan/m2.
Value Appreciation Potential: Pay attention to area planning (such as subway extensions and school openings) and supply and demand (inventory turnover cycles). For example, in one area, due to plans for three new schools, housing prices have increased by 8% annually. Living Comfort: Floor Area Ratio (less than 3.0 is more livable), Elevator-to-Unit Ratio (2 elevators, 4 units is better than 2 elevators, 6 units), and Parking Space Ratio (1:1.2 or above). For example, in a high-density residential complex, elevator wait times can exceed 10 minutes during peak hours in the morning and evening.
When is the Best Time to Order?
First-Time Offer: Most properties have the lowest initial launch price, with prices increasing on a building-by-building basis. For example, one property had an average initial launch price of 15,000 yuan/㎡, rising to 16,000 yuan/㎡ in the second phase.
Year-End Sales Rush: In December, developers may offer additional discounts (such as 20% off or free parking spaces) to meet annual targets. However, be aware that some properties may offer disguised price reductions under the guise of “worker-to-housing,” so verify property rights.
Two Essential Things to Do Before Signing a Contract
Check the Five Certificates: Require the developer to produce documents such as the “State-Owned Land Use Certificate” and the “Construction Land Planning Permit” to ensure the project is legal. For example, an unlicensed property was demolished due to illegal construction, leaving the buyer with nothing. Review contract terms: Focus on checking delivery standards (e.g., brand of fully furnished apartment) and liability for breach of contract (e.g., compensation percentage for delayed delivery). For example, one contract stipulated “1/10,000th of the total compensation for delayed delivery per day,” when the actual compensation was far less than the lost rent.
Real estate exhibitions are not only an information war, but also a psychological war. New buyers should remember: budget as the guide, needs as the anchor, and actual results as the key. Don’t be swept up in “limited-time offers” or “a rush to buy.” After returning home, calmly compare the data and consult a lawyer or real estate consultant if necessary. After all, buying a home is a major life event; an extra bit of caution can save you a lot of regret.
