This 3-bedroom apartment in Old Nyali sounds like a promising opportunity, especially given its prime location and the amenities offered. Here’s a breakdown of the key details and considerations:

Property Details:

• Location: Prime area of Old Nyali, a serene and secure neighborhood.
• Unit Size: 1,600 sq. feet.
• Layout: 3 bedrooms (one en suite).
• Complex Features:
  • 52-unit complex.
  • Swimming pool.
  • Playground for kids.
  • Ample, stress-free parking.
  • High-speed lift.
  • Secure compound with perimeter wall fencing.
• Proximity: Easy access to Greenwood Shopping Mall and the beach.

Project Details:

• Completion Date: Estimated July 2026.
• Developer: A trusted developer with over 10 projects in Nyali (8 completed, 5 ongoing).
• Payment Plan:
  • 20% upfront.
  • Balance payable over 18 months.

Key Considerations:

1. Developer Reputation:
   • It’s crucial to verify the developer’s track record by visiting their completed projects and speaking to past clients. This ensures reliability and quality.
2. Off-Plan Purchase Risks:
   • Buying off-plan carries risks, such as delays in completion or changes in the final product. Ensure the contract includes safeguards for such scenarios.
3. Payment Plan:
   • The 20% upfront payment and 18-month balance plan is affordable, but ensure you have a clear understanding of the payment schedule and penalties for late payments.
4. Location Benefits:
   • Old Nyali is a highly desirable area due to its proximity to the beach, shopping malls, and other amenities. This enhances the property’s long-term value.
5. Amenities:
   • The swimming pool, playground, and secure parking add significant value to the property, making it attractive for families.
6. Legal Due Diligence:
   • Ensure the project has all necessary approvals and permits from relevant authorities. Engage a lawyer to review the sale agreement.
7. Real Estate Agent:
   • Work with a trusted real estate agent who has in-depth knowledge of the area and the developer’s projects.

Next Steps:

• Visit the developer’s website (www.benfordhomes.com) to explore more projects and gather additional information.
• Schedule a site visit to the ongoing project and completed projects by the same developer.
• Consult a real estate lawyer to review the contract and ensure all legal aspects are covered.
• Assess your financial readiness and ensure you can meet the payment plan requirements.

This is a great investment opportunity, especially in a high-demand area like Nyali. However, thorough due diligence is essential to mitigate risks associated with off-plan purchases.