We make a difference
When you invest in a new property it is normally through an agent or some form of intermediary. If it is a leisure property / holiday home, the agent's fees will typically be at least 10% of the purchase price (we have seen commissions of up to 30%) – this is taken straight off the top from your deposit.
The developer / promoter will expect to make a margin of 25% to 30%. The remainder will be paid to the actual construction company and it is in the promoter's interests to keep construction costs to a minimum, which can adversely affect quality.
In summary, the actual cost of construction – what gets paid to the builder – is likely to be around only 60% of the price you have paid.
This typical scenario has one overwhelmingly clear characteristic – there is no-one who is motivated to act in your interest. All other parties earn more by delivering less and as an individual you are probably powerless to improve matters.
ICP is a not-for-profit company. It exists purely as a vehicle through which each syndicate can act as a unit, giving individual investors the opportunity to work together to a common end. The company is owned entirely by investors and was created for this purpose. For more information, click here.