In a Sale in the Future State of Completion, how much does the possibility of making buyer modifications cost on the initial plan that you initially chose from the real estate developer?
Classic buyer modification works:
Among the classic TMAs most requested are the addition, extension or removal of partitions, the addition or removal of electrical outlets in the rooms, the replacement of a bathtub by a shower, the change of wall coverings (wallpaper, paint, etc.) or floors, modify the opening direction of a door.
Specific buyer modification works:
The removal of a room in the accommodation (for example to transform a T5 into a large T4 with a larger living room), the addition of a double partition, the displacement of a radiator, the motorisation of roller shutters…
Complex buyer modification works:
The movement of electric octopuses, a hot water tank, a piece of water, etc.
How to request your buyer modification work?
Respect the deadline for formulating your TMA requests.
The first rule to have a chance that your requests for plan modifications are taken into account is to respect the formalism of the VEFA and to make your requests within the time limits indicated and set by the promoter: in general 30 days from the signature of the reservation contract.
If you buy accommodation off plan at the ‘tail of the programme’, understand that modifications 10 months from delivery will no longer be accepted.
This should be taken into account in your purchasing decision. Sign the quote and new TMA plan If the promoter accepts your TMA requests, he will establish an estimate that you will be free to accept in whole or in part.
He will have the plan of your future accommodation modified by his architect and you will have to sign this new “TMA plan”.
The TMA estimate is an estimate that each future buyer is free to accept or refuse. It goes without saying that if the proposed prices turn out to be exaggerated, you can discuss and negotiate with the promoter.
This is also the reason why at TMA Success we always advise our clients to think carefully BEFORE about the chosen plan and its possibilities for improvement with modification works BEFORE even signing the reservation contract or during the period 10 days of withdrawal.
This is the ideal situation in which to find yourself to avoid disappointment and also avoid a high TMA estimate. Indeed before signing it is always easier to negotiate with the promoter who will not want to lose a serious potential buyer… In practice and in 99% of cases, TMAs are requested following the signing of the reservation contract, generally within one month in order to respect the deadline imposed by the promoter for formulating TMA requests.
The promoter is free to accept your TMA requests or not. He is not bound to accept in particular if: this may affect the performance of the accommodation, performance such as thermal, acoustics or even the accessibility of the building. they do not meet technical standards and good construction practices (water drainage under screed, for example) or are contrary to the Building Code if they are contrary to accessibility standards for people with reduced mobility if the project manager deems them unfeasible following the feasibility study
How much do upgrades and enhancements cost?
Real estate developers handle TMAs in different ways. Some are transparent and have a catalog or list of modification works that they give you when you sign the reservation contract.
Not all the possibilities are necessarily listed there, but the prices for the most requested Buyer Modification Works will be included. On the contrary, some promoters have a totally opaque policy on TMAs and the prices will be revealed in the quote they will draw up. We have seen promoters wanting to charge 4000 euros to add additional toilets or even an astronomical estimate of 14,000€ to change bays with French opening for space-saving sliding bays… This shows that they do not want to upset their organisation and these unjustified prices are the consequence. So we always come back to the same advice: talk about the possibilities of modifying the plan upstream, even during your first meeting with the sales advisor in the sales office.
PUB service expert TMA
Promoters are free to set their prices. These rates will be higher than if you had contacted an independent craftsman. Indeed, the work requested increases the cost of construction by multiplying the exchanges between the stakeholders and the companies on the site, a cost which is then passed on to the purchaser.
However, here are some significant examples of prices for Purchaser Modification Works (HT):
Supply and installation of a wall-hung toilet: €800
Creation of a support frame formwork: €200
Addition of a Microwave socket €75
Creation of an electrical wait for wall light 150€
Moving a washbasin cabinet €130
Creation of hot and cold water waits for washbasins 380€
Installation of a washbasin in the toilets: 350€
Installation of a shower instead of a bathtub: €700When do we have to pay the bill of upgrades and enhancements?
At the time of signing the estimate and the new TMA plan, the promoter will generally request a deposit of 50% of the amount of the work. It should be noted that the precise moment of payment is not regulated and that therefore the developer can demand full payment at that time as well as at the completion of the site.
Capital gain and losses
If you ask for the removal of partitions or electrical outlets for example, or even the removal of a bathroom, it is important to think about asking for capital losses in the TMA estimate which will be established by the promoter. Here is an example of a TMA request from one of our clients in which he requested a number of deletions whose amounts were deducted from the promoter quote, making the cost of the TMA quote lower.
The cost generated by purchasers’ requests for modification work must be assessed in the light of the benefits it provides. Ideally TMAs would be offered by developers as a customisation service included in the sale price.
To be effective, the modifications must be really well thought out and studied in depth in detail beforehand, including the detailed layout of each room and the elements of future decoration.
These changes to the initial plan of your future home then save valuable time on delivery, avoid additional costs via local craftsmen and also speed up moving into your new apartment or new house.
