Benefits of Buying off the Plan
Buying off the plan can come with its many benefits such as an extended period between contract exchange and settlement. This gives purchasers the added advantage of having time to get financial affairs in order before settlement takes place.
Locking in a price
It also gives purchasers the opportunity to secure a property at today’s market price with time to organise finance for settlement.
Potential capital gains
Buying off the plan has in the past led to capital gains, but obviously this depends on many factors such as market conditions, interest rates, etc. As with any investment, external factors always need to be taken into consideration and advice should be sought from independent experts.
Early purchasers will have a greater selection of what’s available in a development, enjoying the opportunity to purchase a property that meets their criteria in terms of position, aspect and floor plan.
The balance of the purchase price is not paid until construction is complete, giving you more time to save funds to use towards your final payment.
Repair cost savings
The benefit of buying a new apartment and being able to move in as soon as it is settled means that it will not need the ongoing maintenance that an older property needs.