Buying property off the plan has grown to its most popular levels as of today with purchasers in all age groups getting involved. The increase in off-the-plan sales has been driven by demand to secure the best new apartments.
Buyers like the ability of getting exactly what they want rather than adjusting their vision to an existing apartment or going through costly and timely renovations.
Buyer’s preference is to get in early to get the best choice of the bunch and preferring reputable developers with good track records that settle on time.
Getting in early allows buyers to study the available floor plans and plates to choose whether they want the biggest outdoor area and aspect they desire.
It also allows buyers to not have to settle between 18 months and four years for some developments and they can continue saving towards their goal.
If plans change and purchasers can no longer proceed with the purchase there is the added flexibility of selling their interest to someone else.
Different buying groups seek different benefits in buying off the plan; older buyers look to downsize from their traditional family home, young buyers appreciate the ability to save up for a deposit and get the first home buyers grant while investors like depreciation and stamp duty deductions.
Often buyers are able to purchase additional properties within a short period of time by using settlement time to continue to save and if the property experiences capital growth.
Reasons to buy new
What to look out for