REASONS TO BUY YOUR INVESTMENT PROPERTY OFF THE PLAN
Compared to an established property, a property bought off the plan is generally cheaper the earlier you get in. If you buy before construction even starts then you might secure a property at entry prices, whilst the later you buy, the higher the prices will go. Ensuring that you are signed up to mailing lists such as with iBuyNew will ensure you get notice of first-release projects and pre-release.
IT’S BRAND NEW
Why buy an older property which may have ongoing maintenance problems when you can buy a brand new one? Not only will your new property be designed for modern day living with brand new appliances, fittings and fixtures that comes with guarantees, but it will also be far more energy efficient, reducing your power bills. Tenants also love new and will be prepared to pay a premium for this luxury.
Buying off the plan also provides buyers with more choice. If you buy early enough you might be allowed to choose your preferred colour scheme as well as take advantage of the best available floor plans for the best price. Within a development, there might be many apartments of the same type on different levels, giving you more chance to secure your favourite floor plan. If you buy once the development has completed, you will tend to find that the floor plans no one really wanted are the ones that are left.
Buying property off the plan also means that there is typically less competition to go up against, compared to an auction for example. Auctions can be a really stressful experience with bidding wars and little chance to secure the property for the price you wanted due to a large turnout, or more people willing to spend more money than you.
STAMP DUTY SAVINGS
As well as the potential to save money through the first home owner grant, buyers of off the plan property can also receive stamp duty concessions. Again this is dependent on the state you buy in as well as the property purchase price, so it is best to check on the government website for the most up to date information. If you are looking to purchase a investment property, then why not book a meeting with us.