Buying off the plan is a popular these days and good option for the first home buyers and investors as its gives you flexibility to lock in today’s price with longer settlements.
Why it is good for the first home buyers and investors instead of buying existing properties because its affordable & comes with modern finishes.
– It gives you flexibility & motivation to save money before settlement.
– Off the plan properties can be discounted because you are buying on a current market value.
– Stamp duty discounts can be an added bonus (Check your state policy’s)
– First home buyers grants
– Brand new home
– Modern finishing
– Affordability due to varieties & small land sizes
– Better Capital growth (depending on the location)
– Low Maintenance but high depreciation cost
– High Govt levies & High returns, Mostly for Apartments in some areas due to modern finish and amenities (Gym, Sauna,pool, Shops, lifts etc etc)
– Locations likely be close to shops, transport and amenities.
But it is very important for home buyers to do their homework on the developer before buying off the plan.
– what is their history?
– What are the inclusions?
– what have they successfully delivered?
– how do they handle any issues?
– Do they complete according to the schedule?
Its always better to do your homework for peace of mind:
– Checking developers registration and insurances
– Its very important to check floor plans and sizes of the house, apartments, townhouses & villas.
– checking proven developer with a strong track record.
– Check the area demographic & future potentials.
– Check for future developments like transportation, hospitals, parks, schools, shops & amenities.
– Review previous developments and web research any media reporting
– Take a second opinion from your trusted adviser to review any legal documentation.
As we can see past performance is very important of future project delivery. Don’t let your hard earned money investing in something, you might regret in the long run.
We are bringing many house and land packages and apartments in the major growing suburbs in Canberra.. be ready before it get’s sold out.
Contact us today for obligation free consultation.
Multi Dynamic Canberra