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Offering advantages for both investors and owner occupiers buying off the plan can be a beneficial purchase. Read more from Your Investment Property

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  • An off the plan purchase means you can lock in the ownership of a property, without having to settle for an extended period of time. It may be one or two years before settlement, so capital growth can often make your initial deposit more valuable in the meantime. The risk here is that the value may decrease in this time, so it is important to be sure about the area, not just the property. If you intend to hold the property long term, value fluctuations in the immediate future may not overly concern you.
  • The long settlement period means you have some breathing room to take care of the investment, or to organise to move house if you intend to be an owner-occupier. You can also use the time to save money and reduce the amount of finance you will need to borrow.
  • New properties are all the rage at the moment, as far as state and territory governments are concerned. Most provide stamp duty concessions for brand new properties, as they attempt to stimulate their economies through construction. The NSW government has even replaced the $7,000 first home owner’s grant with a $15,000 bonus for purchasers of brand new properties.
  • Getting in early allows you to choose your purchase from a range of properties within the development. You can grab the one with the best view, or that’s furthest from a busy street. You don’t usually have multiple options within the one specific location when buying an established property.

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Doing your research

The benefits show that buying off the plan can be a strategy that works for many investors. Naturally, you have to do your regular research to ensure that the numbers work for you, including finance, return, growth potential, gearing, depreciation benefits and so on. In addition, the complex nature of an off the plan purchase means you should conduct a range of other checks to make sure the investment runs as smoothly as you wish.

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Resource: http://www.yourinvestmentpropertymag.com.au/buying-property/the-trick-to-buying-off-the-plan-148257.aspx

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