When deciding to buy property, there several options for you consider from. One of the less known options is buying off plan. It is one of the growing investment opportunities for many homeowners. We have compiled 6 advantages of buying off plan
1) First Pick – Greater Choice
When buying off the plan, you get to pick your apartment first. This means you get the chance to decide on which is the best apartment from your perspective. It gives you a greater advantage in picking the property most suitable to you.
2) Time
Buying property off plan means you get to make your payment at a later date. You are able to save up for a bigger deposit on the property because groundbreaking is usually a few years away.
3) Lock in a Price
When you buy off plan, you lock in your price and if the property market grows in value, and your property goes up in value, you don’t have to pay any more. Property value is almost always guaranteed to increase with time. An empty piece of land may find itself surrounded by a booming business district or major highway around it in the time it takes for the groundbreaking to kick off increasing the property value exponentially.
4) Colour Choices
You may get to choose which colors go where and not settle for the boring colors picked. Depending on your preference, your input could sway the color options for a whole development if you buy early enough..
5) It’s New!
As the first home buyer, you will be moving into something brand new while for investors, you will maximize your rental return as many tenants will pay more to live in a new apartment. Brand new property always fetches high interest as well as a higher price
6)Low initial buying price
Developers mostly require a 10 per cent deposit to secure the property. The full payment is made when the property has been built. This guarantees you become the owner of a property at a much lower buying price as compared to buying when it is built.
Talk to us to learn more about buying property off-plan.
