Benefits Of Buying Off The Plan 2017-11-22T09:31:15+00:00

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SECURE YOUR FUTURE

Purchasing a property before or during its construction is known as buying off the plan and includes houses, apartments and townhouses for sale.

The Gold Coast property market is seeing great interest from local and interstate buyers and investors priced out of the market.

Buying a new home to occupy or as an investment can be of benefit to you depending on your preference, circumstances or investment strategy.

One major benefit of buying an off the plan property is the ability to buy at today’s prices. If property prices are rising, buying today and settling in the future once construction is complete (usually one to three years’ time) can result in capital gain and the value of the property rising higher than the purchase price upon completion.

There are various advantages with buying a property before it’s been constructed whether you’re a first home buyer, owner-occupier or investor.
Here are the most significant benefits:

  • Purchase the property at today’s price. In a rising property market you could see a capital gain increase once construction has been completed
  • Extra time to get your finances in order while construction is underway
  • Settlement isn’t due until construction is complete
  • Only need 10% deposit of price when contract is signed
  • Your ideal home choice from the available stock
  • Properties built now have higher energy efficiency requirements than older properties, saving you money on electricity, water and gas
  • New properties come with higher tax depreciation for investors
  • Brand new properties can be NBN ready for fast fibre optic internet not yet available on existing properties
  • Regular maintenance necessary for older properties isn’t required for a brand new home
  • First home buyers can take advantage of the recently increased Great Start Grant. This Queensland Government initiative provides first home owners with $20,000 towards buying a new house, unit or townhouse (less than $750,000 value)
  • Warranties on brand new fixtures and fittings (appliances, carpets, garage door motors & removes, air conditioning etc.) are supplied with the home. Warranty periods vary for each item and original copies of warranty documents are supplied on settlement.

INVESTMENT BENEFITS

Off the plan properties also come with greater tax depreciation benefits due to being completely new and are a great purchase for investors seeking to maximise their tax depreciation and after tax cash flow.

USE YOUR ADVANTAGE

Buying off the plan also gives the buyer or investor additional time to get their finances in check, with settlement due only once construction is complete.

Only a 10% deposit of the price is due upon signing the contract, with the construction time giving additional breathing room to prepare the finances.

The extra time is useful for saving additional money to reduce the amount you’ll need to borrow from the bank and your future monthly repayments as well.

“The fact is the Gold Coast is always going to be an area people enjoy and it is a growing area in Queensland.”

“With the Gold Coast Commonwealth Games coming up and a lot of industries shifting to Queensland, it’s an excellent place to put your money.”

“The lifestyle it offers is another factor. I like the fact it has a pool, is near a lake and is only 10 to 15 minutes to the beach – that is what you want.”

Jane Evans

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