The Benefits of Buying Off-Plan

The Benefits of Buying Off-Plan

Are you thinking of purchasing a property off-plan? While most people tend to look for houses which have already been built, off-plan properties are becoming increasingly popular. Buying this way may have its risks, but it also provides a great range of benefits.

Here, we’ll look at the benefits of buying off-plan, and why you may want to consider it as an alternative to buying a ready-built property.

You’ll get a completely new property

One of the best things about buying off-plan is that you’ll be investing in a completely new property. Nobody else will have lived there, making it feel exclusively your own property.

Of course, this also means you have the option to put your own stamp on the property right from the start. You can have input into the fixtures, fittings and décor before you move in. You don’t get this with traditional properties that enter the market.

You may benefit from government-backed schemes

If you’re worried you can’t afford to get onto the property ladder, an off-plan property could be just what you need. There are government-backed schemes designed for first time buyers which relate solely to off-plan housing. These help you to pay part of the deposit, getting your foot onto the property ladder.

These schemes do change occasionally, so you will need to contact your local council to see which ones are currently available.

It gives you a chance to sell your existing property

When you buy off-plan, it’s unlikely you’ll move into your new home very quickly. Therefore, if you already own your own home, you won’t need to rush to try and sell it before you move.

This can save a lot of stress, and also increases the chances you’ll get a better price. When you’re trying to sell quickly, it’s easy to accept a lower offer than you’d prefer simply because you need to move – so you could end up with more cash to put towards the new property.

Purchase prices tend to be lower

Although not always the case, a lot of off-plan properties tend to be cheaper than traditional houses. They also tend to increase in value by the time they’ve been built. So when it’s time to move in, you could find the property is worth a lot more than you actually paid for it.

This could be great for those who plan on buying to sell. You can purchase an off-plan property at a discounted price, then sell it for profit once it’s been built.

These are just some of the benefits of buying off-plan. The profit potential, and the fact the homes are brand new, are definitely two of the big draws. Of course, off-plan properties may not be ideal for everyone. If you prefer your home to have a little more character, a newer property might not be the best option. However, if you do prefer to put your own stamp onto a property, buying off-plan can be a great option.