Often, buying off the plan is a more affordable solution for both owner occupiers and investors alike.
So, what are some of the other advantages?
- One of the main advantages when buying off the plan is the flexibility it provides through the purchasing journey. Typically when purchasing off the plan, you will pay your deposit at contract signing with the balance payable on settlement. This gives you more time to save as the project construction is underway. In addition to financial flexibility, at Pace of Ascot Vale you can also customise your new home with a range of upgrade options available to you, from colour schemes through to fixtures and fittings.
- Because you pay an agreed price before the building construction has been commenced, by the time the building has been completed your property could be worth significantly more than what you paid for it.
- Many buyers may also be eligible for stamp duty concessions, as well as greater discounts offered on off the plan properties.
- As off the plan is brand new, your home will generally be in better condition than existing properties. This means you won’t need to spend money on repairs as you might with an existing property.
When buying off the plan, its important to do your research on not only the market and the property, but also the developer and builder responsible. Ensure you research the project and the area. Understand the timelines to construct, as sometimes this may mean you can’t move into the property for up to 2 years.
Make sure you’re buying from a reputable developer with a proven track record for delivery of high standard developments. Check out previous projects, read reviews and ask other buyers to ensure that they can be trusted.
Pace Development Group has experience in developing and constructing 100 projects around Melbourne and focuses on the Pace difference with each project. Find out more about the Pace difference here.