Not only is buying off the plan generally a more affordable solution for owner occupiers and investors, but it comes with a number of other advantages.

• Buying off the plan provides flexibility through the purchaser journey. Buyers typically pay their deposit at contract signing, with the balance payable on settlement. This gives them time to save while the project is under construction. In addition to financial flexibility, at Pace of Ascot Vale buyers can customise their homes with a range of upgrade options, from colour schemes through to fixtures and fittings.

• Because purchasers pay an agreed price before construction has commenced, by the time the building has been completed, the property can often be worth significantly more than what it was purchased for.

• Many buyers are eligible for stamp duty concessions, as well as greater discounts offered on off the plan properties.

• Buying a brand new property means repairs will be few and far between, unlike an existing property which can often require considerable upkeep.

Tips

1. When buying off the plan it’s important buyers do their research, not only about the market and the development itself, but also about the developer and builder responsible for its delivery.

2. Buyers should request a clear timeline for construction and settlement so there are no surprises.

3. Buyers are encouraged to check out previous projects, read reviews and ask other purchasers about their experience to ensure they developer has a proven reputation for quality and integrity.

Pace Development Group is an integrated developer-builder which retains end-to-end control over its projects and has proudly delivered over 100 projects throughout Melbourne.