CONSIDER OFF-THEPLAN PROPERTY
4. REPAIR COST SAVINGS
Some of the perks of buying off the plan include:
It goes without saying that a brand new home will not need the ongoing maintenance that an older property often needs. When purchasing Off-The-Plan the property will also come with a warranty period from the builder – providing you with assurance that any little bugs or repairs in your new property will be repaired without additional cost!
1. MORE TIME TO SAVE FOR THE PAYMENT
Plus, you have the luxury of moving into a property that is totally brand new.
Purchasing a brand new property fresh Off-ThePlan may provide the financial security you are after.
Buying Off-The-Plan is one of the easiest ways to get into the property market. You only need a 10% deposit and pay the balance of the purchase price at settlement, once construction is complete, which may take 18-24 months. Savvy buyers use this time to save towards moving costs, furniture, the settlement amount or mortgage amount.
5. ENERGY EFFICENCY Your Off-The-Plan home should be fitted with some of the most power-saving appliances and gas/water/ electricity systems on the market, which is a benefit for owner occupants and future tenants alike - leading to lower energy costs.
6. CAPITAL GAINS 2. CHOICE When purchasing off-the-plan you have a wide selection of apartments to choose from. From the configuration, to the apartments aspect, views and even the finishes or upgrades. Purchasing off-the-plan gives you more choice!
3. DEPRECIATION BENEFITS If you’re buying Off-The-Plan as an investment and plan to lease your new home to renters, you may be eligible for $1,000s of dollars’ worth of tax deductions. Get a full depreciation schedule from a quantity surveyor once your property settles. This will assist at tax time when claiming deductions for your new asset’s brand new fittings and fixtures.
When you buy off-the-plan, you lock in the sale at the current market price, and once construction is completed, the value of your property may have increased along with the market.
