Buying Off The Plan

Screen-shot-2013-08-1.png - large

 

Time to breath – buy now, pay later

 

If you're an owner occupier purchasing off-the-plan, you instantly have the added advantage of 'putting things in

order' before you move in. Co-ordinating the sale of an existing property can be stressful, but knowing that when

buying off the plan you have some time before your new property is ready to occupy provides you with valuable

time to plan for your move and can reduce stress considerably.

 

More choice – range of floor plans, colour schemes, levels, views etc

 

One of the greatest benefits of buying off-the-plan is that you get to choose your property from everything that is

available in the development. Normally you don't have that opportunity. If you are quick off-the-mark the selection

is even greater. A wider array of choice means a greater opportunity to make sure you purchase an apartment with

a superior position, aspect and floor layout.

 

Depreciation benefits – the newer the apartment the more tax deductions available

 

As with all investment property purchases there are some significant tax benefits. These benefits are greater when

property is newer because there are more tax depreciations available. Those benefits are greatest when the

property is brand-new so buying off-the-plan maximises your available tax deductions.

 

Capital Growth – more growth in much shorter time frames

 

When developers first offer their new products to the market they usually start with lower prices to encourage a

faster sales rate. When construction commences, and the developer has met their construction finance

requirements, prices usually rise. Therefore, for investors who commit early to the project there is often a good

price incentive.

 

Government Savings – no stamp duty payable in many instances

 

People who purchase off-the-plan before the start of construction will pay no stamp duty under the $140 million

Home Builder’s Bonus program. Families and investors can save up to $22,490 under the new initiative – and first home buyers will receive benefits of up to $29,490.

 

Tips For Buying Off The Plan

  • Health check your financial position, now and for the future
  • Look at the median apartment price growth in the area
  • Research track record of the project team - architect, builder and sales team
  • Track the settlement date through construction
  • Lastly, but most importantly, research the track record of the developer!

For more information contact us on (03) 9385 0000