What are the advantages of buying Off-plan property ??
Buying off-plan means to invest in property that is under construction or before it’s been constructed since investment on the property is the biggest decision one have to make and if you want to achieve the highest return by using the easiest approach of Investment then buying off-plan property is the best way and it can be really beneficial in many ways
Here are a few advantages of why you should buy under-construction property
Small Initial deposit and staggered payment
One of the advantages of buying an off-plan property is it allows you to secure the purchase by depositing initially below the market value and by paying the remaining amount on installments. It helps the investors to purchase property with a small deposit and also supports you to arrange your finance together and pay your outstanding payment as the construction of property progresses.
And it also helps the developers to sell the maximum number of units before the completion of construction and you get the benefits of buying property with a not significantly large deposit and release the remaining in staggered payment
Highest capital growth
The other attraction of buying off-plan property is capital growth that expands from the planning stage of construction through to its final completion, the market value of your property increases than its original price as the construction progresses
What usually happens is that the developer normally offers the investor a purchase price which is below the market value to attract many clients and you get the chance to lock-in your purchase by depositing lower than its real value or in discounted price, and it continues to increase in value as the development progress and if you buy in its earlier stage then you will gain maximum profit once the construction complete.
It shows that buying off-plan property has the highest potential for capital appreciation than the traditional purchase of the property.
Property that you purchased off-plan is brand new with all the contemporary amenities and also built by using the latest material and equipment which indicates there will be no maintenance and up gradation cost, any time soon and everything is just perfect and brand new, purchasing off the plan also saves your time and money in many ways
Sometimes your developer allows you to customize your property according to your choice and specification and when you buy it with the trusted developer who has the reputation of constructing a quality building then you get the chance to meet your expectation and they also provide you a chance to watch the construction of your property
As a buyer, you should work out and check the history of your developer before signing up and inquire about any terms and conditions and also review paperwork before accepting a contract if you do it adequately then you get all the perks of buying off plan property