• Home
  • About
    • Privacy Policy
    • Write for Australian Women Online
  • Advertise With Us
  • Horoscopes
  • Style
  • Shoe Boutique
  • eFashion
  • Weight Watchers Australia

Australian Women Online

Business, career, health and lifestyle content for women

  • Home
  • BLOG
  • BOOKS
  • BUSINESS
  • CAREER
  • COOKING
  • HEALTH
  • LIFESTYLE
    • Automotive
    • Beauty
    • Fashion
    • Pets
    • Relationships
    • Your Home
    • Your Money
  • TECHNOLOGY
  • TRAVEL
    • Discount Holidays
You are here: Home / Uncategorized / The Benefits of purchasing a property off the plan

The Benefits of purchasing a property off the plan

2 October 2014 by Deborah Robinson

Share this:

  • Tweet
  • Email
  • More
  • Share on Tumblr
  • Print
  • WhatsApp

© Alexander Zelnitskiy - Fotolia.com

© Alexander Zelnitskiy – Fotolia.com

With so many of our cities and regional centres experiencing chronic housing shortages, an increasing number of home buyers are joining investors buying property off the plan. When you buy a house, townhouse or apartment off the plan, you are putting down a deposit to secure ownership of a future home or investment property. A property may be near completion or just at the planning stage when you sign the contract agreeing to purchase the property at today’s price.

Whether you’re saving for your first home, upgrading to a larger one, or looking for an investment property, you’ll find there are many benefits to buying a brand new home off the plan. If you are considering buying a brand new home, check out iBuyNew where you can find more information about the benefits of purchasing a property off the plan.

It’s Brand New: First and foremost, it’s a brand new home, so there will be no costly renovations or repairs to worry about.

Save on Stamp Duty: Buying a brand new home can save you thousands in stamp duty, particularly if you are a first home buyer.

More Choices: When buying an existing dwelling, townhouse or apartment, it could take months for the right property to come on to the market. In highly desirable areas, some people have had to wait for a year or more for a suitable property. When buying off the plan, you can have your choice of properties in new housing developments. You may even be able to pick and choose the type of features and colour schemes you want included in your new home or investment property.

Time to Save for a Deposit: Settlement can take up to two years when buying off the plan, giving you more time to save a bigger deposit. A larger deposit means you won’t have to borrow as much money, saving you interest over the life of the loan.

Interest Earned on Initial Deposit: When buying off the plan, your initial deposit will be held in Trust attracting a few thousand dollars of interest prior to Settlement when the balance of the deposit will fall due.

Financial Incentives: Some states and territories offer financial incentives for investors and first home buyers to purchase a brand new property, as opposed to an existing dwelling.

Lock in the Purchase Price: When you buy off the plan, you lock in the purchase price up to two years prior to settlement. So if the property market experiences growth during that time, you move in with more equity.

Tax Incentives for Investors: When purchasing a new property, investors can claim the cost of Depreciation on their tax.

These are the benefits of buying off the plan but remember, there are also the potential pitfalls to consider and you’d be wise to check these out too before signing on the dotted line. For example, in a rising property market, your new home or investment property could be worth more money than you paid for it by the time construction is completed. But if the property market falls, your property won’t be worth as much and you could find it difficult to secure financing for the property.

You May Also Like:

Filed Under: Uncategorized, Your Home

Ads by Google
  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter
Cue (AU/Asia Pacific)

New Content

  • How To Handle False Assault Accusations By Your Dating Partner
  • 5 Ways to Style a Crop Top for Summer
  • Why Sending Money Abroad Is Important
  • Building a Property Investment Portfolio
  • Simple Yet Effective Ways to Manage an HVAC Business
  • 5 Tips To Keeping Your Family Covered With Medicare
  • 5 Things Your Family Should Consider Before Moving
  • The Best Barista Course Adelaide For Coffee Lovers
  • The Importance Of Community For Women’s Empowerment
  • The Coolest Types Of Places You Can Visit If You Feel Like Dressing Up For A Super Luxurious Night Out

Popular Content

  • Moore Weekly Stars
  • Sexy and Stylish Short Hairstyles for Women Over 60
  • Top 9 Cars for Women in Australia
  • How To Handle False Assault Accusations By Your Dating Partner
  • Escort Services: Do Escorts Ever Fall For Their Clients?
  • About
  • 5 Ways To Stay Healthy When Working From Home
  • Aussie Mums open male escort agency catering exclusively to women
  • Zimmermann Leopard-Print Midi Dress
  • Veronika Maine Sequin Dot Pencil Dress Black

Australian Women Online © Copyright 2007 - 2023 Deborah Robinson ABN 38 119 171 979 · All Rights Reserved

Please share your location to continue.

Check our help guide for more info.

share your location