Benefits of buying off the plan
Buying a property off the plan has many benefits, especially in a rising market. We explore what buying “off the plan” means and why it can be a good move!
Buying off the plan means buying a property that hasn’t yet been built or is still being constructed.
While the building has not been completed, buyers can inspect the plans, and in the case of larger projects such as Pradella’s new riverside retreat, Enclave, visit a display suite with a model and highly detailed renders.
This has many benefits, especially in a rising market. Here are some of them:
More time to save
After paying a contract deposit, buyers have an opportunity to build up their savings before handing over the full sales price upon completion.
Buyers typically use the extra time to create a buffer for extra peace of mind, assist with costs such as moving, or have a bigger deposit.
Bear in mind also that the earlier you get involved in buying off the plan, the more apartments you have to choose from as well as potentially customise your new home.
There’s the possibility your off-the-plan property could increase in value after you sign the contract and by the time it’s built.
Brisbane’s property values have been forecast to perform strongly in 2021, which could be great news for those buying now and locking in today’s prices.
It’s worth checking to see if you are eligible for government help with the costs involved in buying an off-the-plan property.
The First Home Owners’ Grant scheme, for instance, offers $15,000 to those buying new homes, including off-the-plan properties.
You get to choose a developer with a great reputation
When preparing to reap all the rewards of buying off the plan, it goes without saying that you need to select a builder with an established reputation.
Enclave is Pradella’s 16th project in West End and follows a long track record of delivering an exceptional standard of design, quality, innovation and service.
Our most recent West End project, the landmark Montague Markets and its second stage Ferry Residences, was an outstanding success, with all apartments sold out out in quick succession.
Renders, blueprints and plans
The other important benefit of going with an established developer is that you can see plenty of examples of what what they’ve previously constructed.
Buyers can get a comprehensive feel for Enclave, complete with plans, detailed artist impressions as well as an architectural model of the exterior and a display suite.The Enclave Sales Display is located at 321 Montague Road, West End and is open Wednesday to Saturday from 10am to 4pm and Sunday from 10am to 2pm or by private appointment. To book a sales appointment, complete the form here