Whether you’re a first-time home buyer or an experienced property investor, there’s a lot to love about buying off-plan instead of a traditional ‘ready-to-move-in’ property. Eager to learn more? Great. This guide will give you a rundown of:
- What off-plan property is
- The top five benefits of buying off-plan property
So, when you’re ready, start reading the information below.
What is Off-Plan Property?
Off-plan property is property that has yet to be finished.
Example: A huge apartment complex is being constructed in London, but the process is only 50% complete. Despite this, you can still purchase one of the apartments for £200,000 ahead of its completion. This is what an off-plan property is.
The good news is that off-plan property investment opportunities are constantly popping up. If you’re interested in this, take a look at Off plan property for sale. From luxury apartments to city centre townhouses, there are lots of properties for you to browse through. Each property listing also includes all the relevant information, including the all-important estimated date of completion. You’ll find that many of the properties are due to be completed throughout 2023 and 2024, so you’ll need to pick one that works around your future timeline.
The Benefits of Off-Plan Property
With that covered, what are the best and most exciting benefits of off-plan property? It’s a great question — and it’s one that this guide is happy to answer.
1. Rent or Buy
Many off-plan properties are made available to rent or buy. There’s a slight misconception out there that you can only buy off-plan property — in reality, though, you can arrange a rent agreement ahead of time, too. Naturally, this is good news for the people out there who’re looking to rent for the foreseeable future.
2. Save Lots of Money
Off-plan properties are usually referred to as ‘investment opportunities’ for a good reason. It’s because you can often buy them below their market value due to the simple fact that they’re yet to be completed. In some cases, you could be looking at a 5–10% (or potentially even higher) discount. During a time where property prices have skyrocketed, it makes perfect sense to buy off-plan property instead if you’re looking to save money.
3. You Can Live in an In-Demand Area
New properties are typically built in in-demand areas. Therefore, you can look forward to living in a place that everyone wants to be, such as a thriving city centre. After all, nobody wants to be stuck on the outskirts. Instead, you’ll want to be where the opportunities and affluence are.
4. Enjoy Modern Designs
Many new properties in development have beautiful and modern designs. As a result, you won’t have to worry about living in a house or apartment that looks outdated in 2023. Instead, you’ll have a property ready and waiting for you that’s built for the future.
5. Be Energy Efficient
Speaking of the future, you can also easily purchase an energy efficient off-plan property. Not only will this allow you to save money, but it’ll also allow you to help save the planet. It’s a no-brainer.
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