Buying 'Off The Plan'

September 16, 2016
Mandy Dickerson

'Off The Plan' is the term used when purchasing Real Estate before constuction, generally from a developer and more often than not a block of apartments. 

Purchasing this way has its benefits and most definitely things to consider. 

The time it takes for construction gives a great opportunity to save more deposit and you just might see the property value increase before the buildiing is finished. All good but what if the value decreases during construction?  Well you may need to put more deposit into the purchase or use equity from another property you own.  

Remember when you are buying off the plan you are signing a legal document to purchase a property that may be different from your expectations.  

If you are considering this type of purchase and would like to talk to me about your home loan please don't hesitate to call me in our Mortgage Choice Clarkson office on 9407 9881 or email me at mandy.dickerson@mortgagechoice.com.au

 

Posted in: Property market

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