When it comes to buying a new home, you will have an array of wish lists that you want in your new home, in addition to your desired location and budget. You also have to make sure that the new home will create a good lifestyle for you and your family.

Luckily, there are different types of residential properties available in the real estate market today, making it a lot easier for you to choose the right one for you and your family.

Existing Home Vs New Development: Which One Should You Buy?

The first step is deciding whether to buy an existing home or build a new one, such as buying off the plan. Without doing costly renovations, buying an established home limits your design choices. On the other hand, buying within new developments ensures brand new designs, and sometimes even allows some customisations to suit your taste. In addition, new development properties also come as a cost-effective option when compared to buying established homes.

Moreover, buying off the plan properties can mean big savings on stamp duty, along with other incentives. You also get benefits if you are a first home buyer. Are you looking for exclusive off the plan properties in Australia? Get started with Off The Planâ.

Different Types of off the Plan Properties

Here are the most common types of off the plan properties that you need to weigh up to choose the right property for you and your family.

1. Apartments

Buying a new apartment is the first option for homeowners. In our opinion, off the plan apartments can be safe, convenient, and irresistible. Everything from the layout to the design, finishes, and fixtures in new apartments promises a modern and smart lifestyle in prime locations. Be it transport, school, shopping or work, new apartments bring the most convenience to homebuyers.

Though new apartments can be pricey, especially in the capital cities, buying off the plan provides a lot of time to save funds. You’ll usually have to put down a 10% deposit while signing the contract and pay the remaining only when the apartment is completed. It gives you a couple of months or even years to save and reduce loans.

New apartments also offer a luxurious lifestyle by often providing gyms, pools, spas, terrace living and indoor playrooms. However, you need to look for the strata levies and other hidden costs that come with maintaining the commonly shared areas.

2. Townhouses

New townhouses are also a popular choice for homeowners to get into the property market. They offer easy-care living at affordable prices. They are also a major attraction in the middle ring suburbs because of their quick accessibility from the city centres.

Modern townhouses are usually 2-3 level homes that embody the open space living with rich architecture and interiors covered by green landscapes. They are safe, contemporary, and low-maintenance houses. New townhouses provide excellent community living can often feature eye-catching amenities like pools, parks, gyms, and BBQs. 

When buying a new off the plan townhouse, you may be acquiring a property with a strata title, meaning you need to pay a strata fee quarterly or annually, just like apartments.

3. House and Land Package & New Land Estates

Buying a house and land package in a new land estate is one of the easiest and most affordable ways to make your dream home come true. A new house and land package is a predetermined plan, where you buy the land and the finished house directly from the developer. In this instance, you often take loans as two contracts, one for the sale of land and the other for the building. The main benefit is you often only pay stamp duty for the land and make good savings on interest payments.

These house and land packages in new land estates are typically available in new suburban developments, so they naturally have a serene country-town environment. They most commonly come with easy access to public transportation, schools and other essential amenities.

Buying a new house and a land package ensures a brand new home with all the comfort and benefits of contemporary living at affordable prices. Therefore, no matter whether you are an upgrader looking for a perfect space to accommodate your family or a downsizer who wants a quality life away from the city hustle and bustle, there is a house and land package for everyone.

Thinking of Buying an off the Plan Property?

The best way to begin your search for your next home is by checking exclusive listings from Off The Planâ. Off The Plan has properties for your unique needs, so you can choose a property type that suits both your lifestyle and budget.