Before we pinpoint what to look for in off the plan properties, here is an outline of what is classified as off the plan. Off the plan means buying a property before the construction begins or while still under construction. The purchaser signs a contract with the seller, who is contractually obligated to finish and hand over the property on a particular day.
It can be an apartment, townhouse, or house and land package. You will get to see the design blueprints, 2D floor plans, interior and exterior architectural renderings, display suites and site tours of the property. And in some cases, you will also get a virtual walkthrough of how the new property development will look after completion.
What Should You Look for When You Buy a New Off the Plan Property?
Buying off the plan developments provides you with stamp duty concessions and financial incentives from the government. Additionally, you also get an early sale discount from the developer. However, buying an off the plan property needs some homework and cautious action. So, if you are considering an off the plan purchase, make sure you pay close attention to the following aspects. Off The Plan™ is also a great resource for finding properties in new developments. You’ll find a complete guide to new listings, as well as information and resources to get you started.
Find Out About The Developer
Getting to know your developer and their project is an important step in finding the right off the plan property for your needs. Off The Plan™ partners with the most reputable developers across Australia. With Off The Plan™, buyers can research information and resources regarding the developers associated with our listings. You can do this by visiting the developers’ website and socials, simply by clicking the logo on their listings page.
Get Clear with the Contract of Sale
The contract of sale holds all the vital information about the property - its plans, size, and specifications. It’s essential to educate yourself on the various terms and agreements in detail. You can always get help from a legal advisor or conveyancers if you find it difficult to read and understand the contract.
Your Finances
Before buying any off the plan property, be it a new estate or an apartment, make sure you organise your finances diligently. Talk with a mortgage broker to ensure you qualify for a loan. Typically for off the plan, you will have to pay 10% as an initial deposit to secure the property. Then the rest of the payment is due at various stages of completion or at completion in case of apartment buildings.
Go to our Resources Centre to get started. You can find resources for calculating everything from Stamp Duty to Budget Planning in here.
Location and Community
Whether you are buying an off the plan apartment or a land and house package, location is essential. Look for all the important amenities like schools, parks, transport, and shopping centres to ensure your property caters to all your needs. Also, if you are purchasing a house and land package in a land estate make sure the community can cater to the lifestyle you want. All listings on Off The Plan™ portal include valuable information related to amenities and features that are key to a buyer’s decision making process.
How does Off The Plan™ help?
The Off The Plan™ website has been designed as a comprehensive online portal for domestic buyers and foreign investors.
Our easy to navigate listings page focus on providing meaningful information and relevant experience for users.
It also provides vital information about property developers, including a link to their website, selling agents and their contact details
We showcase properties listed in Sydney, Perth, Melbourne, Brisbane, and all major areas across Australia. You can Search by property type and location to find townhouses, apartments, house and land packages, commercial buildings, and new home designs. Start searching on our website.
