There has always been doubt in many purchasers’ minds as to whether they should take the leap and buy off the plan or invest their hard earned money into a property which is tangible at the time of purchase. As we make our way into 2014, technology has greatly benefited to those people who are looking to buy off the plan. By using computer technology, we can see exactly what the property will look like with 3D floor plans and 3600 walkthroughs.
All this relates heavily to the Victoria Park market with a large amount of development sites still in this phase or coming up in the near future, it gives you as a prospective client, a lot more information on your purchase.
By taking that leap and investing off the plan, you inevitably have your choice of which property satisfies your needs as a purchaser. It could be that it’s north facing or has a bigger balcony, the list never ends. The one point that is guaranteed is that you will escape the rat race that will follow when the building is completed when people are lining up to purchase whatever they can get their hands on.
For me, as a young investor, something else which does appeal is the length of time for the construction period. This enables you to save up more money for when settlement is finally completed in the future. Of course, this does not apply just to the Gen Y’s but to people of all ages but is a positive aspect for those first home purchasers whether it is an investment or the family home.
In many cases, when buying off the plan, the value has increased from the date you purchased off the plan to the date of completion. With the thought of capital growth, it does reflect the thought that the early bird gets the worm.