Why Invest Off-Plan
Property investment can be as simple as buying your first home in your twenties and staying there until you retire, or as demanding as taking on a major renovation project every 6 months. Those looking for straight-forward financial returns often turn to the tried-and-tested 'off-plan' model. Here's our top 5 reasons why this is:
You can make a return on your investment even before you've made an investment!
Your purchase price is fixed at today's prices, even though your property may not actually be ready for another 12 months or more - so if the market rises during that time you'll be 'banking' that equity growth even before you've bought your property.
You can get a discount on the asking-price!
Developers who are keen to sell the first few units on a new site or who have a year-end sales target coming up are often open to offering great discounts on the asking price and sometimes...
...you can use your discount towards your deposit
Meaning you can take advantage of the best mortgage rates, or put less of your own capital into the property.
Your property is ready-to-let on the day you purchase it
In perfect decorative order and with all appliances and electricals up to the latest standards.
Your property comes with a 10 year builders guarantee
So if anything goes wrong, it's just one call to get them back in to fix it.
The key thing to remember is that buying investment property is very different from buying residential property - always be focussed on 1: how easily and cost-effectively can I acquire my investment property and 2: how easily and profitably can I make my investment property work for me once i own it? Off-plan property scores very highly on both these key criteria - which is why it has always been the first choice of financially-oriented, busy investors.