Pros and Cons of Buying off the Plan

While many people go through the regular private treaty route of purchase at auction when buying a house, there is another option that Australians can take up. Buying off the plan is one way that many house hunters get ahead in the market however, it’s important to consider all risks and benefits. What is buying off the plan? Rather than purchase a property that has already been built, buying off the plan means you secure real estate when it is still in the development process. It could be a house, an apartment, a duplex or something else entirely. They might not be ready to live in but they can be ready for you to buy. You’ll usually have a detailed look at architectural blueprints and developments plans, with you or your representative in contact with developers, builders and agents to work out the sale. It has a series of risks and benefits, which are important to research in detail before making a financial commitment. The benefits When you buy property off the plan, you can actually have input into the development process. This [...]