Most people do not think twice – when there is a need to purchase a new apartment, they will search for an apartment that meets their needs and simply buy it. However, nowadays, there has been a growing trend in favour of buying properties that have not yet been constructed. Known as off-plan properties, these pose a number of key advantages over established properties (i.e. properties that have already been constructed). If you are intrigued, here are some of the main advantages of buying such apartments:
- More options – established apartments will most definitely already have a number of occupied properties, meaning that you will almost always have to pick from the leftovers, which are usually not the most advantageous or aesthetically pleasing choices. On the other hand, when purchasing apartments off the plan Sydney you will have the ability to select your preferred spot, as the number of apartments that will have already been purchased is far lower in comparison. This means that you are at an advantage in the ability to select the best apartments in a specific condominium.
- Stamp duty savings – the stamp duty adds over a thousand of dollars in extra expenses most of the time. One of the most attractive advantages of investing off the plan is the ability to sometimes get large benefits on the stamp duty. The ability to save thousands of dollars is an attractive option for almost any buyer, hence why many are attracted to off-plan properties. It would be worthwhile to talk to consultants and agents related to such properties and inquire whether you would qualify for any savings before picking any one property (that is, try to find a property that will allow you to cut stamp duty costs!).
- Appreciation – when you purchase off-plan properties, you will be paying for the initially established prices for any apartment, which are often the lowest value at which the properties will be sold. The shortage of housing in almost any country means that the properties will see an appreciation and an increase in value over time. The advantage here is that once you make the deposit, you will be acquiring the property at the initial value. Regardless of whether you decide to sell it later or not, the bargain is definitely worth it.
- New property – and to conclude, let us not forget the most important point: you will be buying a brand-new property. No one will have lived in it previously, and you will receive it in its most pristine condition, free of any damage, or wear and tear. It might not be something important for some individuals, but many love the feeling of living in a brand-new space, and you will be able to achieve that with an off-plan property.