An off the plan purchase is a property investment strategy that has become increasingly popular in recent years. It involves purchasing a property before it has been built, based on the plans and designs provided by the developer. This approach has many advantages, including potential capital gains, lower entry costs, and the ability to customize your property to your liking. However, it also comes with some risks that you need to be aware of before making a decision.
Lower entry costs: One of the biggest advantages of an off the plan purchase is the lower entry costs compared to buying an established property. You only need to pay a small deposit, usually 10% of the purchase price, and the balance on completion, which could be years away. This allows you to secure a property at today’s prices without having to come up with a large sum of money upfront.
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