Advantages of Buying Off The Plan

Buying "off the plan" means purchasing a new residential property before it's built. Here are some advantages:

1. New Property Purchase: You buy a new residential property, including individual units and common areas, avoiding the potential issues of older properties.

2. Choice: You can select the specific property that suits your needs, without compromise, by making detailed inquiries about the development.

3. Time to Organize: You have up to 2 years or more to settle the sale, allowing ample time to arrange finances and other affairs.

4. Contract Price: You buy at the contract price.

5. Customization: You may have the opportunity to make select changes to finishes and fixtures, as the building is not yet constructed.

6. Potential Capital Gain: There's potential for a capital gain from signing the contract to settlement, especially in rising markets or projects with high appeal.

7. Tax Benefits: You can claim depreciation allowances for building and fixtures, providing significant tax benefits.

8. Investor Opportunities: You can set up your property with a furniture package for rental purposes, often increasing rental income.