When it comes to different practices to purchase a property, buying off the plan has become an increasingly popular option.
Apartments are now more often than not bought by enthusiastic buyers prior to the projects completion, all seeking the benefits that come with buying off the plan.
As a boutique 20-storey residence in the heart of the Gold Coast currently under construction, 31 Broadbeach is no different with keen buyers already purchasing off the plan to secure their space in this new and exciting architectural approach to Broadbeach.
What Does Buying Off The Plan Entail?
Put simply, buying a property off the plan refers to signing a contract to purchase a home or apartment that is still under construction.
Buyers have the opportunity to view the design and building plans, but not yet physically inspect the property which can be a daunting situation for some.
Despite the potentially absurd notion of purchasing a home not yet built, buying off the plan does come hand in hand with significant benefits which have prompted its popularity.
Lock In A Price
One of the most prominent advantages of buying off the plan is that buyers only pay the current market price for a property, even though it will be completed in the future.
By getting a foot in the door on a new development buyers can take advantage of early prices of apartments as once construction commences prices commonly rise.
If purchasing at today’s price in a development already earmarked for a higher sale price in the future such as 31 Broadbeach, buyers can almost guarantee they will own a property worth more than they spent by the time they move in.
Low Initial Capital Outlay
Another incredible benefit of buying off the plan is the low initial capital outlay required from buyer.
This is because, although a deposit is made to secure the property when buying off the plan, the entire payment isn’t required to be paid until the building has been completed.
This delay in full payment affords buyers with further time to organise finances and potentially sell an existing home without the need for bridging finance.
Low To No Upfront Maintenance Costs
A brand new property purchased off the plan, if built well, will not require the initial and ongoing maintenance or renovation costs that are often required when purchasing an older property.
Initial maintenance and renovation costs can be a hindrance to those purchasing already established apartments or homes and does give buying off the plan a further cost-saving appeal.
The Australian Building Code also requires new construction to meet stringent energy efficiency requirements, so when purchasing off the plan you can be sure your property will be fitted with some of the top power-saving appliances and systems on the market.
At 31 Broadbeach special care has been taken to ensure not only top quality fittings and finishes to the building, but also top quality appliances and systems for each apartment which guarantee water, gas and electricity efficiency.
For 31 Broadbeach more specifically, purchasing off the plan also affords you the specialised care and guidance of Trenert.
Trenert works alongside 31 Broadbeach to ensure a seamless process from initial purchase to handover at the finalisation of construction.
The Trenert specialist team provides potential buyers with up-to-date advice on property investments and sales.
Is Buying Off The Plan Right For You?
Buying off-the-plan can has many benefits including cost savings, modern finishes and fittings, the peace of mind that comes with new construction and having additional time to save money.
If those benefits are appealing to you, your living situation and your lifestyle then it could be the ideal way to purchase your next property.