The process of buying property “off the plan” can be daunting, but it can also be very rewarding. If you buy off the plan in Brisbane precisely, it will save you a lot of money and help you get into your dream home sooner than if you were to buy an established property.

If you’re considering buying off the plan, here are 5 reasons why you should do it:

You can save money:

Buying a brand-new home is cheaper than buying an established one. That’s because developers discount their prices to attract buyers, so they make up for it by building in more costs later on.

For example, if you buy a house that’s already been built, you will have to pay extra fees, such as maintenance fees and strata levies that are not included in the purchase price.

These additional costs can easily add up to thousands of dollars per year. By buying a brand new property instead, you won’t have these additional costs at all!

You can get into your dream home sooner:

Buying off the plan also means that you’ll be moving into your new home much faster than if you were to buy an established property. The average turnaround time for an off-the-plan project in Sydney is about 18 months, which is significantly shorter than if you were to buy an established property.

You can customise your home to suit your needs:

Buying off-the-plan allows you to customise your home to suit your needs. This includes selecting the style, size, layout and colours of the property. You can also choose where the kitchen and bathrooms are located. Off-the-plan homes and other properties are a great way to get into the property market, especially for those who are buying their first home in Brisbane.

You can take advantage of government incentives:

Buying off-the-plan allows you to take advantage of government incentives such as stamp duty exemptions or concessions that are offered at certain stages in the development process (such as land release). In some cases, these savings can amount to thousands of dollars!

You can avoid stamp duty:

When purchasing an established property, there is usually a stamp duty payable on the purchase price. But when you buy off-the-plan in Brisbane, no stamp duty needs to be paid until settlement day. This is because stamp duty does not apply until the land has been transferred from one party to another under contract.

Related Source: Expat Loans Australia