Buying off the plan requires committing to a property which isn’t fully or partially completed. As off-the-plan purchaser, buyers have to deposit (5%-10%) before a single brick has even been laid. This kind of purchase is usually famous among investors, first home buyers and a customer having less borrowing capacity at the time of purchase.

Some of the main benefits of buying an off the plan property include savings on stamp duty( especially for first home buyers )  and repair costs, and depreciation benefits. Also, making an off the plan purchase will help you save repair costs, since a new property wouldn’t require as much of repairing as an older one. In addition, off the plan purchase has potential capital gains as well. Since the prices tend to increase over time, making an off the plan purchase implies when you move in to the property, it will be worth more than your purchase amount. However, it is also important to note that there’s a possibility of property price remaining the same or even going down.       

Is off the plan purchase right for you? Our experienced team at Laxmi Home Loans engages in extensive discussions, research, and planning with you to help you determine whether this is a suitable loan to fit your needs.