When investing in real estate, off the plan property holds
a number of advantages. As an investor you can get a step ahead of the
market by looking at the properties that have yet to be built and investing
in them ahead of any price rises that may happen. When you purchase a
property ‘off the plan’ you are able to pay the price of the
property as understood in comparison to the present market prices. This
means that in a rising market, by the time you complete payments and the
property has been built you can be paying less than the present worth,
giving yourself capital gains over and above any other savings you make
through the purchase.
One of the biggest savings available in Victoria is on stamp duty, which
is much less because it refers only to the ground that will be built upon,
and not on the property itself as it has not been completed. The saving
on stamp duty combined with the length of time that the investor has to
co-ordinate their finances over the process of paying the complete price
of the contract means that the investor is able to position themselves
in an extremely beneficial position when the real estate market is rising.
On top of this, there are tax benefits when purchasing off the plan property
as an investment, these include being able to get depreciation on the
building and various fittings within the construction. These all combine
to make off the plan property an attractive investment in the current
market place.
Please visit us online to view: Off the Plan Property