Buying something that doesn’t exist yet can be a little nerve wracking for anybody, so it’s easy to comprehend why buying property off the plan can feel like you are stepping into unknown territory.

However, there are actually a lot of benefits of buying a home off the plan, from lifestyle, economic and environmental points of view.

We have put together a list of five things to consider to get you started, so if you couple these with your own research as well, we are pretty certain that you will find the rewards greatly outweigh the risks.

The Development and Location

Buying off the plan can often give you access to locations that you may not have previously had access to, with amenities which haven’t previously existed. Do your research on the area and community you are buying into. Does it have good amenities planned such as parks, a town centre, schools and shops? And is it close to public transport? If it ticks many of the above boxes, then you are on the right path.

In terms of your actual home, buying off the plan allows you to select your ideal lot size and build your dream home from the ground up. Everything will be brand new so there will be very little maintenance and you have the ability to build the size of home that will not only accommodate your current needs, but your future needs as well based on your life stage.

Our tip: getting in early gives you the pick of the bunch when it comes to purchasing land or a house and land package. Register for a VIP list or make contact with the developer in the early stages to secure the perfect one for you.

You Can Lock In A Price

A big advantage of buying off the plan is locking in today’s market price for a property that will be completed in the future. This can significantly benefit buyers if the property market experiences growth over that time meaning it can be a savvy investment for the future.

It Gives You Time To Save

You may not be ready to refinance just yet, but you may be in a year or so. Most developments require just a 10% deposit, and the remainder upon settlement. This gives you a head-start in sorting out your finances, putting some savings away or selling your current residence before moving into your new abode.

Do Your Research On The Developer & Builder Of Choice

Here’s the big one. Make sure that the developer of the masterplan community and your chosen builder are reputable ones. Research their other developments or builds to find out the size, scale and quality of what they are able to deliver. This will give you a good idea of what to expect.

Know Your Defects Period

When you are ready to build, a bit of peace of mind that comes with a new home build is the warranty period. During this time the builder will be responsible for repairing any faults that arise with the property in relation to materials or workmanship; which could be anything from a leaky tap to a cupboard door not closing as it should. Make sure you note down anything that you notice for the first three months after you move in so that your place will be in top notch condition by the time the warranty ends.

If an off the plan purchase is something you are interested in, be sure to contact our friendly Menangle Park sales team, who can walk you through the process in great detail, whilst taking you through current land and house and land packages available. Email us at sales@menanglepark.com.au or drop by the sales centre at Macarthur Square (opposite Coles).