What are the advantages of purchasing property "Off Plan"?
Reserving a property at and secure a price of £200,000. If the property takes 12 months from the time of Off Plan reservation to build completion and the property market increases in value by 10% per annum, the value of this property upon completion would increase to £240,000.
Another factor to consider in this time is that no mortgage will be required until completion, so no monthly payments to make through the build process. Purchasers can benefit from
substantial gains in capital growth in a buoyant market by committing only a nominal reservation fee and exchange deposit. The introduction of exchange bonds further minimises capital outlay, where the buyer pays a bond premium which guarantees the developer a payout of the equivalent of the exchange deposit sum if the purchaser does not complete on the property.
Many property buyers will not feel comfortable to commit to buy a property which they can not physically see, inspect, etc. This provides a great benefit for astute buyers who can secure the most desired plots at , buying property Off Plan can provide many benefits for the astute investor and home buyer alike. This is particularly a popular option in a property market where values are rising and buyers are confident in the rise continuing until at least completion of their chosen property.
About the author
แสดงความคิดเห็น