Buying Off-Plan: Should I Or Should I Not?

 

When property prices are rising, there is often a surge in the number of people willing to put down a deposit on a property they’ve seen illustrated on paper plans or in a brochure.

With property prices rising once again in the UK, buying off-plan is an ideal way to secure an investment early, at a discounted price, and lock in some equity. You can, in many cases, even turn a profit before completion, by selling on a property that has risen in value during construction.

A major benefit of buying off-plan is that you get to choose your plot early and reserve the best units on a development. As many as 90% of properties may be sold off-plan in some high-demand locations in a rising market, so it is important to move early.

There are often ‘special offers’ on new builds and you may be offered some kind of discount for putting down your deposit early on a property. This is usually a win/win for the developer who needs to maintain cash flow and an investor who wants to maximise profit.

 

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