Investment Benefits of Buying Off-the-Plan

Besides the common reason of buying property to live in, property is also bought for investment purposes. The payoffs of investment properties can be quite high if executed correctly and there are different ways and strategies to achieve this. One such way is to buy property off-the-plan, which means that you purchase property before or during its construction. While you don’t get to see the finished structure, there are a number of benefits, investment-wise, to buying property this way.

Investment Benefits of Buying Off-the-Plan

Saving Money

While not directly boosting your investment, you can save money by purchasing property off-the-plan, which will benefit you both in the short and long term. Almost always, property that is bought in this way is cheaper than a completed project by a significant amount. In addition, if the price would go up by the time it is completed, you won’t have to pay extra because you are locked into the lower price.

Taxes are also lower on off-the-plan properties in the form of more and better deductions. This is advantageous to investors who seek tax deductions on new properties because you can capitalise on them as soon as the building is completed.

Time is on Your Side

There is a certain level of effort and stress associated with preparing a property that you’ve newly acquired for renters or sell-back. You avoid stress and pressure when you buy off-the-plan because you have much time to make sure that the property is built the way you want it and make necessary preparations before the building is even completed.

In addition, you have a greater selection of properties to purchase because nothing is set in place yet. Unlike a regular property in which you get what you pay for, you can hand select properties if you choose them before you build.

Off-Planning

Property investing is an interesting game that can turn out to be very profitable if done correctly. Purchasing property off-the-plan has many benefits for investors that include saving money through lower rates and greater tax deductions. Investors also have more time to prepare and a greater selection to choose from through buying this way.

To learn about off-the-plan house and land packages in the Geraldton area, please call (08) 9301 4445.