When buying a new home, as with many aspects of life, there are definite advantages to getting in first. And that’s the main reason for wanting to buy off-the-plan.
With demand for new homes in Adelaide at unprecedented levels, this is your way to get in ahead of the crowd and secure your preferred location within the Oaklands Green development.
But wait, there’s more! It’s not only about getting in early. Buying off-the-plan has several other advantages that might be right up your street:
The Oaklands Green development is being offered to the market in stages, with properties in Stage 1A, Beersheba, now available. Each stage in the development will have in the region of 20 sites available, with a range of building designs to suit each location. In short, buying off-the-plan simply means more options, and a better chance to get exactly the home you’re looking for.
As with buying any property, you are required to pay a deposit. This will secure your chosen home and location via a contract. However, the balance of the cost your new home isn’t required until the building is completed – and as this can take a number of months – that’s time you can use to save for the remainder of your deposit.
In South Australia, if you sign a contract before construction begins, stamp duty only applies to the land value (if you buy a house and land) and not your finished home. Potentially, this
could save you many thousands of dollars – more money to put into your deposit, and reduce your home loan.
Another great incentive to buying off the plan is the contract. This gives you the peace of mind of knowing exactly what your new home is going to cost from the outset.
What’s more, by the time you settle, with construction complete, the house you own could be worth more than its value in the original contract – without costing you a cent.
This method of buying your home guarantees that you are the first owners to step through the front door. This, in itself, is very attractive for lots of new home buyers – especially when you can also pop down for a site visit and watch your new home or apartment take shape.