When it comes to finding the perfect place to call home, or investing in real estate, the choice between buying new, off-the-plan, and an established property is worth careful consideration.
We’ve put together a list of benefits for first home buyers, investors and those seeking a modern home when considering purchasing a house and land package or apartment, over an established property.
These are typically characterised by increasing demand and development, which often leads to rising property values. By purchasing off-the-plan, you can secure a property at today’s prices and potentially benefit from substantial capital growth by the time the property is completed, and the keys are yours.
For astute property investors, purchasing off-the-plan offers a multitude of financial advantages. One key benefit is the potential for substantial depreciation benefits. New properties often come with modern fixtures, fittings, and appliances that can be claimed as tax deductions over time. Speak to your accountant about how this depreciation schedule can result in significant savings, potentially reducing overall tax liability.
On the rental market, new homes often hold a distinct appeal for potential tenants. The idea of residing in a brand-new home, equipped with the latest amenities, can be highly appealing, resulting in shorter vacancy periods and potentially commanding higher rental yields. New properties are also likely to attract a broader tenant demographic, from young professionals to busy families seeking
comfort and convenience.
One of the most notable advantages of purchasing a newly-built home is the peace of mind of knowing any building defects which may surface are backed by a warranty, with no additional costs to the owner. Having minimised maintenance costs is an added bonus for owner-occupiers and investors alike.
First home buyers can reap significant benefits by choosing to invest in off-the-plan purchases. South Australian Government incentives such as the First Home Owners Grant can provide a considerable financial boost (up to $15,000) to first home buyers.
Another great benefit to purchasing off-the-plan is it can also lead to substantial savings in terms of stamp duty. RevenueSA offers Stamp Duty First Home Buyer Relief – which may reduce your stamp duty to zero if the cost of your new home is below $650,000.
Buying new lets you immerse yourself in modern living. Today’s new homes are designed with the latest architectural trends and technologies, accommodating the evolving needs and preferences of homeowners. From open-plan layouts that encourage social interaction – to energy-efficient features that reduce utility costs – new properties incorporate our contemporary lifestyle.
Whether you’re an aspiring Interior Designer or simply want to experience the touch and feel of your very own new home, buying off the plan allows you to add the final touches.
This advantage extends beyond aesthetics. Personalised design allows for practical considerations such as optimising the use of space, and adapting the property to accommodate future needs. The result is a home that not only suits the homeowner’s preferences but also enhances their quality of life in a tailored and meaningful way.
Choosing between buying a new, off-the-plan home, and an established property is a big decision in the home buying journey. From the financial benefits that attract investors and first home buyers, to the interest of modern living and the freedom of customisation, buying new offers a wealth of advantages that make it an appealing choice for those seeking to invest or reside and an option well worth exploring.
As always, at Oaklands Green, we’re here to guide you through the buying process. Just email our Sales Directors, Richard Joy and Annie Bauer. To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.
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Alternatively, please call us or email us at:
Mobile: 0439 504 440 or
Email: richard@oaklandsgreen.com.au
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