Buying off the plan is a strategy for buying property, residential or commercial, where a buyer purchases a property that has not yet been built or completed.
The buyer is essentially buying the property after carefully examining the construction plans and the finishes included without actually viewing the completed product. Hence the term buying “off the plan” as it is based on the blueprints and design plans provided by the developer.
Buying properties off-the-plan has become a popular way for home buyers and investors to purchase property.
However, when buying a property that is yet to be built, there are some important considerations to think about before signing a contract.
This episode looks at some of the pros and cons to consider before buying off-the-plan.