Casabella Estates
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In the past, buying off-plan was quite a gamble with investors never knowing whether or not their dream apartment/house was ever going to materialise from the hole in the ground they originally sunk their money into. All this changed when the major banks realised the potential and became involved. The majority of constructions nowadays are mortgaged at outset by one of the major banks, this means that the investor can rest assured that completion of the property is guaranteed and he also has the opportunity to take on the mortgage on the finished property.

Buying pre-construction can be highly rewarding financially. The reason is, a new development will a have a number of price increases during its construction. Buying direct from the constructors enables the investor to choose the property which best suits their personal needs from the range available. The earlier you invest, the greater the selection and the lower the price. As you enjoy much lower pre-construction prices your investment actually increases over the construction period, meaning that on completion the property is already worth more than the price originally paid. Past investors have found their investment to almost double over the construction period. In this respect the investor cannot lose – he will gain three-fold: firstly, by taking advantage of the capital appreciation on the property by selling it on, or even before, completion; secondly, by renting the property to the growing holiday/residential market or, thirdly, just by enjoying his property in the sun safe in the knowledge that he has probably paid less than his neighbours.

As with all investments there are risks involved but with a little common sense and the help and guidance of professionals, buying off-plan should be considered a very smart move.

 
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