Buying property off-plan is a great way for first-time home buyers to get a foot on the property ladder as it comes without transfer duty and the VAT is included in the purchase price.
It is, therefore, also an appealing option for buy-to-let investors, says BetterBond national development manager Jenny Rushin.
Early purchasers have the added advantage of getting great deals as the early phases of a development are often very competitively priced and prices will increase as new phases are launched.
While the traditional concern about buying off-plan is not being able to view a property in person, this is of increasingly less concern thanks to modern technology.
Another compelling argument for buying off-plan right now is the fact that the interest rate is at its lowest for almost 50 years, Rushin says.
“Buying off-plan provides a tremendous opportunity for making your dream of homeownership come true. And, provided you calculate carefully, this could prove a good investment over time.