What does buying “off-the-plan” mean and how does it all work?

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A growing number of people are buying brand new homes. The attraction of buying new, with lots of choice and an extended time to settle is a strong motivator. 

When you buy off-the-plan, you are securing the property at today’s market price, yet not having to settle until the building is complete. The capital growth potential with owning a new property is an exciting opportunity for home owners and investors. 

There are lots of advantages in only needing to contribute a 10% deposit now and then the balance when the building is ready for people to move in. Your bank may also help you with your deposit via a bank guarantee, if you have enough equity in another property, asset or savings. In this case, you will only have interest on the bank guarantee until the property is built, without having to provide the deposit in cash. 

If you are considering the purchase of a new home or an investment property, the townhouse buyers guide will help you to better understand all the steps to buying off-the-plan, under construction or newly built.  The free guide covers the A to Z of buying new and is a must read for all singles, downsizers, families, investors and first home buyers. Click here to request your free copy or start your search now at townhouse.com.au.

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