The concept of buying Real Estate "Off the Plans" has become an accepted and popular way of buying new property in the St. George and Sutherland Shire area over the past 10 years.
The idea of buying "off the plans" is that individual properties are offered prior to completion of construction, at or below current market prices.
These units are offered with a schedule of inclusions, a schedule of fixtures and fittings, a floor plan and price list for the entire development. In most cases, they are purchased with a small outlay of 5% of the purchase price, with the balance payable on settlement (completion of the property).
In the past 5 years, astute investors have purchased "off the plans" early, thereby securing the best floor plans with the best aspect at the cheapest price and have experienced capital growth of between $20,000.00 and $50,000.00 by the time of completion.
Furthermore, you are purchasing a brand new unit. This means you are entitled to a 7 year builders warranty, 1 year workmanship warranty on fixtures and fittings. If you are:- a) an investor you will have the benefit of full depreciation on building, fixtures and fittings. b) First home buyer you will be entitled to Grants and benefits under the Governments First Home Buyer Scheme.
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