Buying off-plan can offer exciting advantages, but it also comes with risks. The right choice depends on your budget, timeline and how much certainty you need.
Why Buy Off-Plan?
- Brand-new home: Modern designs, finishes and energy-efficient features.
- Potential savings: VAT may be included, meaning no transfer duty in qualifying transactions.
- Customisation: Depending on the developer, you may be able to choose finishes or upgrades.
- Potential growth: Your property's value could increase before construction is completed.
- NHBRC protection: New homes may include certain warranty and defect protections.
What Are the Risks?
- You cannot inspect the finished property before committing.
- Construction delays can affect your plans and finances.
- Final views, finishes and room sizes may differ from expectations.
- Bond approval and interest rates could change before transfer.
- Additional costs, such as bond registration, levies and upgrades, may still apply.
Before You Sign
Research the developer's track record, review the contract carefully and understand exactly what is included in the purchase price. Confirm timelines, refund policies, specifications and all potential additional costs.
Off-plan can be a great opportunity — but only when the development, contract and your financial position all align.