The Off the Plan EXPRESS Process is a step-by-step guide that will teach you every aspect of the buying process. Are you a first home buyer? Or are you buying an investment property? Or even buying your next property? Whatever your situation, this guide will teach you all the Off the Plan basics and important Off the Plan tips to help you buy the correct property.
Buying property Off the Plan is becoming increasingly popular amongst Australian’s and offshore buyers. Below we will represent the increasing popularity through ‘new dwelling starts’. Majority of which couldn’t start construction if they weren’t sold Off the Plan.
Since 2010/2011, it’s clear that higher numbers of dwelling starts are largely due to the greater desire for buyers to purchase Off the Plan. This purchasing process has become widely accepted for Australian property.
‘Off the Plan’ refers to a property which hasn’t started construction. Apartments, house and land packages and townhouses can be purchased Off the Plan. Usually an Off the Plan property only requires 10% to successfully exchange on the purchase to buy the property.
What is Off the Plan?
Off the Plan is the process of buying property before construction has completed by reviewing marketing materials, images, floor plans, schedule of finishes and the contract of sale.
Off the Plan tips and strategies aim to provide greater understanding during the buying process. Buying for your goals requires a deep understanding of how the development and your goals relate.
How Does Off the Plan Work?
Lenders require property developers to have a pre-determined number of sales before they provide finance to fund the Off the Plan development. The diagram below outlines the initial process a developer goes through before reaching the pre-sale stage.
To achieve pre-sales, developers around Australia contract agencies to sell their properties “Off the Plan” or “before construction”. Our Off the Plan EXPRESS Process aims to help you precisely understand how to most efficiently buy new property in Australia. Once you understand this process you are in a much better position to select the correct property for your goals.
It is the job for the Off the Plan Company to make the development totally understandable.
– Off the Plan EXPRESS
Correctly buying Off the Plan property isn’t just about understanding the market, or development, or your goals. It requires a combined effort. Our Off the Plan Process will give you a thorough understanding of the process. It’s like taking a free Off the Plan education course!
What’s in This Off the Plan Process?
This Off the Plan Process is a step-by-step guide from the very start of the decision making process to the very end of the settlement process based on our years of experience in the Off the Plan industry. To make sure your understanding is complete, these pages cover related subjects. Here you’ll learn Off the Plan tips for:
Step 1: Finance – What Can You Afford
Includes: Borrowing and Mortgage Repayment Calculators
Step 2: Buying Plan – Why, Where, What, How
Includes: Understand Which Buyer You Are
Step 3: Buyer – FHB, Investors, Next Property
Includes: Property Checklist for First Home Buyers
Step 4: Professional Support – The Extra Edge
Includes: Personal Cashflow Example
Step 5: Exchange – Securing The Property
Includes: Registration Form
Step 6: Settlement – Completion
Includes: Final Inspection Checklist
Conclusion: Replicate – Off the Plan Process in the Future
Are you ready to start? Let’s get the Off the Plan EXPRESS Process started! Let’s begin with your finance.