What Does It Mean To Buy Property ‘Off-The-Plan’ & What Are The Benefits

As Australia’s population is forecasted to grow a further 1.5 million in the next five years, the demand for housing will inevitably soar, creating the perfect opportunity for investors.

Buying a property off the plan means you’re getting in on a property deal before it’s built. Investing in this way allows investors to score a property for less and see its value increase once the property is ready.

But what is off-the-plan property really? And what are the factors you need to keep in mind if you’re considering buying off-the-plan.

So what exactly is off-the-plan property? 

Off-the-plan property is just that, off the plan. Purchasers can view the plans for the property on paper, but since it hasn’t been built yet you can’t see a physical property. This way of purchasing a home is particularly popular for new build apartments and homes that are purchased within housing estates that are yet to be built. 

Generally speaking if buying off-the-plan property you would pay a 10% deposit to begin construction, and then would pay the remaining balance once the build is complete. This process can take anywhere from a couple of months to a couple of years, with homes generally getting completed faster than apartments. 

What are the benefits of buying off-the-plan? 

When looking at buying an off-the-plan property, there are some things you should definitely consider, one of those things is the various benefits of using this option to purchase property. 

Below we have compiled a list of some of the potential benefits you may experience if you chose to purchase a property off-the-plan. 

Better investments: 

If you’re shopping for an investment property with the intention of renting that property out to a tenant or using it as a possible location for short-term holiday rentals, brand new properties are becoming far more popular with renters. 

If you’ve got a brand new property available for rent you may end up with a larger number of prospective tenants. 

Better for your money: 

We all know buying a property isn’t cheap and the benefit with buying a property off-the-plan is that you can get your foot in the door by paying a small deposit, and then use the time it takes for your property to be built to save the rest of the money needed. Buying a property off-the-plan gives you the added time you need to save! 

The other monetary benefit of buying off-the-plan is that generally construction companies have a quota they need to sell before they begin the build, so if you get in early you can typically snag a much better deal than if you were purchasing an already built or already established property. 

Added choice & customisation:

Depending on the type of property you’re buying, buying off-the-plan gives you the opportunity to fully customise your new home! From flooring to finishes, when a property is built from scratch there is so much more opportunity for you to make it really feel like yours!

Tax depreciation benefits:

When you own a property, it will experience wear and tear. If you’re purchasing off-the-plan for an investment property, current legislation allows you to claim this everyday wear and tear as a tax deduction called depreciation. If you buy off-the-plan you can yield greater tax depreciation benefits than if you bought an established property due to wear and tear.

There are many benefits to buying a property off-the-plan, especially if you are looking for an investment property.

For more information on purchasing property off-the-plan, simply fill out the form below to request a no-obligation, 45-minute consultation with one of our property experts valued at $495 absolutely free!


  • This field is for validation purposes and should be left unchanged.


Email Subscription

  • This field is for validation purposes and should be left unchanged.