The Benefits of Buying Off-Plan
When you're deciding which new home to buy, the traditional path is to go and visit them in person to get a feel for whether you’d like to live there.
But the traditional route isn’t always the best (or cheapest) way for to buy a new home - and that’s where buying off-plan comes in.
Put simply, buying a home off-plan means that you’re purchasing it before it has been completed, or possibly before construction has even started at all. This might sound a bit scary for such a big purchase, but it’s increasingly common and there are lots of reasons why it could be your best choice for getting a new home.
Here are just some of the benefits you can get from buying your new home off-plan:
- The market for new homes can be hugely competitive, especially in popular areas and buying off-plan means that you can reserve yours at the earliest possible opportunity rather than potentially missing out.
- Reserving early also means that you could end up paying less for your home than you would if you’d waited if prices go up, so you could make money on the deal before you’ve even moved in.
- Buying a new build gives you a clean slate to work with compared to a previously owned home, and buying off-plan offers even more potential to have your input on the décor, fixtures and fittings because you’re getting in during the construction process. For example, the tiles, work tops, units and flooring can all be tailored to your specification, which is much easier to do at this stage.
- You can also usually choose from a wider range of properties because you’re not limited to what has been built already, so you may be able to take your pick of all the plots that are available.
- Buying off-plan can also mean an even simpler buying process, certainly when compared to buying a home with an existing owner.
- Your new home will come with a new-build warranty for peace of mind and being absolutely brand new it will need much less maintenance than an existing home.
How To Buy Off-Plan
Buying your new home off-plan clearly comes with advantages if it suits your circumstances, so to get started, you’ll need to find one of our developments and contact our Sales Advisor to find out if off-plan buying is an option there.
Our Sales Advisor will be able to talk you through your options as well as giving you all the information you could need as well as visuals to help you make an informed choice about your potential new home.
Buying off-plan also means you may be able to use the Government’s Help to Buy scheme to purchase the home, where you can borrow up to 20% of the value of your property through an equity loan, meaning you'll only need to secure up to a mortgage for the remaining 75%.
Shared Ownership could be another option, where you would buy between 25% and 75% of the home and pay monthly rent on the rest, which means for a £250,000 home, the deposit to buy could be as low as £6,250. If you act quickly and reserve your off-plan home by the end of September you can also take advantage of our incredible offer to pay your mortgage for 12 months.
Buying off-plan might not seem like the usual way to find your dream home, but as you can see there can be many advantages to going down this route. If you want to find out more about how you can buy your new home off-plan with Laurus, get in touch with our team today.