Brand New / Off The Plan Properties

Benefits of Off-the-Plan Properties. Discounted Pricing. Stamp Duty Savings.

Buying off the plan has always been a popular way to get into the high-demand Melbourne property market.  In a rising market, it is a almost fail-safe way to lock in low prices, own a property without having to pay in full for another 1 to 2 years.

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It usually comes with stamp duties discounts, low deposit and you get to buy a brand new house, with brand new fixtures and fittings.  Because of these incentives, off-the-plan properties are popular with first home buyers and buyer who are eligible for the Victoria First Home Owners Grant.
 

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

1. Stamp Duty Savings

Buying properties involved stamp duties, and it has to be paid on all purchase contracts.  In order to help home buyers get into the  property market, and to encourage the building of more new houses, most state governments offer savings on stamp duty when buying of new properties.  In Victoria stamp duty savings can save you up to $20,000 – when you buy a new house off the plan instead of buying an established property.  More information at Victoria State Revenue Office

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2. Brand New Property

Everyone loves that "NEW CAR SMELL", and with buying new homes, it is no different.  You get the property you want, BRAND NEW.  New fixtures, fittings, appliances, bathroom, kitchen, everything.  You can literally smell the packaging it comes in.  

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3. Customisation 

Our curated developers allow you to customise the house you choose.  You can pick from a selection of color schemes, carpets, and other upgrades to let you make it extra special, and to suit your budget.  Some might even allow you to make alterations to the floorplans!

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4. More time to build up the savings

One other major benefit of buying off the plan is low up front deposit.  Most developers let you put in a relatively small deposit of 5-10%, and there are no other payments till settlement, which could be between 6 to 24 months away, depending on the development.

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5. Tax Depreciation

If you intend to use the property as an investment, the Australian Tax Office allows you to claim depreciation on the property and fixtures.  Have a chat with your tax advisor to find out more.

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6. Lower Energy Bills

The Australian building codes have  been updated to ensure new properties meet stringent energy efficiency ratings.  They all come with power-saving appliances, high-efficiency insulation, heating and cooling systems to ensure the property stays cool in summer and warm in winter.

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7. Growth Potential 

With the right property in a rising market, such as now, you get to lock in low prices, and sell at a profit when it is ready.  This, however, should not be the reason why you get an off the plan property.  Property buying should be about long term investment.  In some areas, because of the supply, it may take between 5 to 10 years before significant capital gains are realised.  

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Like any investments, you have to do your diligence and research.  By buying the right property at the right price, in the right location, you will always be a step ahead. 

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Not sure what you should do?  This is where our team of buyer agents can help.  Our services might not even cost you a cent. 

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Have a chat with us. 

As Melbourne's home buying and home relocation buyers agents, we have access to some of the best off-the-plan properties in the high-demand Melbourne suburbs and the growing South-East Melbourne region.  

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To find out where Melbourne's growth areas are, check out our blog on the Melbourne growth areas.

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We only hand-pick the best, and these properties tend to sell fast, because of the high quality, and good location.

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