CAPITAL GAINS

CONSIDER OFF-THEPLAN PROPERTY

Purchasing a brand new property fresh Off-ThePlan may provide the financial security you are after.

Some of the perks of buying off the plan include:

1. MORE TIME TO SAVE FOR THE PAYMENT

Buying Off-The-Plan is one of the easiest ways to get into the property market.

You only need a 10% deposit and pay the balance of the purchase price at settlement, once construction is complete, which may take 18-24 months.

Savvy buyers use this time to save towards moving costs, furniture, the settlement amount or mortgage amount.

2. CHOICE

When purchasing off-the-plan you have a wide selection of apartments to choose from. From the configuration, to the apartments aspect, views and even the finishes or upgrades. Purchasing off-the-plan gives you more choice!

4. REPAIR COST SAVINGS

It goes without saying that a brand new home will not need the ongoing maintenance that an older property often needs. When purchasing Off-The-Plan the property will also come with a warranty period from the builder – providing you with assurance that any little bugs or repairs in your new property will be repaired without additional cost!

Plus, you have the luxury of moving into a property that is totally brand new.

5. ENERGY EFFICENCY

Your Off-The-Plan home should be fitted with some of the most power-saving appliances and gas/water/ electricity systems on the market, which is a benefit for owner occupants and future tenants alike - leading to lower energy costs.

6. CAPITAL GAINS

When you buy off-the-plan, you lock in the sale at the current market price, and once construction is completed, the value of your property may have increased along with the market.

3. DEPRECIATION BENEFITS

If you’re buying Off-The-Plan as an investment and plan to lease your new home to renters, you may be eligible for $1,000s of dollars’ worth of tax deductions. Get a full depreciation schedule from a quantity surveyor once your property settles. This will assist at tax time when claiming deductions for your new asset’s brand new fittings and fixtures.

Why are Off-The-Plan apartments attractive to investors?

Building insurance when buying new Capital growth in short-time frames

Opportunity for the property to grow in value during the construction timeframe.

The Off-The-Plan Purchase Process

1. TO ENSURE THAT NO ONE ELSE CAN PURCHASE YOUR PROPERTY

2. YOU WILL BE REQUIRED TO SIGN A CONTRACT WHICH WILL THEN BE SENT TO YOUR SOLICITOR TO BE EXCHANGED

3. ONCE THE BUILDING IS COMPLETED, A CERTIFICATE OF OCCUPANCY IS ISSUED & THE TITLES ARE REGISTERED

Complete a Sales Advice form with your Agent. Pay an initial deposit to take the property off the market

YOU NEED TO... UPON EXCHANGE...

Exchange contracts with the vendor. Pay the balance of the deposit amount (10% minus the holding deposit). The contract is now legally binding.

A SETTLEMENT AGENT WILL CONTACT YOU... Then the key to your brand new property is yours!

To arrange a pre-settlement inspection of your property. To notify you of the settlement date.

HOW TO PREPARE FOR SETTLEMENT?

Your dream Off-The-Plan property is just within reach. From your initial visit to the display suite to making the 10% deposit and signing the contract.

As your property construction completes, a Settlement Agency will be in contact with you to prepare for your settlement. This usually takes place between 3-4 months prior to the completion of the development, and a settlement agent will walk you through the process and instruct you on preparing your finances for settlement.

residential.colliers.com.au | 1800 685 759 | sydneyresidential@colliers.com

DISCLAIMER: Colliers International does not guarantee, warrant or represent that the information contained in this advertising and marketing document is correct. Any interested parties should make their own enquiries as to the accuracy of the information. We exclude all inferred or implied terms, conditions and warranties arising out of this document and any liability for loss or damage arising there from.