You may have heard the term “buying off the plan” which means purchasing a property which hasn’t been built yet. In Australia this option is most often available for apartments and units, but it can apply to houses as well.
When you buy off the plan, you are buying a property based on the plans which have been created by the property developer, who will often work with a team including an architect, builder and real estate agent.
In the case of URB4N Apartments, the property developer is WALPOL Property Development which has a portfolio of building projects including low-rise apartment developments in the south of Adelaide and the western corridor from the city to the sea, townhouses, shopping centres, a bulky goods centre, service station and more. You can read more about WALPOL Property Development at their website here.
The developer will provide potential purchasers with plenty of information about the proposed building, including floorplans and price lists. In the case of URB4N Apartments we also have a display suite available, where you can learn more about the URB4N project, talk to the agent and experience for yourself the quality of the kitchen appointments and apartment selections. We also have available a range of visualisations displaying different colour schemes and you can even walk around one of the URB4N apartments through the magic of virtual reality video.
Buying off the plan offers many advantages including:
- A longer time frame before settlement, taking the pressure off if you need to organise the sale of your existing property or negotiate the end of a lease.
- Locking in today’s prices and potentially benefiting from increased equity due to market growth between purchase and settlement.
- Time to save up for furniture, décor, and any other must-have or nice-to-have items before moving in.
- The ability to choose colour schemes, fitting and finishes which suit your personal style.
- Being able to claim greater amounts of depreciation if you are buying as an investment, with depreciation amounts maximised in the first few years of a property’s life.
- Minimal repair and maintenance costs because of moving into a brand-new property.
If you would like to know more about the benefits of buying an URB4N Apartment off the plan, please contact Constantine Pappas on 0423 047 020 or firstname.lastname@example.org, or click here to make an appointment to visit our display suite and experience for yourself the quality of our kitchen appointments and apartment selections.