Should You Buy An Off-the-plan Property?

When a question about investing in off-the-plan property arises, the first thing to know is what is actually an off-the-plan property? It is a property where there is a building plan but the construction is yet to begin or where the construction is in the preliminary stages. After getting to know what the word actually means the question of investing in such a property needs to be discussed. Actually speaking, buying off-the-plan property is an action that generally takes place in an appreciating property market and it attracts the investors and regular home buyers alike.

The acquisition of an off-the-plan property is a paper acquisition in the first place. You are simply required to pay a nominal amount of about five to ten percent of the actual value to reserve it. The wait is about a year or two before getting physical possession of the property. If the return from the property is the consideration then it must be noted that there will be no return from the property during this time. It is different from a newly built property in the sense that it will start generating returns later than the newly built ones. But if one wants to lock in a price in the hope that it might escalate, then buying an off-the-plan property is surely a wise decision.