Kingsland Estate have a team of experts available 24/7 to help you with all your Off Plan Property Purchase needs. If you are looking to make a lucrative investment in an off plan property, then read on to find out how we can help.
What is an Off Plan Property?
Off Plan Property Purchasing is a term used for buying a property which is not yet ready to live in. It may not be habitable because it is under construction or the construction has not even started yet. Off plan property purchase benefits both the developer and the investor in different ways. For developers there is the incentive of completing the construction if they are short of money. On the other hand, investors benefit from the great prices and incentives given by developers as a reward for buying an Off Plan Property.
How does buying a property Off Plan work?
Off Plan Property investment is widely seen as a source of large returns for the investor in a fluctuating market. As with any other investment, Off Plan Property purchases also carry both risks and benefits. Let’s first have a look at the potential drawbacks associated with buying an Off Plan Property.
The biggest risk involved is that you have to make the decision considerably early as you are committing to buying in advance. During the construction period, property market, in general or in that particular area may fluctuate to a certain degree and house prices may go up or down. There can be a sizeable loss between the periods in which you committed to a purchase price of the property to the time when you get the keys of the constructed property. It may not be a problem if you buy a property Off Plan for your own residential purposes. This is where utilizing the services of Kingsland Estates can really benefit you. We have a specialist team with detailed knowledge of the property sector. These experts help to steer you to the investment which is right for you and to help you buy property Off Plan. Buying an Off Plan property through Kingsland Estates not only gets you the best prices available on the market, it also helps guarantee you invest your money in the Off Plan Property which will yield you the highest income in the future.
Another potential drawback is that you might have to wait longer after committing to purchase and putting a non-refundable deposit down than first anticipated. In some cases you may face unusual construction delays and the expected date of completion given to you by the developer may be extended further for an unspecified time. There is also the risk that the original construction specification shown to you by the developer may be adapted in the end product, due to changing market demands. Working with Kingsland Estates, you won't need to worry about the security of your investment. We will make sure you are kept informed every step of the way when you buy a property Off Plan. We have great relationships with developers across the country, which will help us bring you the best possible property deals that are perfect for you.
So what are the benefits to me as an investor?
On the upside, you get the advantage of getting incentives or discounts from the developers as a reward for purchasing an Off Plan property. Depending on the stage of development that you approach the developer, it may be possible for you to assist and have an input with the interior design of the property. You will find some developers more willing to adapt to your desired changes. At Kingsland Estates we can help you find Off Plan property and we can manage your relationship with the developers to ensure you get the best and most reasonable property suitable for you and your needs.
Another potential benefit of Off Plan property purchase is that a mortgage is not necessary before the completion of the project which can be really beneficial when building a property portfolio. It effectively means that you can have sufficient time for finding the most favourable mortgage of your choice. The biggest advantage can be the considerable rise in the value of the property by the time of construction completion. At Kingsland Estates, we will ensure you get the best value Off Plan property available.
