House & Land for sale in bacchus marsh

-Off the plan refers to the process of purchasing a property, typically an apartment or townhouse, before it has been constructed or completed. In such cases, buyers pay a deposit upfront and agree to pay the remaining balance upon completion of the property or in stages throughout the construction process.

The buyer may have the opportunity to customise certain aspects of the property, such as selecting finishes or fixtures, within the parameters set by the developer. They could also potentially secure a property at a lower price compared to the higher market value at completion.

-Off the plan property refers to property that is being sold before it has been constructed or completed. It is a term commonly used in real estate to describe the sale of properties based on their proposed plans, designs and specifications.

When a property is marketed as ‘off the plan’, it means that buyers have the opportunity to purchase the property based on the developer's plans and representations. Buyers typically review architectural drawings, floor plans, artist's impressions and other materials provided by the developer to get an understanding of the intended design and features of the property.

It is a type of property transaction where buyers commit to purchasing a property that is still in the planning or construction phase. When making an off the plan purchase, buyers enter into a contract with the developer and pay a deposit to secure their interest in the property.

The contract outlines the agreed terms such as the purchase price, payment schedule, completion date and any other relevant conditions. The remaining balance of the purchase price is typically paid upon completion of the property or in stages as specified in the contract.

Off the plan purchases are commonly associated with new or upcoming developments including apartments, townhouses or housing estates.

Potential for capital growth: Often, buying off the plan at today's price for a property that will be completed in a few years could mean that by the time it's finished, the value may have increased. This potential for capital growth can be attractive.

Customization and choice: You might have more flexibility in choosing finishes, layout, and sometimes minor alterations to the property before it's completed.

Financial benefits: Some developers offer discounts or incentives to early buyers. Additionally, paying the deposit over time as the construction progresses can help in financial planning.