Buying property off the plan in Brisbane
Looking at buying off the plan in Brisbnae. Read on the find out some the pros and cons of buying off the plan.
THE PROS OF BUYING OFF THE PLAN BRISBANE
Financial Savings – You can make significant savings buying before the building is complete. This can be due to the increase in real estate value during construction.
Tax Savings – Buying an off the plan dwelling can provide you with significant tax savings. As land tax is based on the value of the land and the construction which has occured at the time of contact. You can make huge savings buying before the earth has even been broken.
Customisation – You can tailor and customise your NEW HOME to suit your style, selecting the colour palette which you like, the fittings and fixtures which you want, including appliances.
Lifestyle – Securing a home in your preferred location providing you the lifestyle you are after can often be quite expensive. When buying off the plan Brisbane has many new developments under construction which offer discerning buyers what they are looking for.
CONS OF BUYING OFF THE PLAN BRISBANE
You are buying a home that is non existence at the time of signing contracts.
Uncertainty – The uncertainty associated with buying off the plan is well documented. Buyers have been recorded waiting years for their new home.
Disappointment – Your new home does not live up to expectations. The layout is wrong, the rooms are wrong, the colour is wrong, EVERYTHING IS WRONG!
Bankruptcy – The developer may go bankrupt before your dwelling is ever completed leaving you with nothing.
Lending Issues – Banks may rescind on pre-approved loans due to property value decreases or market fallouts. Leaving you with a financial commitment that needs to be honoured.
Stress – The stress and anxiety of waiting for your new home to be built and hoping that it turns out the way your want.
Disputes – Defects which have occurred during the construction process, including poor workmanship. There are clauses in the contracts to protect purchases from these however disputing them is a costly and time consuming process
WHY CHOOSE CONVEYANCING LAWYER BRISBANE
We will work with you from the onset.
Our professional and experenced Brisbane conveyancing lawyers will review the contract, and ensure that your rights are being upheld.
We will help you in the case of disputes providing only honest feedback and legal advice, you can trust us to stand with you