Buying a property on plan shouldn’t be viewed as a risky move as it could be the best way to buy for some! Sure, you have to use your imagination to visualise your property based on its plan before it is even built.
Moreover, you cannot start working on the property immediately as you have a lengthy waiting period before the building is completed. However, there are many advantages to buying a property on plan, and if you are not pressed for time to move into your new property, then you should definitely consider purchasing it in this state.
Here are some benefits of buying a property on plan, a decision that will give you the opportunity to witness your new investment taking shape, slowly becoming your dream home!
Buy Now, Enjoy Later
The current trends show that the value of property is rising and there is no indication showing that this trend will end any time soon. This is why it pays to buy property on plan now, at the current market price and enjoy it once it is completed in the future. The property you buy on plan will only increase in value once you settle in it a couple of years later.
A plan is a plan!
A Property on plan means just that- it is a plan of how the property will be structured, but you are free to change some things around according to your personal requirements. If you require a larger open plan, extra bedrooms or a separated hallway, a possibility of a fireplace in a particular place in your living room…all these things could be arranged at this planning stage and anything that is not to your liking could be reviewed prior to settling on the final plan.
Not financially ready? No problem!
In order to secure your purchase of a property on plan, all you have to do is pay the initial 10% deposit. Other than that, the rest of the payment does not need to be made until the property has been completed. This gives you plenty of time to organise your finances or if needs be, to sell your home prior to moving into your new one or to save up that extra money to enable you to finish off the property to your taste.
Buy a property on plan when relocating
If you are a foreigner looking to invest in property on the island for relocation purposes, buying a property on plan might be the perfect solution for you! Make all the necessary arrangements while your property is being built to your specifications and come to the island to live in your newly-built home once completed.
Make some research or simply ask around to sure the contractor from whom you are inclined to buy your property on plan is a reliable one. When buying on plan, it would be wise to involve an estate agent who is knowledgeable regarding contractors and their past projects, in order to ensure that it is a serious company that strives to satisfy its clients.