With the demand for housing higher than ever, more and more home-seekers are choosing to buy a brand-new home before its built and reap the rewards that off-plan provides.
Buying “off plan” means purchasing a property before it’s reached completion, sometimes before construction has even started and can have numerous benefits:
For Second Steppers
Purchasing a home off-plan can even be beneficial for families looking to upsize, especially for those having to extend their budget to move to a bigger home.
With an off-plan purchase, buyers secure the price of their home before the property is built, meaning that no matter how long the build takes, the price is secured at the time of reservation.
This is beneficial for those looking to upsize as whilst their budget is extended, buyers will likely see a return from their investment.
Those upsizing will also benefit the most from the recent changes to Stamp Duty payments, which has been scrapped on properties up to the value of £500,000 on sales taking place before 31st March 2021.
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