Now is the perfect time to purchase off-plan
/‘What is off-plan?’ You ask…Buying off-plan means you are purchasing the property before it has been built. This might seem like a scary decision to some, however we can assure you that this is not the case and you gain a lot of perks by doing so.
Pros
The property could well be worth more than what you’ve paid for it by the time it is complete.
Capita appreciation - lean on the reduced price offering…Capital growth is considered higher in off-plan property… if prices drop given current market, you are still in a place that will allow for potential growth.
You get to secure a property that best suits your rental needs. Choosing level, side of building, layout, etc being more flexible.
At this stage, you get to choose your own fixtures and fittings and have them installed by our developers. Choose from an array of pre-designed ‘furniture packs’...
Purchasing now, means you don’t miss out further down the line when it may be too late.
Warranty protection - our builders fix any issues up to completion with our 10-year build warranty, covering your structural concerns. Fixtures and fittings will have an average 5-year warranty post-completion.
Buying into a more modern development, on-trend living space, plus up to date building regulations, reduction in carbon emissions, energy efficiency, etc.
A more effective payment structure - spread the initial costs on your deposit. An ideal opportunity to jump on the property ladder as a first-time buyer.
Cons
You may have a long wait between your purchase and being able to rent out the property, depending on what stage the development phase is currently at.
If you pull out, you’ll potentially lose out on your initial deposits.
The majority of lenders only offer mortgages for six months, which may result in your offering becoming expired prior to the completion of your property purchase.
When do you pay?
When you buy off-plan, you will need to secure your property investment by way of a reservation deposit. Once you have paid this, you’ll need to pay a further deposit on the successful exchange of contracts. Only once the property is completed will you then be required to arrange the final balance (usually within two weeks from sign-off). This could be a cash or mortgage agreement.
If you have any further questions, be sure to contact us and we’ll be more than happy to assist you
Springwell Gardens, Leeds available to purchase off-plan and save 5% today!
Leed’s City Centre skyline is changing and there’s still time for you to be a part of it. Springwell Gardens, which is set for completion at the end of 2023, will stand at 14-storeys tall, boasting 223 apartments which include some very stylish penthouses and private rooftop terraces.
Located on the corner of Whitehall Road and Springwell Street in Holbeck, this new development is situated in a prime location for those looking to purchase the perfect property rental.
We are currently well into construction onsite and on target for our Q4 2023 completion. Currently available at 5% below the market price value, now is the perfect time to make your next investment the purchase you won’t regret. Find out more.
