Why Offplan

 

Property In The Caribbean

Why Buy Off-plan Property?

Recent years have seen increasing numbers of people buying their property ‘off-plan,’ purchasing their new home or investment based on a series of architect’s plans rather than a finished building.

 

So why do people choose to purchase property off-plan? There are a number of key advantages to purchasing a property in this way:

 

  • Primarily, this type of property purchase will prove cheaper than purchasing a finished property as developers look to incentive people invest in the project.
  • As projects move closer to completion, their value will increase. As such, your investment appreciates during the course of the build process. If your property is part of a larger project, it is likely to increase markedly upon completion of the entire project. As such, it is increasingly profitable to invest in the earlier stages of a project.
  • Increasingly flexible payment plans from developers mean your initial investment can be relatively low in comparison with the overall value of the project. This allows you to free up money which may otherwise have been tied up in a mortgage for the duration of the construction process.
  • It is possible to resell your property before or during the construction process, allowing you to realise any potential increase in value which has occurred during the construction process.
  • Developers will often allow for a degree of customisation of your property if purchased early enough.