Buying A New Home? It's All In The Planning

Buying 'off plan' involves the developer and the purchaser entering into a binding agreement for the sale and purchase of a property before its construction has been completed or, in many cases, even started. It is not difficult to see why it has become common for developers to sell new houses and apartments in this way; an immaculate new home fitted out with every modern convenience is clearly a very appealing proposition for any purchaser.

There are, of course, other benefits for both parties. The developer secures a legally binding commitment from the purchaser at an early stage, reducing development risk and facilitating funding. The purchaser has the benefit of securing the acquisition of their chosen unit of accommodation, at a pre-agreed price and with a fixed specification which may prove to be particularly attractive in the market at the time of completion.