When it comes to investing in real estate or finding the perfect place to call home, the choice
between buying new, Off-the-Plan and an established property is a decision that requires careful
consideration. We’ve put together a list of benefits for first home buyers, investors and those
seeking a modern home when considering purchasing a new block of land, townhouse, apartment or
house and land package over an established property.
Growth Areas and Developer Incentives
Growth areas are typically characterised by increasing demand and development, which often leads
to rising property values. By purchasing Off-the-Plan, you can secure a property at today's prices and
potentially benefit from substantial capital growth by the time the property is completed, and the
keys are yours.
To get eager buyers to their projects, Developers can offer incentives including price discounts,
rebates and upgrades, adding value to your purchase. While all buyers can benefit from these
incentives, first home buyers are often the big winners, giving them the boost, they need.
Depreciation Benefits and Tenant Appeal for Investors
For astute property investors, purchasing Off-the-Plan offers a multitude of financial advantages.
One key benefit is the potential for substantial depreciation benefits. New properties often come
with modern fixtures, fittings, and appliances that can be claimed as tax deductions over time.
Speak to your accountant about how this depreciation schedule can result in significant savings,
potentially reducing overall tax liability.
On the rental market, new homes often hold a distinct appeal for potential tenants. The idea of
residing in a brand-new home, equipped with the latest amenities can be highly appealing, resulting
in shorter vacancy periods and potentially commanding higher rental yields. New properties are
likely to attract a broader tenant demographic, from young professionals to busy families seeking
comfort and convenience.
Warranty and Low Maintenance Costs
One of the most notable advantages of purchasing a newly built home is the peace of mind, knowing
any building defects which may surface are backed by warranty with no additional costs to the
owner. Having minimised maintenance costs is an added bonus for owner-occupiers and Investors
alike.
Whereas established properties may come with hidden maintenance issues that can be expensive to
rectify.
In contrast, take a drive down to any new land development’s display village and check out how
newly built homes are constructed with cutting-edge building materials and techniques, often
covered by comprehensive warranties. This reduces the immediate need for repairs and renovations
and lowering ongoing maintenance costs.
Government Incentives and Stamp Duty Savings
First home buyers can reap significant benefits by choosing to invest in Off-the-plan purchases.
Government incentives, such as grants and concessions, are often tailored to encourage the
purchase of new properties. These incentives vary by state and territory but can provide a
considerable financial boost to first home buyers.
Another great benefit that purchasing Off-the-Plan can also lead to substantial savings in terms of
stamp duty. Some states offer concessions or exemptions on stamp duty for buyers of new
properties, resulting in significant savings compared to purchasing an established property.
Modern Living and Contemporary Design
Buying new offers the opportunity to immerse yourself in modern living. Today's new homes are
designed with the latest architectural trends and technologies, accommodating the evolving needs
and preferences of homeowners. From open-plan layouts that encourage social interaction to
energy-efficient features that reduce utility costs, new properties are a reflection of the
contemporary lifestyle.
The integration of smart home technology is another key aspect of modern living that new
properties often offer. From automated lighting and climate control to security systems that can be
managed remotely, these technological advancements enhance convenience, comfort, and security
in ways that older properties may struggle to match.
Design it Your Way: Customisation and Personalisation
Whether you’re an aspiring Interior Designer or simply always wanted to experience the touch and
feel of your very own new home, buying new land provides the ultimate canvas for homeowners to
express their individuality. From selecting the layout and floor plan to choosing the materials and
finishes that resonate with their style, buyers have the freedom to create a living space that
perfectly aligns with their vision.
This advantage extends beyond aesthetics. Personalised design allows for practical considerations,
such as optimising the use of space, incorporating energy-efficient features, and adapting the
property to accommodate future needs. The result is a home that not only suits the homeowner's
preferences but also enhances their quality of life in a tailored and meaningful way.
Choosing between buying a new, Off-the-Plan home and an established property is a big decision in
the home buying journey. From the financial benefits that attract investors and first home buyers to
the interest of modern living and the freedom of customisation, buying new offers a wealth of
advantages that make it an appealing choice for those seeking to invest or reside and an option well
worth exploring.
