Off-the-Plan

Buying a property before it's built — you sign the contract from plans and drawings.

Off-the-plan purchases mean you sign a contract to buy a property (usually an apartment or townhouse) before construction is complete — sometimes years in advance. The deposit is usually 10% paid on signing, with the balance due at settlement when the property is registered. Many states offer stamp duty concessions on off-the-plan purchases. Risk: the finished property may differ from renderings, lenders may revalue lower than your purchase price, and construction delays are common.