Should I buy off plan?

Should I buy off plan?

Tina Jesson (Property Developer / Marketer) gives expert video advice on: Should I invest in one big project or lots of smaller properties?; How important is the property's location?; What should I avoid in a local area? and more...

A lot of investors look at the option of buying "off plan." Buying "off plan" is when the property's not built yet but you're buying it up front with the developer. The reason it's important for the developer to sell properties "off plan", is so that they're getting money up front, and they can often give you a good discount. So that's why it can be attractive to buy "off plan". But you need to be sure that the discount that the developer is giving you "off plan" is actually a real discount, and that the properties really will sell at that extra twenty percent, or ten percent, more that they're offering you, and the numbers still need to stack up. The problem with buying "off plan" is that you can end up with so many properties coming on the market at the same time that there's too much competition, and that will then reduce the price that you'll get, so you have to be very, very careful and do lots of research before I would advise you to buy "off plan".