Off-plan purchases are to become more popular in 2022
The National Association of Property Buyers has predicted that in 2022, over 47% of new-build properties are likely to be sold off-plan.
Buying off-plan means buying a house or flat before it has been built. With early-bird discounts, it can be an easy way to save a bit of money and, as house prices continue to climb, by the time you move in, it may be worth more than you paid.
After thousands of home buyers have endured high levels of financial uncertainty over the past two years, it is easy to see the appeal of paying a fixed price when buying off-plan. Many buyers will also be eligible for the First Homes Scheme and/or a Help to Buy equity loan.
With a shortage of properties coming to the market, committing to a new-build off-plan can be a good way to secure the home you want. It can also enable you to snap up a new development’s best plot and, potentially, enjoy the luxury of choosing your preferred colour schemes, fixtures, and fittings.
Buying off-plan comes with a formal agreement, meaning the risk of a purchase falling through is very low. It is also much less likely to be affected by a chain and may offer the opportunity to part-exchange your existing home, eliminating the need to put your own house on the market.
Are you thinking of buying in 2022? Get in touch to discuss the benefits of buying off-plan.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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