Purchasing real estate "off plan" – why is it worth it?
Purchasing an off-plan property (i.e. a property that is under construction or even before construction begins) has several benefits that may attract investors and buyers. Here are some of the main benefits:
1. Lower purchase price
The prices of off-plan properties are usually lower than the prices of ready-made properties. Developers often offer attractive discounts to attract buyers early in the project.
2. Increase in value
The property may increase in value during construction. By purchasing at an early stage, investors have the opportunity to significantly increase the value of the property until its completion, in the Costa del Sol market it is about 20%
3. Possibility of personalization
When purchasing an off-plan property, you can often influence the interior layout, choice of finishing materials and other aspects of the design. Thanks to this, you can adapt the property to your own preferences.
4. Modern technologies and standards
New properties are built to the latest building standards and equipped with modern technology, which can mean improved energy efficiency and modern amenities.
5. Financial planning
Purchasing off plan allows for better spreading of payments over time. Often, the buyer pays in installments at various stages of construction, which may be more beneficial from a financial point of view than a one-off payment for a finished property.
6. Quality guarantee
Developers often offer warranties for new buildings, which ensures that any possible defects will be repaired at no additional cost to the buyer.
7. Possibility to rent
Investors can count on higher rental income, especially if the location of the property is attractive and the property itself is modern and well-designed.
8. Future-proof infrastructure
New development projects are often part of larger development plans, which means the development of infrastructure and amenities in the area, which can increase the value of the property in the future.