A few years ago the idea of investing off-plan would put a lot of first time investors off but the landscape of the UK property market has changed so significantly in recent years that investing off-plan has become commonplace.
The wide range of new builds and purpose built student accommodation that are shooting up purely for rental purposes has created a surge in the investment market and, faced with virtually guaranteed returns, investors are happy to get involved in off-plan investments because of the fantastic returns that can be gained.
Of course there is always a degree of risk in any off-plan investment but there’s no doubt that the positives significantly outweigh the negatives and that’s why so many investors are taking the plunge.
Here are some of the key benefits of buying off-plan:
- If you get in early then there are always good discounts to be had. Developers need to ensure that their project is a success and they are always keen to cover some of their up-front costs so if you can get in quick, then there are bargains out there.
- Another benefit of getting in early is that you will get your pick of the development in terms of its location. This can add value to the property in the long-term.
- With a lot of new build developments you can benefit from stamp duty concessions, making further savings on your investment.
- With house prices on the rise you stand an excellent chance of making a profit straight away. As soon as the property is finally built it has already likely to have gained in value, enhancing your investment further.
At Barrows and Forrester we are experts in off-plan property investments for prime city centre residential developments and purpose-built student accommodation. If you’re considering investing off-plan but need to know more about what’s involved before making the commitment, then please contact us now.