Agent view: Benefits of buying off the plan

Buying off the plan can be a little daunting when you first start researching the market but it does not need to be.

By taking your time to investigate all aspects of the purchase it can also be an exciting time and rewarding financially, especially if you know what to look for and what questions to ask.

New homes and off the plan property can also attract significant government incentives such as grants and stamp concessions to first home buyers, downsizers and other buyer groups.

Buying off the plan can give you time to save a larger deposit, which is great for first home buyers, the option of customising your internal scheme, time to plan and potentially see some capital growth.

Do your research and understand what is selling in the area, what future amenities are planned for, vacancy rates, rents and demographics.

Getting to know your area gives both the owner occupier and investor important information before taking the next step.

Andrew Ligdopoulos is franchise owner of LJ Hooker Canberra City