Buying off plan cuts costs on overseas property

There are a number of reasons, legal, financial and otherwise, why people and in particular property investors choose to buy their overseas property off plan.

They are a number of legal and financial reasons to choose to buy off plan when you invest in J&JA Overseas Properties. But if this is your first time you may have a few questions to ask.

How does buying off plan property abroad benefit me financially?

You often see overseas property developments promoted at pre-release prices. This is the best time in which to buy, as pre-release basically means "at discount".

Overseas properties and larger resort style developments can take from 18 months to three years to construct. So by offering apartments at lower prices, the developers start to obtain the required finance, which enables them to begin construction.

As soon as approximately one third of the units are sold, the prices start to increase. Increases continue at intervals based on the rate the units are selling. On the better developments (like those that J&JA Overseas Properties promote) the units sell rapidly, so price increases are also rapid.

We all want to gain from capital growth and see a return on initial investment. This, in particular, is what serious overseas property investors will be looking for. From placing a relatively low deposit (depending on the terms of payment), buying off plan means you can gain as much as 10% capital growth within one year alone.

Another advantage of buying off plan is that you can buy your chosen overseas property with the relevant deposit required (dependent on payment terms agreed), and pay nothing more until completion. This method particularly benefits those who are buying to let. This method works by using bank finance. There are not many serious property investors who use their own money to invest!! With a variety of attractive finance and mortgage offers around, there is no need.

For those who are unable to pay a lump sum for their property, buying off plan enables them to pay at intervals over the construction period (payment terms are flexible to a certain degree).

Why not contact J&JA Overseas Properties online for more financial information on buying off plan?

Why should I buy now for future use when I purchase property abroad?

Buying off plan is also useful if you are interested in purchasing a home overseas but are not yet ready to move/use it. Your planned move could be several years away, but sensibly you may wish to buy now whilst prices are more affordable. This way you secure today's price for a low outlay.

Do I have any influence on the interior design of my property abroad?

Buying off plan is attractive in particular if you will be living in your property for either permanent or holiday residence. Lots of us like to have our own stamp on our belongings and our property abroad is our "castle" so should be unique to us.

Buying resale you basically get what you buy in terms of finishes, fittings, colour scheme, woodwork, garden etc. When buying off plan you will choose all your own finishes from floor and wall tiles, to woodwork and bathroom equipment – every little detail will be your choice from a wide range of quality materials.

Additionally, you will also have the opportunity to change certain details on the plan of your property. This is more beneficial for those who are having houses built, but even in terms of apartments you can change minor details on the existing plans.

Speak to J&JA Overseas Properties for more information and advice on ++44 (0) 1304 822 639.

What are the benefits in terms of building materials?

Last but not least, buying off plan is a preferred choice for many because quite simply the workmanship and building materials used today are far better than those used "yesterday". Many of the countries in which people are purchasing overseas properties nowadays sit on fault lines, which cause mild earth tremors. Even these small tremors that are generally not felt by the person can cause damage to an older property or one that has not been constructed according to the country's anti-seismic regulations.

Developers are required to build with the latest anti-seismic building materials and according to the latest laws and regulations governing that country, and reputable developers follow rules, cowboys don't!

It is very exciting seeing your property grow to fruition. From land to home, rest assured if you have purchased your off plan property through J&JA you will be kept informed every step of the way. You will receive progress reports and photographs at regular intervals.

Contact us online for more information about buying off plan and purchasing property abroad or call us on ++44 (0) 1304 822 639.