Why Buy Off-the-Plan?

Value – You lock in a brand-new property at today’s prices. On most occasions, buying off-the-plan is also a great way to get your foot in the door in locations where the cost of entry for an established property is much higher. With a standard build timeframe of 18-20 months, by the time your property completes, you should be able to take advantage of an increase in its value, with added equity in your investment.

Reduce Your Costs – Only 10% of the purchase price is required as an upfront deposit, with the balance payable on settlement. This means you have time to continue saving and reduce your required mortgage. 

Time to Plan – If you’re selling your current home, you have the benefit of extra time to plan, which is particularly important if you are a downsizer. This added time can help minimise a lot of worry during what can be an intensely stressful process.  

No Duty Until You Settle – When you purchase an existing property, stamp duty is payable within 30 days of settlement. When you purchase off-the-plan, it is not due until settlement and is calculated on the contract price, not a potential increased value at settlement.

Low Maintenance – It’s brand new, so maintenance is going to be a breeze. Even more so, knowing Mosaic maintains its properties for at least 25 years post-completion – your apartment will be in top shape for life!

And if you’re investing in off-the-plan…

Tax Advantages – If you’re renting out your apartment, you may be eligible to claim tax deductions such as depreciation and wear and tear, which are generally higher for a new property.

Higher Rental Yields – Tenants are more likely to be prepared to pay a premium for a high-quality new apartment in an in-demand lifestyle location.

Early Access for Your Tenants – Using Mosaic Property Management gives you the best chance of getting a first-class tenant at the highest possible rent sooner because they have access to your beautiful new property before it settles.

And if you’re a first home buyer…

First Home Owner Grant – You are still eligible for the $15,000 First Home Owners Grant when you buy off-the-plan, an instant addition to your required 10% deposit. 

First Home Loan Deposit Scheme – Usually, first home buyers with less than a 20% deposit must pay lenders mortgage insurance. Under this scheme, however, eligible first home buyers can purchase with a deposit of as little as 5%.

Stamp Duty Concession – Given off-the-plan is a ‘new build’, as a first home buyer, you may be eligible for a stamp duty concession, or potentially pay no stamp duty at all.