Are you considering buying off the plan investment property?
Buying a property before it is finished or built is referred to as off the plan. With buying off the plan investment property there are certain tax implications and benefits worth considering.
There are significant advantages to buying off the plan investment property. These can be in the form of tax deductions such as lower stamp duty.
Buying off the plan investment property can also mean significant price advantages. Well located property is usually in demand, early purchase in a sought after area can help you avoid price increases, as well as ensuring you receive maximum deductions regarding depreciation.
When buying off the plan investment property the disadvantage is that you cannot see the property or inspect it. You need to be able to visualize the property from the builder’s plans and work out if it will be suitable as an investment property once it is build. Buyers may also have to wait if there are any delays with construction.
A well researched purchase of an off the plan investment property and good advice can assist you in minimising any problems associated with your off the plan purchase.
Allied Property Investment can assist you with research and current off the plan property investment opportunities. Contact us today to discuss your investment property purchase requirements.
