Knowing whether to buy new-build property or a traditional home is often tied to the reason you’re purchasing property abroad but if you’re buying abroad as an investment, then there’s no better option than off-plan.
Because an off-plan property is, as the name suggests, not built yet, you’re able to secure some great below market value deals. Not being able to physically set foot in your property, or admire the view from your terrace can often deter lifestyle purchasers but that disadvantage is easily gained back by the asking price. More often than not off-plan property can be up to 60% below completion value (depending on stage of build). As the build progresses, that profit will often decrease as the property value increases. Getting in early is key.
Purchasing new-build or traditional property often depends on the time you’re able to put into your property abroad. As with older homes in the UK, traditional property can require more time to maintain but you get the added advantage of a property with character. Because of the commitment needed to ensure the security and upkeep of a traditional home, this is often the favourite of buyers that wish to move abroad on a permanent basis.
New-build property makes a great lifestyle choice if you’re just using your property for a few months a year, or if you don’t have the time to maintain it. New-builds are often on or close to resorts, meaning your maintenance and security are all taken care off. Having that piece of mind whilst being several thousands miles away is priceless.
For more information on a superb range of off-plan properties currently available which provide not only a stunning holiday home but also an incredible investment opportunity
Contact Barrasford & Bird Worldwide today for more information about buying off plan properties abroad.