Saturday 22 January 2022

Why off-the-plan property is making a comeback

When looking to purchase property, the rush, pressure, sense of urgency, built up hopes and consequent disappointments can create a very stressful scenario. Saturdays become all but consumed by rushing from open to open, and then finally when we find a property we wish to purchase, hopes are raised and then invariably come crashing down when we are outbid due to the incredibly high demand and vastly inflated sales price that comes with competitively charged bidding on auction day. 

Conversely, having time up our sleeve to save more, plan for the future, get our head around and prepare for a purchase and then the subsequent move, generally makes buying property infinitely less stressful, far less competitive and far more organised. Off-the-plan is the method of sale that allows for this luxury and in Sydney’s heated market, more and more of us are choosing this least stressful option and buying off-the-plan.

With off-the-plan sales, you can select from an assortment of properties that best match your wish list and price point. The price is fixed meaning there are no surprise price hikes, such as are regularly seen at auction where a property goes for far more than the price guide indicates. And with only a 10% deposit required to secure your property at the time of purchase, you have additional time to save towards settlement, which usually gives you between 18 months to 2 years from when you put down the initial deposit.

Having milestones in place that will get communicated to you regularly by your agent also adds to your peace of mind. Knowing that construction is underway and a completion date set makes it even easier to plan your future and it’s pretty exciting to watch the countdown until the day you can move into your new home. For investors, top quality off-the-plan property in Sydney invariably ends up with superior capital gain between the time the property is deposited and the completion date. And with a requirement of only 10% deposit until completion, investors’ funds can be freed up for shorter term investments in the interim.

When considering off the plan property, make sure you choose a reputable developer and builder with a proven track record. Choose developments with highly acclaimed architects with excellent quality completed projects. Look for future-proof locations that have existing or upcoming infrastructure. Ideally properties that are close to public transport and in burgeoning, exciting and popular locations are the best bet. Cramer Property are renowned for selling only the best quality, architecturally superior apartments in burgeoning locations from the most reputable developers.

We have three major projects at present that are all commencing construction with a 2023 delivery, giving you time to plan and save for your property future. These projects offer a wide range of price points and locations and all have been vetted with Cramer Property’s discerning eye for quality, design, location and value; Wicks Place, Marrickville, Surry Hills Village and Splendour, Bellevue Hill:

Wicks Place Marrickville

Located in the Inner West’s most exciting new development, Wicks Place on the Park, these brilliantly designed apartments take living to a whole new level. Surrounded by an imaginative retail and dining precinct that echoes the character and variety of Marrickville, and shaped around green spaces, walkable neighbourhoods and re-imagined warehouse spaces, each apartment feels intimately connected to this outstanding urban village yet offers a home base that will fast become your oasis. A variety of one, two and three bedrooms available.

Click here for more details

Click here for more details

Surry Hills Village

Located in one of the Inner East’s most diverse, creative and vibrant areas, Surry Hills Village is a masterfully designed development creating an entirely new community within this historic area. Featuring generous green spaces, a new public library and an arcaded laneway positioned within European styled architecture, residents will get to enjoy the best of all worlds. Seductive archways add drama, as do the restored heritage-listed components of this development. The location already boasts the most hatted restaurants in one location, a brand new Coles supermarket and some of Sydney’s best cafes, bars and boutiques along nearby Crown and Dank Streets. One, two and three bedroom apartments selling quickly in this prime location.

Click here for more details

Splendour, Bellevue Hill

North-facing atop a dramatic cliff overlooking 38 acres of Cooper Park, Splendour Bellevue Hill is a boutique development of exquisitely crafted apartments inspired by their idyllic natural surrounds. Designed by a team of multi award-winning architects, interior and landscape designers, these extraordinary properties offer a life of serenity and supreme beauty in the rarest of locations. Effortlessly elegant, aesthetically outstanding and perfectly positioned, each Splendour home is a finely tuned work of architectural art and refined simplicity. The spectacular outlooks are beautiful beyond imagination and so rare in the inner suburbs of Sydney. Views extend across the soon-to-be heritage listed Cooper Park tree canopy or beyond to the city skyline, Harbour Bridge and Opera House. A range of properties available but this penthouse apartment is the cream of the crop:

Click here for more details

To learn more about Off the Plan developments, contact the Cramer team today.

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