What are the benefits of buying 'off plan'?

Why buy your new home ‘off plan’?

Buying property off-plan means purchasing before it’s been built. There are many advantages to doing this.


Firstly, by buying off plan you will get the pick of the plots. Which means you can choose your new home and you get the opportunity to think about the size of garden you want, the orientation and sunlight of the plot, if there is a view you like and any other factors that are important to you.


Secondly you get to choose how you’d like your home to look internally. With a choice of floor coverings, paint colours and even layout – so if you wanted a large space divided you have the flexibility to tweak your home to suit your needs. The earlier you reserve then the more flexibility you will have.


Thirdly, you get to reserve your plot and fix the price.


And finally you then get time to sell your old property over a more relaxed time period or you do also have the option of part exchange if that’s what you’d prefer.

Overview of The Close

So what’s involved with buying ‘off plan’?

It couldn’t be simpler. Firstly you need to source a mortgage offer in principle from your preferred lender and explain that you are buying off plan.

You come along and choose your plot and place a £1000 reservation fee to secure your new home. This is a refundable deposit up until the point that legal fees are incurred. We then aim to exchange within 28 days.

This is the fun part - you then make all the decisions about how you’d like the interior of your new home to look and we will keep you up to date with the build. You can even view it at certain stages to enjoy the excitement of watching your home take shape.

Once your new home is ready we then exchange with something called ‘completion on notice’ which means that at the point the house is build complete.  Your lender will value the completed house and issue you with your mortgage offer. We then serve notice and you can choose to complete and move in at any point during the next 4 weeks to suit you.

It’s then over to you to enjoy living in your new home which has been designed around you.

What advice would you give to anyone buying off plan?

Whichever development you are looking at and whichever developer you’re looking to purchase from there are so many benefits to buying off plan, however we always advise our clients to do their research… make sure you find out the track record of the developer to find out if they have historically completed on time and that they have high levels of customer satisfaction.

At any time during the build if you decide your selling chain isn’t a stable as you’d like or that you are having problems selling your old home then we do offer Part Exchange deals for you to make it even easier to move into your new home. Buying off plan really does give you so much flexibility and allows you to get the home you want, the way that you want it and it’s becoming increasingly popular. We advise that you always do your research and at Freeman Homes we are always happy to help and advise you as to the best options for you to make buying your new home an enjoyable and exciting experience.


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