I am a newbie investor in real estate. Before stepping into this world, I was told by a real estate agent that buying property can be divided into 2 parts, Off-Plan and Secondary. Being a newbie, I asked him what is off plan property, and secondary property. I have shared the meaning of each here in this answer.
What are Off Plan Properties?
Off-Plan properties are those that are purchased from the developer either prior to development or during it. Conversely, secondary properties are already constructed and offered for sale by their original owner.
After understanding what does off plan property mean, I was suggested by him that it is better to invest in off plan properties because of the following reasons,
Off-plan properties typically have lower prices than residences that are ready to move into.
In the long run, price appreciation is higher and you can profit more.
Because you won't have to pay for items like service or maintenance fees prior to handover, you'll have less additional expenses.
Once you have paid at least thirty percent of the property cost, you can usually sell before the project is completed.
Hope this information was helpful!
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Authors Of The Question
What is Off Plan Property?
Yamini
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2 months
2024-09-12T08:57:11+00:00 2024-09-25T09:06:36+00:00Comment
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