With so many homes on offer, deciding on just one can be a challenge when you’re taking out your first home loan. From townhouses to cottages, to inner-city apartments, the property market is your oyster – but have you considered a house that hasn’t actually been built yet? This is known as buying off the plan and it can actually be a great option for those making their first leap into real estate. Here are some things to think about when snapping a home fresh off the production line.

You’ve got time

Biding your time before taking out a first homebuyer loan? One of the benefits of purchasing off the plan is that you can pick it up at today’s prices, even if it won’t be finished for a while yet. This can be great for capital growth if it’s is your first investment home – by the time the property is done and dusted, and depending on the area, it might have grown in value! In fact, you might be able to secure yourself a bargain if the project is in its very early stages, as many developers often offer lower prices or incentives to stir up interest.

Just remember: What kind of recourse you’ll get if the development doesn’t make it through to completion? Check through the contract with a fine tooth comb before jumping in head first.


You might think that these properties are all pretty similar – this might the case from the outside, but you can actually put your own personal touches on the interiors. From flooring types, wall colour and light fittings, to layout and appliances, you have the opportunity to fashion your off-the-plan home into your ideal living space. If you like the idea of building your own home but don’t have quite enough time, this can be a big advantage.

These additions might cost a bit extra, so make sure you have a chat with your broker about how much you can borrow before making the commitment.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

Share on:

DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.