Live SEQ, Quick tips | 3 min read

Why Buy Off-The-Plan?

Mosaic Property
Mosaic Property
09/09/19

Buying property is likely the largest purchase you will ever make, so it's important to weigh up the pro's and con's of all options, to ensure you get the right fit for you and your lifestyle. Here's some tips to consider when looking to buy property off-the-plan.

Value – You lock in a brand-new property at today’s prices and by the time your property is completed you should be able to take advantage of an increase in its value through having additional equity in your apartment.

Reduce Your Costs – Only 10% is required as a deposit upfront and then you have time to continue saving until you settle which means you can borrow less and reduce your mortgage costs.
Lots of Time to Sell Your Home – If you’re moving into the apartment, you’ll have lots of time to sell your home, taking a lot of stress out of the home selling process.

No Duty Until You Settle – You don’t have to pay stamp duty until you settle. If you buy an existing property Stamp Duty is due within 30 days of settlement. And the added bonus with off the plan, is that stamp duty is calculated on the contract price – not on its potentially increased value at settlement.

Low Maintenance – It’s brand new, so maintenance is going to be super easy. Even easier knowing that Mosaic maintains its properties for at least 25 years – so your apartment will be in top shape for life!

And if you’re investing in off-the-plan…

Tax Advantages – If you’re renting it out you may be eligible for tax deductions such as depreciation and wear and tear which are generally higher for new property

Higher Rental Yields – Tenants are more likely to be prepared to pay a premium for a high quality new apartment.

Early Access for Your Tenants – Using our property management arm gives you the best chance of getting a high-quality tenant at the highest possible rent earlier, because they have access to your lovely new property before it settles.

Why buy an apartment?

Better Locations – Apartments are typically located in high urban amenity areas closer to existing and future infrastructure, meaning they are far more likely to experience value uplift associated with strong public and private investment.

It’s How People Want to Live – The population is increasingly drawn to the lifestyle afforded by higher density environments including restaurants, shopping, transport and schools. Apartments also typically provide far greater amenity, less maintenance and better security.

Government Investment – Providing infrastructure to outer suburban fringe areas where detached housing typically exists is cost prohibitive. Investing in infrastructure in densely populated areas with apartments makes good economic and political sense.

The Preferred Asset Class – Australian investors strongly favour apartments, with CoreLogic reporting that investors favour apartments over detached housing by around three times. This percentage has grown considerably in the last decade.

Why Choose Mosaic?

Recognition – Mosaic was the most highly awarded developer in Queensland in 2018 with its apartment projects recognised by multiple highly regarded industry bodies for design, quality and liveability.

Track Record – Mosaic has successfully delivered more than 40 projects in SEQ in the past six years alone and Mosaic has never once failed to deliver a project.

Quality – Mosaic designs with the Owner Occupier in mind with bigger, functionally designed apartments with high quality fixtures and fittings that people want to live in.

Enduring Value – Mosaic delivers every stage of the project from research and acquisition through marketing and sales, to construction, property management and maintenance. They are with you for the life of the building.