Buying a home off-plan means acquiring a property based on the existing design and construction plan before it is built. This type of transaction entails a series of advantages and disadvantages.
Advantages of buying homes off-plan
The main advantage of buying homes off-plan is the price. Buyers typically save an average of 5% on the final price if they choose to sign the purchase agreement before construction is completed. Additionally, the other great advantage offered by this type of purchase is the possibility of customizing the home, making modifications to the original plan that will later be reflected in the final construction.
Disadvantages of buying homes off-plan
The main disadvantage of this type of operation is the time it may take to verify the actual viability of the project and the real estate developer involved in it. In this regard, it is highly recommended that the buyer verifies the information with official bodies and reviews and keeps all the detailed documentation of the project.