Pre-construction: The benefits of buying off-the-plan before building begins

Buying a luxury home off-the-plan can be a smart way to lock in a brand-new property before prices and demand rise – especially if the location has strong scope for growth. 

Buying a property off-the-plan secures the price before demand rises.

Premium new-build townhomes on the Gold Coast present high-end, low-maintenance living for discerning homebuyers and investors, with downsizers particularly attracted to the coastal lifestyle and value for money. 

“One advantage of taking the initiative and buying off the plan today is securing a property at a price in the current market,” says PropTrack economist Anne Flaherty. 

“Looking at historic trends suggests the property is very likely to be worth more money upon completion – meaning more than you paid.” 

Ocean Suites on Jennifer in Queensland’s Runaway Bay is a prime example of pre-construction benefits for savvy buyers, with just seven residences in the exclusive development. 

Synonymous with exclusivity, luxury purchases often sell pre-construction leaving interested parties to compete with others drawn by the appeal of completed amenities.  

Here are some factors that make off-the-plan projects a golden opportunity. 

Building confidence 

Down to its final few villas, there’s limited opportunities to buy into the opulent waterfront sanctuary Ocean Suites, which will be brought to life by award-winning Gold Coast builder Alroe Constructions. 

NPA Projects Founder and CEO Andrew Erwin, the project’s marketing partner, says a trusted and proven builder is key when choosing off-the-plan properties. 

“I think buyers in this kind of marketplace are astute enough to know you need a reliable, established builder in place that’s ready to start construction, and that it’s a viable option.” 

Ocean Suites on Jennifer is a premium luxury project soon to begin construction.

Erwin says the clear benefit of buying pre-construction is that you’re able to personalise your plan and everything is brand new and more efficient than older homes. 

“As an investor, it’s got the depreciation benefits attached, and as an owner-occupier you’ve got your warranties and time for the new product to age as it will.” 

Pre-construction also has obvious financial benefits, Erwin adds. 

“Typically, with off-the-plan, it’s a ten percent deposit and you have however long until the building is completed to come up with the other ninety percent,” he says. 

“This gives you time to plan, time to save, save on how much you’re going to borrow potentially, and also effectively lets you lock in today’s price.” 

Erwin advises buyers to be aware of comparing with the established marketplace – which relies on recent sales history and data – without referencing replacement value. 

“We’re delivering a brand-new product while being compared to the general marketplace. You wouldn’t compare a brand-new car to a second-hand car, yet that’s still how people view the market.” 

A new build, such as the residences at Ocean Suites, allows you to choose your high-end finishes.

Waterside appeal 

Off-the-plan developments by the beach on the Gold Coast presents a strong prospect with consistent demand among local and interstate retirees. 

Runaway Bay is an exclusive gem on the waterfront, and Ocean Suites on Jennifer offers canal-front positioning and private pontoons to access the Broadwater.   

Flaherty says Runaway Bay is currently on a growth trajectory with the suburb’s median house price rising 46.3% in three years, and units growing by around 5% in the last 12 months. 

“This means property prices are trending upwards… we know people are willing to pay a premium to live close to the water,” she says. 

“A lot of the developments in Runaway Bay really have a strong focus on building up those community spaces that are highly appealing to retirees.” 

Waterside developments have consistent demand, particularly on the Gold Coast which draws attention from interstate buyers.

Opulent design and construction 

Offering unbeatable views, as well as outstanding indoor and outdoor amenities, Ocean Suites on Jennifer is waterfront living at its finest.  

The few remaining villas begin from $2,995,000, with a range of deluxe living spaces spread across four lavish levels. 

Inside, there’s a private lift and integrated smart home technology. Outside, a 10.5m-deep outdoor space with pool, garden and firepit. 

Each villa has a private rooftop terrace with marble benchtops, a servery and a bar for impressive entertaining. 

Discerning buyers will note every detail showcases attention to detail and quality, from high-end materials to European appliances, and every floor makes the most of Queensland’s stunning natural sunlight. 

Get in before word gets out.  

For more details about Ocean Suites on Jennifer, visit the website and enquire below. 

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