An off-the-plan purchase lets you consider a proposed home before it is finished. The price, duty treatment and condition still need careful checks.
Compare the proposed product
Review the plan, dimensions, orientation, inclusions and permitted variations. Customisation is limited by the actual agreement; obtain written specifications. A new building is not guaranteed to be defect-free, cheaper to run or exempt from future maintenance.
Separate duty timing from savings
Buying off the plan does not automatically reduce NSW transfer duty. Eligible purchasers may qualify for a payment deferral, which changes timing rather than the amount. First-home exemptions or concessions have separate eligibility, value and residence requirements.
Plan for completion risk
Have a conveyancer review the contract, deposit protection, sunset terms, completion and defect provisions. The lender’s later valuation or your finances can change before settlement. Keep a funding buffer and do not treat the initial deposit as guaranteed final loan approval.
