Why off-plan appeals
Buying before a building is complete often offers staged payments, a wider choice of units and potential value growth between reservation and completion. But the benefits depend on the project being delivered as promised.
1. The developer’s track record
Look for completed schemes, not just marketing. Ask how many projects the developer has delivered, whether on time, and how buyers and tenants rate them today.
2. Payment stages and deposit protection
Understand when each payment is due and how deposits are protected — for example held by the solicitor or covered by insurance — and what happens if the project is delayed.
3. The contract and long-stop date
The contract should set out the specification, expected completion and a long-stop date after which you may withdraw. Your solicitor checks these terms along with the lease and charges.
4. Realistic rental assumptions
Projected rents should be supported by comparable completed buildings nearby. Be cautious with rental guarantees: understand who pays for them and what rent may be once they end.
5. Finance and currency timing
Lending conditions may change before completion, and movements in sterling against the dollar affect your final cost.
BPG provides property investment consultancy and coordinates regulated professionals. Mortgage and legal advice is provided by FCA-authorised brokers and SRA-regulated solicitors. Nothing on this website is financial, legal or tax advice. Property values and rental income can fall as well as rise; forecasts are not guarantees.