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The benefits of purchasing an off-plan development

Summer Park Umhlanga is on the road of becoming a reality, which means there is only a limited time until you can take advantage of purchasing within this off-plan development. We have seen a number of first-time buyers come to Summer Park Umhlanga. We uncover what makes off-plan developments such a beneficial purchase, especially for new homeowners.

No transfer duty fees

When purchasing off-plan you are buying your unit directly from the developer, which means there are no transfer duty fees to pay. This is huge savings, especially when purchasing property over R900 000 as the transfer rate varies from 3% to 11% of the value, depending on the property price.

Bond approvals and payments

The lead time from purchasing a unit and securing the apartment to taking actual occupation is roughly 1 year, which gives many of our buyers plenty of time to plan, save and prepare financially. When taking out a bond for the purchase of an off-plan development, you are only required to pay when transfer takes place.

Capital appreciation

From the start of construction to completion, Summer Park Umhlanga will appreciate in value. In other words, what you purchase your unit for now will be valued higher when completed. Whether you are looking to invest in property or make a savvy choice as a first-time home buyer, purchasing an off-plan development unit such as Summer Park Umhlanga will stand you in good stead, regardless of whether you are looking to sell immediately, rent out your apartment or simply live there for a few years.

With the trusted teams heading this development and the construction currently underway, Summer Park Umhlanga is anticipated to be complete as early as the last quarter of 2019. Contact our dedicated development consultants to book your site visit and secure your home within Summer Park Umhlanga.

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