Another thread inspired me to post this.

Have any of you any experiences of buying 'off plan'.

Did you make money - How much?
What deposit did you pay?
Which schemes did best?
Are you investing in new ones?
Did you sell or do you rent?
etc...

A friend at work bought of plan outside of sheffield. And paid £110 for a new Three Bed semi once the house was completed the house is now worth £150K.

We're buying off plan at the moment. The exact same style of house being built next door hasn't been released for sale yet but we've been told it will be dearer than ours as 2nd releases always are. So as soon as the one next to ours is released for sale, ours will automatically jump to the value of that one.

Interesting!!

Originally posted by Saxon
We're buying off plan at the moment. The exact same style of house being built next door hasn't been released for sale yet but we've been told it will be dearer than ours as 2nd releases always are. So as soon as the one next to ours is released for sale, ours will automatically jump to the value of that one.

Interesting!!

buy that off plan n knock the 2 together then sell sell sell :)

well after reading this article http://www.manchesteronline.co.uk/homesearch/advice/buyingandselling/s/21/21366_buy_offplan__and_you_will_be_quids_in_.html and a few others I have decided I'm definitely buying a new off plan one-bedroom apartment is just a matter of deciding which is going to appreciate the most.

Yep. If you can buy from a private builder (independent developer) who might only be building a few homes, off plan you can get a depo in at around £1500 sometimes on each one.

Make sure you have times all in contract, you dont want to be waiting 3 years for them to be built.

You can make a healthy profit if you do it right, plus as they say a new house is a new house :)

We bought a one bedroomed flat in phase two of the West One development off plan.

We were living in London at the time and wanted to invest in property to let out but prices down there were too high to make it feasible. So on a weekend trip to Sheffield we enquired at West One. We did our sums on the train journey back to London and put a deposit of £500 down the next day.

That was May 02. We exchanged within about 6 weeks and at that point had to put down 5% less the £500.

We didn't complete until April this year, when we had to pay the rest but that meant we only outlaid a very small amount over two years to secure a property that had gone up by at least 10% by the time we completed.

We are now renting the apartment out for more rent than we hoped in our original calculations - so we're laughing!

Definately would buy off plan again but only if the right development came up - and so far I haven't seen anything in Sheffield to rival West One for price, location and quality.

i bought off plan for £89k, when it was finished it was £120k and now 2 yr later its £155k so yes, buy off plan if you can. our sites not even finished yet and the prices just keep on a going! it was just a bugger when they said it would be ready for a certain month and three month later we were still waiting - thank god for parents letting me stop at theirs!! worth it in end though, just have to put up with builders every morning on estate - but i suppose they get me up in the morning! good luck