A Step-by-Step Guide to Buying Off-the-Plan with Coposit

Buying a property off the plan is a smart way to secure your first home or investment. It allows you to lock in today’s price and pay over time. If you’re a first-time buyer, the process might seem confusing. This guide walks you through every step — from choosing the right development to moving in.

Let’s break it down.

What Does “Buying Off-the-Plan” Mean?

When you buy off the plan, you're purchasing a property that hasn't been built yet. You agree to buy based on plans, floor layouts, and artist impressions.

Key benefits:

• Lock in the current market price
• Smaller upfront deposit
• More time to save while it's being built
• Possible stamp duty savings (depending on your state)

Auburn Square, North Village | Off the plan Sydney | Secure with $20k and $395 x 109 weeks

Step 1: Understand Your Budget

Before anything else, know what you can afford.

Start with:

• Speaking to a mortgage broker or lender
• Checking your borrowing power
• Reviewing your income, expenses, and savings

Tip: Don’t forget to factor in costs like stamp duty, legal fees, and moving expenses.

Danks St District | Off the plan Sydney | Secure with $20k and $982 x 79 weeks

Step 2: Explore Off-the-Plan Projects

Now that you know your budget, start looking at available developments.

What to look for:

• Location and future growth potential
• Developer reputation
• Amenities and finishes
• Estimated completion time

Use trusted platforms like Coposit to explore quality developments across Australia.

The Markets Residences | Off the plan Canberra | Secure with $10k and $577 x 39 weeks

Step 3: Use Coposit to Get Started

Coposit helps Aussies buy off-the-plan properties with no large upfront deposit. Instead of a big lump sum, you pay weekly amounts while your home is being built.

Why Coposit?

• Start with as little as $10,000
• Pay weekly while the property is constructed
• Secure your future home without waiting years to save

It’s a game-changer for first home buyers and investors who want to get into the market sooner.

The Abbotsford | Off the plan Brisbane | Secure with $10k and $1,327 x 61 weeks

Step 4: Review the Contract Carefully

Once you find a property you love, the developer will issue a contract of sale. Always get legal advice before signing anything.

What to check:

• Sunset clause (completion deadline)
• Deposit schedule
• Inclusions (fixtures, finishes, appliances)
• Body corporate details

A property lawyer or conveyancer can help make sense of the fine print.

Rhodes Bay | Off the plan Sydney | Secure with $10k and $682 x 113 weeks

Step 5: Secure Your Finance

Even if you don’t need a home loan right now, you will need it by settlement. Lenders usually offer pre-approval valid for 3 to 6 months. Since construction might take 1 to 2 years, you’ll apply for final approval closer to settlement.

Tips:

• Keep your finances stable (avoid big new debts)
• Save as much as you can during construction
• Keep regular contact with your broker or lender

Pyrmont Place | Off the plan Sydney | Secure with $20k and $821 x 131 weeks

Step 6: Track Progress During Construction

Stay updated as your property comes to life. Many developers provide regular updates or newsletters. You may also be invited to site visits or display suite tours.

Watch for:

• Construction milestones
• Delays or changes
• Final finishings and handover updates

Cosmopolitan, Parramatta | Off the plan Sydney | Secure with $10k and $567 x 136 weeks

Step 7: Pre-Settlement Inspection

Before you take ownership, you’ll inspect the finished property. This is your chance to check that everything matches the contract.

Checklist:

• Fixtures and fittings installed correctly
• No damage or defects
• Appliances and plumbing working properly

Note anything that’s missing or needs fixing before settlement.

Step 8: Settlement Day

On settlement day, your lender pays the remaining amount to the developer. You receive the keys, and the property is legally yours.

What to organise:

• Home insurance (required by lenders)
• Utilities and internet setup
• Removalists or moving services

Step 9: Move In or Rent It Out

Congratulations — you’re now a property owner! Whether it’s your first home or an investment, enjoy the benefits of buying smart and early.

Start Your Off-the-Plan Journey with Coposit

Coposit makes buying off the plan more accessible. With smaller upfront costs and weekly payments, you can enter the property market sooner. Browse developments, track your payments, and reach your goals — all in one app.

Buying Property Off the Plan: Tips for First-Time Buyers

• Use a budget calculator to plan ahead
• Always get legal advice before signing
• Choose a location with future growth
• Stay updated during construction
• Keep your credit clean for loan approval
• Ask questions — no question is too small