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Financing Your Off-the-Plan Property: Tips for Buyers in Gold Coast

By Coposit
28/04/2025

Buying property off the plan in the Gold Coast is a smart move for many Aussies. It lets you lock in today’s price while the property is being built. You also have time to prepare your finances before settlement. However, financing an off-the-plan purchase can be different from buying an established home. Here are some tips to help you get it right.

Get Your Finances in Order Early

Lenders usually approve loans based on your current financial situation. Since settlement might be months or even years away, lenders will check your financial position again before settlement. It is important to keep a stable income, avoid new debts, and save as much as you can. Building a financial buffer will give you peace of mind.

Coposit | Buy with $10K | Off the plan property | Off the plan Gold Coast
Villea Palm Beach | Off the plan Gold Coast | Secure with $10k and $2,728 x 33 weeks

Understand the Deposit Requirements

Most developers ask for a deposit of around 10 percent of the purchase price. This needs to be paid when you sign the contract. Some buyers use personal savings, while others use equity from another property. Having your deposit organised early helps you avoid delays and gives you more confidence during the buying process.

Coposit | Buy with $10K | Off the plan property | Off the plan Gold Coast
Harbour Shores | Palm House | Off the plan Gold Coast | Secure with $10k and $1,187 x 75 weeks

Be Prepared for Valuation Changes

When construction is complete, the lender will arrange a final valuation of the property. Sometimes the market may change and the property could be valued lower than the contract price. If this happens, you may need to pay the difference yourself. Saving a little extra along the way will help you cover any shortfall if needed.

How Coposit Makes It Easier

Coposit offers a simple way to secure your off-the-plan property without needing a full deposit upfront. With Coposit, you pay a small initial amount and then make easy weekly payments while the property is being built. You can secure your new home with as little as $10,000 and avoid the pressure of saving a large deposit all at once. Coposit is helping more Aussies buy property sooner and with less financial stress.

Coposit | Buy with $20K | Off the plan property | Off the plan Gold Coast
Flourish on Sixth Ave | Off the plan Gold Coast | Secure with $20k and $1,114 x 79 weeks

Work with a Broker Who Understands Off-the-Plan Loans

Off-the-plan finance is not the same as a standard home loan. It is important to work with a mortgage broker who has experience with this type of purchase. A good broker will explain the details, find a lender that suits your situation, and guide you through the process until settlement day.

Coposit | Buy with $10K | Off the plan property | Off the plan Gold Coast
Harbour Shores | The Waterline | Off the plan Gold Coast | Secure with $10k and $2,286 x 49 weeks

Plan for Extra Costs at Settlement

There are extra costs to plan for when buying off the plan. These include stamp duty, legal fees, loan setup costs, and possibly council rates or strata fees. It is a good idea to create a budget that covers these expenses so you are not surprised when settlement time arrives.

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