First Home Buyers: Why Off the Plan Can Help You Break Into the Market
Buying your first home is an exciting milestone – but in today’s property market, it can also feel like an uphill climb. With rising property prices, high living costs, and tightening lending conditions, many first home buyers are looking for smart ways to enter the market.
One option that continues to grow in popularity is buying off the plan – a property that hasn’t been built yet. While it’s not the right choice for everyone, it offers several key advantages that can make it easier for first-time buyers to get their foot on the property ladder.
At Crest Property Investments, we specialise in helping buyers navigate off-the-plan opportunities across Melbourne and Australia. Here’s why this approach may work in your favour.
1. Lower Upfront Costs
One of the most appealing aspects of buying off-the-plan is that you usually only need to pay a 10% deposit upfront, with the balance due at settlement – often 12 to 24 months later. This gives you extra time to:
- Save more money
- Organise your finances
- Prepare for loan approval
It’s a great way to secure a property today while continuing to build your financial position before settlement.
2. Stamp Duty Savings
In Victoria, first home buyers can benefit from stamp duty exemptions or concessions on properties under a certain value. With off-the-plan purchases, you may also qualify for additional savings because stamp duty is often calculated on the land value and partially completed construction at the time of purchase—not the full market value.
This can lead to significant cost savings, making your first property more affordable overall.
3. Access to Government Grants
Depending on your eligibility and the state you’re buying in, off-the-plan purchases may qualify for:
- First Home Owner Grant (FHOG)
- Stamp duty concessions or exemptions
- Shared equity or low deposit schemes
These government initiatives are often designed to encourage new builds and stimulate housing supply – making off-the-plan properties a strategic entry point for first home buyers.
4. Time to Plan & Prepare
Unlike established homes that require fast settlement, buying off-the-plan gives you a longer lead time. This can be beneficial if:
- You’re transitioning from renting to ownership
- You need time to sell another asset
- You’re planning around life events like marriage or starting a family
- You also get the chance to personalise your property by selecting finishes or layouts in some developments.
5. Modern, Low-Maintenance Living
Brand-new properties are built to current building codes and energy standards, which means:
- Lower maintenance costs in the early years
- Better energy efficiency (and lower utility bills)
- No immediate renovations or repairs needed
- For first-time buyers, this means less stress and more time to enjoy your new home.
6. Potential for Capital Growth
In some cases, by the time the property is completed and ready to settle, the market may have moved – meaning your property could be worth more than what you originally paid. While this isn’t guaranteed, it’s a potential bonus if you’ve bought in a high-growth area.
At Crest Property Investments, we carefully assess locations with strong fundamentals, such as infrastructure, population growth, and lifestyle appeal—to help buyers make informed decisions.
Final Thoughts
Breaking into the property market isn’t easy, but buying off the plan could be the opportunity you’ve been looking for. With lower upfront costs, access to government support, and the chance to secure a brand-new home, it’s a smart and strategic choice for many first home buyers.
At Crest Property Investments, we provide a full concierge service to help you find, assess, and secure the right property – completely free of charge. From education to settlement, we guide you every step of the way.
How to source a property?
When sourcing a property, there are many opportunities but there are factors and fundamentals that should be considered to measure if the property is best suited to you or not. Seeking advice from a property adviser (buyers’ agent) will be the best way to buy the right property for you.
At Crest Property Investments, we help buyers source high-quality brand new and off the plan properties across Melbourne and beyond – backed by research, data, and local insights.
If you’d like some assistance sourcing a brand new or off the plan property, please don’t hesitate contact us.
We would welcome the opportunity to help with your property purchase. Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
August 2025
