Property lawyers will tell you that buying property off the plan means you are putting down a deposit for a property that is not yet built. This happens most often when a property developer buys a big acreage of land that he intends to subdivide into smaller blocks and build homes on, then sell. To get the money for that, he advertises the plans, which allows prospective buyers to choose one of many blocks in an area they like.
There are pros and cons of buying off the plan that should be carefully considered before going ahead.
There are several advantages for this type of purchase.