Buying off-plan means committing to a home before it’s built. It can secure today’s price and the best plots — but it carries specific risks. Here’s how it works and how buyers are protected.
The process
You reserve a plot from plans and a show home, pay a reservation fee, then exchange contracts (usually within 21–28 days) with a deposit — commonly 10%. You complete later when the home is finished.
The rewards
- •Lock in today’s price in a rising market
- •First pick of the best plots and floors
- •Time to save before completion
The risks (and protections)
- •Completion can slip — check “long-stop” dates in the contract
- •Market or valuation could fall before completion
- •Your deposit is protected by the 10-year warranty provider’s scheme during build
- •Your mortgage offer must still be valid at completion
Key takeaways
- ✓Reserve and exchange now; complete when built.
- ✓Check the long-stop completion date in the contract.
- ✓Ensure your mortgage offer covers the completion timeline.
- ✓Deposits are protected under the new-home warranty scheme.
This guide is general information, not legal, mortgage, tax or investment advice. Rules, rates and scheme availability change — confirm current details with a qualified adviser before acting.