Home · Guides · Buying off-plan: risks and rewards

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.