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Off The Plan & New Apartments for Sale in Parramatta

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  • The listings available on this page are for Paramatta NSW 2150. Find more off the plan apartments in Sydney here.
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About Parramatta NSW 2150

Paramatta is the second largest CBD in Sydney and with that hustle and bustle comes opportunities for investors and those looking to purchase a new home. With all the rapid developments taking place in Western Sydney, it is only natural that people have begun to pursue properties in order to take advantage of the development that is occurring in the growing metropolitan.

Paramatta is a perfect storm of everything that you could ever need. It has all the facilities and services within easy access; eat, work and play – all connected through a reliable network of roads and a range of public transport options including busses and trains.

Paramatta also prides itself on its amazing selection of multi-cultural culinary delights that are available within the area as Western Sydney holds the title of the most culturally diverse region within NSW. Moreover, access to educational facilities are within reach with a wide range of schools (public and private) and even the renowned Western Sydney University which has a campus situated within the area.

Off the plan apartments in Parramatta

Major Upgrades Of The Suburb

A series of major Upgrades In Paramatta has made the region even more desirable. Across the region, projects are already under construction in Paramatta’s precincts to create major improvements that will make work and accessibility even more efficient.

Paramatta’s new Aquatic & Leisure Centre

The Aquatic & Leisure Centre will be located in Mays Hill in Paramatta Park and is aimed at creating a new space for social space for the community. The $77 billion project will feature an impressive list of amenities which include:

  • 3 multi-lane swimming pools
  • indoor water playground
  • spa and sauna facilities
  • fitness centre
  • café & restaurants

Sydney Metro West Railway Project

The Sydney West Railway Project is a $6.4 billion project that focuses on cutting travel time to the Sydney CBD – 20 min travel time! This transport evolution within the region is determined to unlock even greater growth through connectivity to Sydney city.

Paramatta Quay and Charles Street Square upgrade

Expected for completion in late 2022 (or early 2023), Paramatta Quay will become a gateway into the Paramatta CBD via ferry. After it becomes available to the public, Paramatta will be able to comfortably facilitate the movement of commuters within the transportation and leisure hub.

Paramatta Square

A massive $2.7 billion dollar development that is aimed at the rejuvenation of Paramatta CBD to further solidify its title as a buzzing business district. The project will result in:

  • 6 new buildings
  • premium office spaces
  • A refurbished town hall
  • Precinct for retail and restaurants

Paramatta square will undoubtedly become an iconic hub for all things shopping, dining, eating, business and investment.

Current Parramatta Projects

Paramount on Parkes – Parramatta

Fancy an apartment in Paramatta? We think this off the plan apartment might catch your eye!

An apartment in Paramatta is almost guaranteed to provide both buyers and investors alike with an uncompromising return on value. Paramatta Apartments at Parkes Street Parramatta NSW 2150 are serving all of the most sought after (and more) amenities of luxury living at your doorstep!

An excellent selection of 1,2 &3 bedroom apartments with open living spaces topped off with a stunning city view. Take apartment living to the next level and live right in the centre of all the best things that Paramatta has to offer!

  • Podium and rooftop amenities complete with a swimming pool and 300 sqm of communal space paired with a stunning garden.
  • Proximity to the entertainment and culinary hotspots
  • The utmost degree of accessibility within walking distance public transport stops walking distance away from the residence.
    • 5 min walk to Paramatta station
    • 10 min walk to the local Ferry Wharf

Why should you buy off the plan apartments?

A multitude of financial and peace of mind benefits come to mind when purchasing an off the plan apartment. These benefits make off the plan buying enticing to both investors and even first home buyers.

Build a home that’s your own

When you desire a house that reflects your personality, an existing property might be difficult to work with. The time spent building provides a chance for design input. This means you might be able to negotiate some aspects of the property with the developer and have first dibs on amenities like floor plans, level, colour scheme, and parking. You will also have the option of selecting the greatest apartment in the complex that best meets your needs. Put simply; you enjoy something brand new!

Save money on repair/renovation costs

When buying real estate under the traditional method, there’s a chance the property could come with a few flaws and problems from normal wear and use. This is no longer a concern with an off-the-plan purchase because it results in a brand new, high-quality house that is unlikely to require any costly or dramatic alterations or repairs in the coming years. This means that you won’t have to worry about a home that comes with mould, cracks, faulty floorboards or any other concerns.

More time for saving

Make time work for you! An off the plan apartment purchase can help solve many financial worries when buying an expensive commodity such as real estate which comes with a hefty price tag. The construction phase serves as breathing room to assist you to build up your resources, allowing you to prioritise your spending, save for a larger deposit, or lower your loan debt. Therefore, off the plan apartments could be a better way of remaining financially secure during the home acquisition process.

Take advantage of Capital Gains

The price has already been locked in early and will remain unchanged for the rest of the process as the property is considered ‘sold’ in advance of the settlement date. Meanwhile, the time it takes to build it enables financial gains to be made as the house has the potential to grow in value during or when the wait time is finally finished. To sum it all up, your off the plan apartment could be worth more (thanks to Sydney’s increasing housing market) by the time you settle in.

Tax benefits

This one is for the investors! Looking to rent your apartment once construction is complete? You could claim tax deprecation on the property and its contents when you lodge your tax return. This could result in potentially thousands of dollars saved.

Your Purchase is protected

Every sale of an off-the-plan apartment in New South Wales (NSW) will be protected under Fair Trading NSW. Furthermore, developers and sellers must disclose all appropriate information regarding the property. Vendors must also include a disclosure statement in the contract that explains essential details such as sunset dates and other conditional events and draught papers such as a plan, planned schedule of completion, etc. Thus, you can be fully assured that there are measures in place to ensure the security of your next off the plan apartment purchase.

Moreover, if any major complications occur during the process, you are typically entitled to be notified or even have your deposit returned if development stops.

The process of buying off the plan property in Parramatta

An off the plan property purchase can be quite simple, yet it’s often misunderstood. The process can differ on a case by case basis, but the common recurring elements in the process can be broken down into a few easy easy steps!

Make an offer or an expression of interest

An off the plan apartment can be researched and bought at an auction or for a set amount. Developers also employ a selection of real estate firms to market their homes. A contact agent may be marketing and selling properties concurrently with the developer’s own marketing and sales efforts. Getting in touch with a real estate firm can be as simple as a google search.

Note: An expression of interest does not secure the apartment for you. It is merely a signal to the vendor of a prospective buyer.

Contract signing and deposit payment

Typically, a 10% (or even as low as 5%) initial deposit is required in order to initiate the sale, and the rest does not need to be paid off until after the project is complete (which could take months or years).

It is important to note that when approaching a contract for an off the plan apartment, one must proceed with caution and consider whether the terms and conditions are suitable to your liking.

Construction takes place

As mentioned earlier, this is your time to save! It is also this stage that you may be able to negotiate to have a level of design input and tailor your apartment to suit your needs.

Pre-Settlement and Valuations

This stage takes place after the project is complete. In this stage, the construction will be completed and buyers will have the opportunity to physically inspect the apartment and see all the floor plans and CGI that were observed during the initial steps of the process, be fully materialised.

Settlement

We’ve arrived at the end! The property’s remaining debt will be paid off, and the keys will be handed over. Buyers can now enjoy their new apartments!

Get Started Today!

With all that out of the way, we hope you’ve managed to learn the ins and outs of off the plan apartment buying, we hope that you have all the necessary tools to get started in your next real estate move.

Liviti is eager to be a part of your off the plan apartment journey and we are dedicated to making an often misunderstood process as easy as can be!

How to register:

We recommend looking into some more of Liviti’s websites to learn more. Feel free to click “Talk to an Expert” on our website to get in touch with one of our team members who will be ready to assist you in your next steps!

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