Are you wondering about what to choose between off-plan vs. key ready apartments? Discover the differences and my 11 reasons why I chose to go off-plan. This might be the smartest choice that you will ever make.

When you’re thinking about buying an apartment property, the decision often comes down to one crucial choice: off-plan vs key ready apartments. As someone who’s been through both processes, I know firsthand how daunting it can be to weigh these options.

After doing my homework and living through the experience, I came out with a strong conviction that buying off-plan apartments is a more strategic choice in most cases. In this piece of content, I’ll take you through why this option might be better for you too, from an investment perspective, financial flexibility, and customization benefits, to some risks worth considering.

What’s the Difference Between Off-plan and Key Ready Apartments?

Before diving into the pros and cons, let’s establish what exactly we’re talking about when we compare off-plan and ready apartments.

• Off-plan Properties: These are units you purchase before they’re fully built. Typically, the developer presents you with a layout, a set of renderings, and perhaps a model unit to view. You buy the apartment during the construction phase, and it will be handed over once the project is completed.
• Key Ready Apartments: On the other hand, ready properties are fully constructed and available for immediate occupancy. What you see is what you get. You can visit the apartment, assess the finishes, amenities, and layout, and then make a purchase decision.

But why would you choose to buy a property that doesn’t yet exist physically? Let’s dig into why an off-plan property might just be the better route.

1. Price Advantage- Off-plan Properties Are Cheaper than Key Ready Apartments

One of the primary reasons I leaned toward buying off-plan was price. Off-plan apartments are typically priced lower than ready apartments. Most developers will offer them at a discount to incentivize you as an early buyer and to raise capital for construction.

For example, I secured a three-bedroom off-plan apartment in a prime location at about 20% less than what ready apartments were selling for in the same area. This initial price difference meant that I was able to stretch my budget and invest in a larger property in a desirable neighborhood. If I had waited for it to be completed, I would have either paid significantly more or settled for a smaller unit.

The lower initial cost also means you’re more likely to secure better financing terms, with lower loan amounts or smaller down payments. Since mortgage financing options can be more flexible when your loan is smaller, this can make a big difference in the long run.

2. Financial Flexibility- Payment Plans Make It Easier

Unlike ready apartments where you usually have to make a substantial down payment followed by securing a mortgage, off-plan properties often come with flexible payment plans. These plans allow you to spread payments across the construction period, rather than having to pay everything upfront or upon handover.

In my case, the developer allowed me to pay 10% upfront, another 40% spread over the construction timeline, and the remaining 50% upon completion. This allowed me to better manage my cash flow, invest in other areas, and even set aside funds for future property market trends and investments.

Real estate investment can be tough, but these payment structures make off-plan properties far more accessible, especially for first-time buyers or those without large savings readily available.

3. Customization Options- Tailor Your Dream Home

Here’s something most people don’t realize: off-plan properties allow you to customize your apartment. This was a game-changer for me. By buying early, I had the option to pick my finishes, change the layout slightly, and even upgrade some of the fixtures before the apartment was built.

Ready apartments rarely, if ever, offer such flexibility. When you’re buying a ready apartment, what you see is what you get. Sure, you could renovate later, but that’s an additional cost. With off-plan, I worked directly with the developer to ensure that the apartment was aligned with my vision. That meant a more personal living space, designed exactly how I wanted it, and without the hassle of construction after move-in.

4. Investment Returns- Off-plan Apartments Appreciate in Value

This is where off-plan properties shine, especially for investors. By the time my apartment was completed, it had appreciated by 15%. And I’m not the only one who’s experienced this. Off-plan properties have a tendency to appreciate during construction, particularly in areas where there’s strong real estate market growth.

The reason is simple: as the building nears completion, demand increases, and so does the value of the units. If you buy early, you will sell at a premium even before the building is finished. this will enable you to profit from the appreciation without ever having lived in or rented out the property.

If you’re considering real estate purely as an investment, buying off-plan gives you a significant advantage. You essentially lock in today’s price for tomorrow’s value.

5. Lower Risk of Obsolescence- Off-plan Equals New and Modern

Another benefit of off-plan properties is that they are brand new. There’s no wear and tear, no outdated fixtures or finishes, and the building itself meets the latest building codes and energy efficiency standards.

This may not seem like a huge deal until you’ve purchased a ready apartment that needs an immediate overhaul. In my experience, new buildings come with fewer surprises—there’s no need for repairs, and warranties cover any defects for the first few years. Plus, newer developments are often built with modern conveniences and amenities that older buildings may lack, like co-working spaces, gym facilities, or even smart home systems.

6. Choosing the Best Location- More Flexibility with Off-plan

One of the underappreciated aspects of buying off-plan is that you often get to choose from the best units in the building. As an early buyer, you have your pick of floor plans, views, and locations within the development. This means you can choose the corner unit with a panoramic view or the floor plan that best suits your needs.

When buying a ready apartment, the choices are limited to what’s available. The location and unit you want might already be taken, and you could be left compromising on something that’s not quite what you envisioned.

7. Developer Incentives- Extra Perks for Early Buyers

Another big perk of buying off-plan is that developers often throw in incentives to entice early buyers. In my case, I received free kitchen appliances and a reduced rate on parking spaces, which I wouldn’t have gotten if I’d waited to buy a ready apartment.

Developers are motivated to sell a certain percentage of their units early in the project to secure financing and maintain cash flow, so they offer additional perks, discounts, or even free upgrades to attract buyers. This isn’t something you’ll typically find when buying a ready apartment.

8. Risks to Consider with Off-plan Properties

Now, I’d be remiss if I didn’t mention that buying off-plan isn’t without its risks. However, with some due diligence, these can be mitigated. One of the main risks is construction delays. A project might not be completed on time, which can throw a wrench into your plans if you were counting on moving in by a certain date.

To avoid this, it’s essential to research the developer’s track record. How many projects have they completed on time? Do they have a history of delivering what they promise? Developer reputation is crucial here. In my case, I spent a lot of time researching before committing to a project, and it paid off. My developer was reliable, and my apartment was delivered on time.

Another potential risk is the developer running out of funds and the project stalling. This is rare but can happen. To protect yourself, ensure that your contract includes clear terms about refunds or compensation in case of significant delays or project failure.

9. Legal Protections- Safeguards for Off-plan Buyers

In many markets, off-plan buyers are protected by real estate laws that ensure their investment is safe. For instance, developers are often required to place buyer payments in an escrow account, which they can’t access until certain construction milestones are met. This way, if the project doesn’t go forward, your money is protected.

In my case, I was careful to work with a legal team that ensured all the proper contracts were in place. This gave me peace of mind throughout the construction period.

10. Resale Potential- Off-plan Investments Yield Higher Profits

If you’re buying with the intent to sell down the road, off-plan properties often have higher resale potential. You’re buying at a lower price during construction, and by the time the building is completed, prices in the area have typically risen, especially in areas with high demand.

In my experience, off-plan buyers who held onto their properties for even a few years post-completion saw significant appreciation in value. This makes off-plan properties not only great for living in but also a smart long-term investment. Whether you plan to rent or sell the property, the potential for higher returns is a key reason to consider buying off-plan.

11. Off-plan: The Future of Real Estate Investment

As the property market evolves, off-plan properties are becoming more attractive. Developers are aware of market demands, and they’re building with the future in mind. This includes energy-efficient designs, smart home technologies, and sustainable living options. For anyone considering new apartment developments, buying off-plan not only positions you ahead of the curve but also ensures your property remains relevant and competitive in the future.

Off-plan Is the Way to Go

Choosing between off-plan vs. ready apartments ultimately boils down to your financial situation, patience, and willingness to take on a bit of risk for a bigger reward. In my experience, buying off-plan gave me flexibility, customization options, and a significantly better return on investment. While ready apartments have their merits, off-plan properties often offer a smarter financial move—especially if you’re looking to maximize your long-term real estate investment potential.

You Can Own Today

Have you considered buying off-plan? Share your thoughts or experiences in the comments below! Looking for advice on the best off-plan opportunities in your area? Feel free to reach out for a consultation +254112199999 or [email protected]. Do not miss any apartment from Buy Apartment Nairobi.