In today's housing market there is greater pressure than ever to secure that dream home. But what if you just can’t find the property you want right now. Is the market looking difficult to you?

Maybe there are plenty of properties out there for sale but many are too highly priced or perhaps you’ll find they are just not suitable for your needs. And if you do find one that is just right, there is the worry that it will be just right for all the other people like you too. Will you be gazumped after all that hard work searching?

One increasingly popular option people are taking to avoid the hassle is buying off-plan. This is where you buy a house on a new development without having actually seen your bricks and mortar. Basically you buy direct from the developer - that is, to reserve a house that has not yet been built. It is exciting to do but it can carry risks as well as benefits.

The upside is that you will not have to traipse around making appointments for viewings only to be disappointed the moment you walk through the front door. Neither will you be pressurised into moving on a date that does not suit you. There will be no onward chain to go wrong and the weeks of worry and frustration that normally go with purchasing a house will be replaced by the satisfaction of watching your house being built and knowing that plans can be made without fear of the whole lot being scuttled by someone coming along and offering a slightly higher price.

Off-plan homes have all the attractions associated with new houses. Freshly decorated rooms need only minimal maintenance, and energy efficient heating systems and good insulation mean that running costs are low. Buying off-plan avoids the threat of being gazumped and the house will be the end of the selling chain.

These advantages are important but house buyers should also be aware of both the advantages and potential risks that may be involved.

One of these potential difficulties is the fact that there isn't usually a fixed date for completion in the contract. If there are planning delays or any other hold-ups, such as bad weather while the house is being built, it could mean your moving-in date is pushed back by months.

And if you do move in early you’ll almost certainly be subjected to the mess and noise of other building work going on around you. The road may not be fully made up and even if it is it will likely be periodically covered with mud and mess. A good developer will clean up often, and if building has started on the site, you’ll be able to check for yourself, but no matter how diligent he is, the fact it that building is a messy business.

Buying off-plan requires more that a little imagination to foresee what the development will look like in a few years. First of all there is the house itself, you may be lucky enough to see a show home, but far more likely you’ll only see plans. Then there is the consideration of how close your neighbours will be, what size and slope will the gardens be etc. Unless you are good at interpreting plans this could present some surprises. You’ll also need to dig into what may happen when the development is finished. For instance, has an area been left undeveloped and what would be permitted development there? Could your 20-home development later become a through-road for something much larger?

Another issue you’ll want to address is the quality of workmanship, this is where the National House Building Council might come in. "Off-plan homes are a contract between the buyer and the builder," says the building insurance provider, "but if the builder has an NHBC warranty and you do have problems there is something we can do about it."

For the first two years after the house is complete, the builder is responsible for rectifying defects or damage in the home which do not comply with NHBC’s Technical Standards.

If a homeowner and builder don’t agree on what repair work is required, NHBC can offer its free independent Resolution Service. This involves NHBC carrying out an investigation of the problems and instructing the builder to carry out repair works where necessary.

Finding a developer who has NHBC cover is clearly a tick box item but there is no substitute for taking a look at other properties being built by the same builder and developer.

Another advantage of selecting a developer with NHBC cover is that if a builder becomes insolvent before a home is finished, NHBC refunds the deposit or protects the buyer against financial loss caused by incomplete or faulty construction.

If all this look a little daunting take another look at the plus side. A house building guarantee will last for 10 years, or more in some cases. So structural defects will not be a concern. You will spend a little interesting time in an office, pay a deposit and that’s it - house purchase over! The mortgage and legals can be completed at leisure and likely the searches will be relatively hassle free and low cost.

You are almost certain to be told that you will buy the property at a very good price. Indeed the value of your property may increase in value before you even move in.

Because the price of an off-plan home is fixed at an early stage, it often allows the purchaser more time to save up and arrange their mortgage, this could be a worry saver for first-time buyers, who don’t have a property to sell and often can wait longer than others.

But beware of expecting too much increase in value. At a time when average house prices are not moving you could be left with a decrease in value in some areas.

Many off-plan developers offer special discounts to tempt purchasers but your homework on prices the same as selecting a developer and investigating the plans. Don't fall for inflated discounts or developer incentives as some firms inflate the initial price so that they can offer headline-grabbing discounts.

Another price pitfall for buy-to-let investors buying off-plan in a large development is that when these properties come onto the market at the same time, they can drive down rental yields and resale value.

Potential risks as seen by the NHBC:

• Your contract will not usually include a fixed date for completion and you could find the house is finished later than expected. Uncontrollable events like bad weather can slow down the rate of construction.
• You may be buying a product you have not seen, can you be sure you will like it?
• It might be difficult to visualise dimensions such as room sizes, garden size or proximity to neighbouring houses.
• As an occupant in a new development you may be disturbed as building work continues on the site.
• During construction the roads will not be made up properly and there could be heavy lorries and machinery on them
• Remember to ask the builder or site staff about how long it will take to complete the house and, if the development is in the early stages, find out when the site will be finished

And the advantages:

• Buying off plan is quick, there is no need to view different properties, just visit the site office to see the plans
• The value of the property can increase even before you move in.
• If the house is registered with NHBC it will be protected by NHBC's ten-year Buildmark Cover for new homes
• After putting down a reservation fee you have longer to arrange a mortgage
• You can have the satisfaction of watching your house being built