Forum Replies Created
Re the “if you can’t afford it you can’t afford it” comment…
If you currently have low equity, but know that you will have a decent amount in two years, isn’t buying off the plan a good move? I mean, assuming that the price isn’t inflated, by holding a property now with a dep. bond, aren’t we effectively buying a property in 2 years at today’s price? All good in theory i know….
In a way, I guess it’s similar to a lay-by. I cant’ afford it now, so I put down a deposit and buy it when I can afford it.
Obviously, if the price is inflated, which many of you seem to think off the plan purchases are, then all of the above is a moot point…
Some more info on the purchase….
2 bed, 2 bath + study in woolongabba.
Company marketing the project is Property Direct (if anyone has any comments on this organisiation would be appreciated…)
There is no rental guarantee, and we are planning on keeping the property for the hoped-for capital growth.
We have two main reasons for buying off the plan now. First, all indicators are that Brisbane is in under-supply and will remain so for some time, and secondly, we don’t have the equity to purchase now, so we figured using a deposit bond to purchase a property now that won’t settle for approx. two years was the way to go.
