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Hi Moloth,
I'm not sure about house and land but one of our purchasers, who bought a standard apartment with no NRAS attached (off the plan) independently went and applied for The NRAS on his apartment an was approved. I think it depends if the area is suitable.
There are time limitations on NRAS licenses, I'm pretty sure the building has to be completed by March of 2014 – or thereabouts.
Also, there ss a fee involved – again, not sure how much.
You are best to check with the department of sustainability
Dear Merahma,
I am a member of the management team at Motion Property and thought I would write in and share my thoughts with you.
We have sold many NRAS properties, and have been very diligent in ensuring we do our research and only take on properties that genuinely stack up.
I agree with both Derek and other members. The property needs to be a good investment, even without NRAS. All our NRAS properties come with current market valuations (for both the value and rental estimates). Furthermore, make sure you buy a property in a good area with strong capital growth, so that, if down the track, you decide to exit the scheme, you are able to lease/sell the property without any issues. Most our properties are in areas that fit these categories – Sandringham, St Kilda, East Brighton, Preston, Brunswick.
In relation to the cost – we do not increase the cost of NRAS properties compared to their non-NRAS counterparts. We are currently selling projects where we offer both options and there is absolutely no difference in the pricing. Although the developer pays to have the NRAS license attached to the property, we do not allow them to pass on these costs to the purchaser.
In terms of others who have bought through Motion Property, I am able to supply you with a number of satisfied clients who you can speak to direct. (Both NRAS and non – NRAS).
If anyone here has any further queries, I can be reached on 0433 999 357 or at [email protected]
