Hi All

After reading Steve's 5 Don'ts – Steve/Anyone else – does this mean it's a bad idea to buy an off-the plan property?
I note that with off-the plan purchases, one needs to have the finance approval at the time of purchase as well as at the time of settlement. It's a deposit of money sitting there doing nothing in a trust account and if one's financial situation changes at the time of settlement, obtaining finance to fund the purchase could be difficult. And the rental estimate provided by marketers of off-the plan property are speculative, because one is guessing/estimating rental amounts in a future market.

Would you agree?

Thanks.

Shirley

Hi All

After reading Steve's 5 Don'ts – Steve/Anyone else – does this mean it's a bad idea to buy an off-the plan property?
I note that with off-the plan purchases, one needs to have the finance approval at the time of purchase as well as at the time of settlement. It's a deposit of money sitting there doing nothing in a trust account and if one's financial situation changes at the time of settlement, obtaining finance to fund the purchase could be difficult. And the rental estimate provided by marketers of off-the plan property are speculative, because one is guessing/estimating rental amounts in a future market.

Would you agree?

Thanks.

Shirley