I have the chance to purchase a new off-the-plan investment house for 10% cash deposit now, settlement July 2006.
My question is does anyone have experience of a similar deal, did it work out as expected and would you do it again ?
Any other comments on your expectations for the next 2 years appreciated also.
After reading the 8%+ interest rates
story today on news.com.au I am concerned about the long settlement time.BTW the development is going to be the Commonwealth athletes village (hence the July 2006 settlement after the games). There does seem to be a lot of genuine interest in the development.
Doreilly
________________________I spent most of my wages on women, booze and fast cars. The rest I wasted.
Do a search for Off the Plan or OTP.
Many people did well during times of high growth. I think you need to be cautious now. There are reports of people having to settle and finance properties worth less than they paid a year or two ago.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have seen a lot of clients recently where the values have come in less than the contract price a few years earlier.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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