Hi everyone,
Apart from the obvious benefits of buying off the plan (stamp duty savings, and extra $7000 for FHB), are there any additional benefits or downfalls of this option?
I would be looking to live in it for the first 1-2 years (although I know this will mean tax benefits from depreciation won’t be maximised) and then use it as an IP.
Another thing, the block I am looking already has plans, however the land it will be built on included a 3.5m sewage easement on two sides of the property… Could this make it harder to sell down the track, or is it fairly common for properties to contain this amount of easement?
Any advice/suggestions/recommendations would be much appreciated.
As a final point, as I plan to use this as an IP in a few years and then buy again, I plan to take out an interest-only loan with an offset account (both through commbank)… any thoughts on this?
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I'm also looking at some properties that are off the plan but it just seems like the stamp duty saving have simply been added onto the price of the house in order to maximise the builders profits. I reckon it really depends on the property you're buying.
I've seen older (5 years old) 2 bedroom units in Melbourne's inner west selling for around $320k while brand new ones in the same suburb with the exact same features (single car garage, one bathroom) selling for about $430k. The rental income from both properties is comparable. It just seems like the whole stamp duty savings stuff is an excuse to dratically increase prices.
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