- Jamie M wrote:The thing I dislike about new properties is that the vast majority of the time there's middle men making large profits – and it's the buyer that's paying for it…..and if it's an off the plan property, that comes with a whole other set of risks to consider, especially if the development isn't due for completion for quite some time.
Cheers
Jamie
Jamie,
Profits or middle men, if you are buying at the right new price, the property should only be 3-4% MORE expensive then the average old would be. That's not much extra for peace of mind, ease of maintenance, reduced stamp duty, depreciation and rent-a-blity. Exchanged, settled, built and rented in less than 30 weeks.
With a 4 bd house build cost to the investor at below $880 per square metre NET (4 Bedroom, 2 Bath, 2 Car, 212M2 in Queensland) it all stacks up.
Modernity Investing
Email MeHi Mark
Personally I haven't come across a new property that looked like an appealing investment and they don't work with my strategy of buy, reno and hold.
I'm sure there's some good ones out there where the numbers stack up – but I've also seen plenty of spruikers making $20k+ commissions from acting as a middle men in the transaction. Normally for high density stuff up in QLD.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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