To buy or not to buy (off the plan) is an important issue for an increasing number of new homebuyers and property investors.
When done responsibly with professional guidance (offered by Jim’s Building Inspections, for example) it can be a positive life-changing decision. But things can also go awfully wrong without solid guidance.
In our major cities, for example, some property investors are finding out that there are dangers connected to buying off the plan at the peak of a housing boom. As Business Insider Australia notes: “30% of Sydney buyers are moving into new apartments worth less than what they paid for.”
In the worst case some people run into trouble with their bank and are forced to sell for a lower price. There are also traps with developers and these raise legal questions. So go ahead. Talk to experts.
Image Source: https://www.businessinsider.com.au/sydney-melbourne-buyers-off-the-plan-apartments-losing-value-2018-10