As an investor, having the opportunity to pick and choose
the specifics of the apartment you intend to buy is an excellent chance.
To have your say in what location within the building the apartment is
enables you to maximise the profit that can be made off your rental yield
for that investment.
By buying ‘off the plan’ you are able to have greater influence
over the development of the properties you invest in because you are signing
the contract before anything has been built. This gives you greater access
to change the structure and design of your investment property.
When the contract is signed only 10% of the fee needs to be paid, this
enables the investor to restructure and organise their finances over the
period of time in which the property is being built. This offers great
opportunities for the investor to balance their capital and enables payments
to be made without the necessity of something like a bridging loan.
There is also an enormous saving to be made by saving on stamp duty payments
that are vastly reduced within Victoria for off the plan property. The
stamp duty is paid in reference only to the cost of the land upon which
the building is on; it does not take into account the cost of the building
because it has not been built. This means that in comparison to properties
that have been built, the stamp duty for off the plan housing represents
a great saving.
Visit the Property Investor website: Buying Off the Plan