Should First Home Buyers Buy Off the Plan?

First home buyers are often tempted into purchasing Off the Plan
property – after all, brand new means problem-free, right? Well,
it’s a lot more complicated than that.


You can’t see, touch, or feel something that isn’t built yet and
there are a lot of risks that you have to consider before getting
anything brand new. 


Today, we’re sharing some real-life examples of what could go
wrong when you buy Off the Plan property, what in the world are
sunset clauses, when is the best time to buy property, what to do
when you get low valuation, and much more!


If you enjoy the show, do like, rate, subscribe, and share it
with others! We have loads of resources available and if you’d
like to chat, email us at support@homebuyeracademy.com.au!


We’ll see you on the inside! 



Episode Highlights:
“Brand new” does not mean “no problems”
[03:17] Understanding Off Plan contracts
[07:51] What are sunset clauses in property
contracts? [11:31] Potential financial losses when
buying your first property [16:56] What happens
when your valuation is lower than expected?
[20:22] Keeping track of the market and peak
seasons [25:00] The worst decision first-time home
buyers make [30:04] The (unpleasant) ways out of
low valuation [33:39] Should you take advantage of
government incentives? [39:30]


Links from the Show:


The True Cost of First Home Buyer Incentives #6

Property investors lose hundreds of thousands of dollars
through unregulated real estate advice 

What if your off-the-plan unit loses value before it’s
finished? 

Off-the-plan apartments fall in value leaving buyers
short-changed as COVID-19 hits

Melbourne buyers face valuations shortfall




If you enjoyed today’s podcast, don’t forget to subscribe, rate,
and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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