We're considering buying an apartment off the plan in a desirable village 7km from the CBD. It's an area with a few new developments springing up and a good investment..the developers are very reputable and large so that doesn't worry us. It won't be ready for two years which gives up time to pay stamp duty before we move in.
We are however a couple with a small child and its our life savings for the 10% so we're naturally nervous. We can't afford to buy a house and don't want move out of the area. The feeling we may miss out on a good development is propelling us a bit. Sydney will only be more expensive in two years!
We can research risks on the net so I'd really love to hear from individuals who have personally bought off the plan. Positives and negatives from your own experiences would be really helpful.
Thanks in advance!
There was a story about buying off the plan on Sunrise yesterday (Tuesday) it may be worth having a look at it
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