Hi friends,
I have been hearing /going through some discussions on off the plan properties with most suggestions here tipping towards steering away from OTP properties. The main problem being as I understand it is the fact that you would tend to overpay.I have recently come across an advert that basically has the land advertised with plans (which seems to be fair priced) but gives you the option to build on your own. I quote from the advert :
“Plans for a xxx bedroom, xxx bathroom, xxx Garage Unit in Prime Location with the option to find your own builder”
Does this classify as an OTP property ?if I were build on the land with the plans provided my calculations suggest that the property would have good potential to be CF+.
Any guidance would help.
Thanks ,
ABIf the land already has its titles released and can be purchase immediately and there’s no requirement to go through the builder, that’s not OTP. It’s just a land developer showing a house available which can be built on site, many builders do this to drum up business as advertising.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Thanks Corey! Appreciate the response.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
