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Off The Plan

Only the Foolish get Fooled

The general public have concerns about buying "Off the Plan'. These concerns arose after people bought into large scale projects that promised high returns that initially didn't deliver. Docklands, Melbourne is one of those projects which has proved otherwise.

Completion of the Docklands Project is expected in 2015. The redeveloped area will almost double the size of the city's central business district. With a residential population primarily living in high-density high-rise apartments, its population in 2006 was 4,279 persons. The residential population is expected to reach 20,000 in 2015. The 2004 employment in the area was 7,200 persons and is expected to rise to 25,000 in years to come. The precinct is a tourist destination and Melbourne's tourist authorities anticipate over 20 million visitors per year in future years.

The Gold Coast, Queensland is another project where initially returns were low. Now, long term investors are laughing. The 'get rich quick' speculators got cold feet and made losses.

The Gold Coast is now the second most populous city in Queensland and the sixth most populous city in the country. Gold Coast City is renowned for its sunny subtropical climate, popular surfing beaches, expansive waterway and canal systems, a skyline dominated by high-rise apartment buildings, active nightlife and wide variety of tourist attractions.

Remember, that real estate investment is long term. Those investors that wore the initial period of low returns and stuck with their investments are all now laughing. The Gold Coast and Docklands projects were projects where people bought 'Off the Plan'.

So any negative hype associated with buying 'Off the Plan' has been drummed up not by the smart long term investors, but by short term, 'get rich quick' speculators who failed.

The Benefits of Buying 'Off The Plan'

Stamp Duty Savings

Stamp Duty is a term commonly used to describe the duty charged on various dutiable transactions. It is imposed under the Duties Act. Victoria is the only state in Australia where you can save money on the Stamp Duty on property by buying 'Off the Plan'.

Delayed Settlement Gives you More Time to Save a Deposit

A 5 to 10% deposit or deposit bond is all that is required to buy a Victorian Property 'Off the Plan'. The balance is paid on completion of the development. This gives the purchaser time to maximise and organise their financial affairs.

Significant Tax Savings

'Off the Plan' purchases qualify for significant depreciation tax savings that are greater than those available on existing buildings if purchased for investment purposes. Depreciation expenses that can be claimed include building, furniture and fittings.

Wider Selection in the Development

Buying 'Off the Plan' does not limit your options in terms of variety, i.e. price, size, etc. Purchasers often have the option to choose from a wide variety of properties in the one project.

Where to from now

Properties are available in high growth areas such as around the bay areas of Melbourne, the Gold Coast and Perth/Freemantle areas. These projects range from house and land packages to appartments and townhouses.

Available properties range from $170,000 to $2,5 million and are typically not offered to the general public. Projects are boutique developments and are dealt with exclusively by the AFG licenced real estate agents through the AFG Broker Network.

FYI: AFG is the largest wholesaler of finance in Australia boasting $3.2 billion in loans per month. Their reputation is impeccable.

The service seeks to provide a seamless assessment, inspection and purchasing experience to all clients by offering professionalism, competency, honesty and integrity. The aim is to make the process of acquiring and retaining property as simple and smooth as possible.

Fill Out the Form

If you'd like to move ahead and obtain up-to date expert information from leaders in their field and utilize your time for more pleasurable activities feeling assured that you're in good hands then please fill in the form below and I'll have a Release and Consent form e-mailed to you so that you can talk directly to the AFG exclusively licenced real estate partners I'm proud to refer my clients on to.