Should I buy off plan?
If you are looking for an investment property, my answer is a definite no.
The reason is, that you make your profit when you buy, so, if you don’t buy well, you don’t make a profit and your dreams of building a significant property portfolio will die.
So, how can I say that an off plan purchase is not a good buy? Simply because it is at market value and a good buy is always below market value.
The better you buy, the more successful you will be, so, get into the habit of putting in stupid offers and not caring whether they are accepted.
You’ll be making a profit on those few that are accepted.
Remember, the seller always wants to sell, but the buyer must never want to buy! That’s your advantage, so use it.
Image courtesy of Select Insure Group – Homeowners Insurance