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Prop invest: is buying off plan still possible?
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anthonymartin
Posts: 15 Forumite
I have the opportunity to buy off plan on a 60 home development. Site is expected to be finished 12 and 18 months time. I am looking at sale and leaseback option. Will receive 6% from developer for duration of site development. Hoping to see capital growth of 15 - 20k and sell at the end as showhome. The income at 21k net is attractive but this will drop to market rent of 12k when developer leave the site.
Have spoken to local agents whose opinions are diifer
Opinion 1. Developer will have 20% new build premuim so very diificult to achive profit.
Opinion 2. If you buy sales home yes profit may be achieveable?
Is anyone a buying a single unit off plan? what other factors should i take into account?
Have spoken to local agents whose opinions are diifer
Opinion 1. Developer will have 20% new build premuim so very diificult to achive profit.
Opinion 2. If you buy sales home yes profit may be achieveable?
Is anyone a buying a single unit off plan? what other factors should i take into account?
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