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Buying Off Plan - Good Idea?
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noyk wrote:Simple and complicated answer: no
Sweeping generalisation. Completed the purchase of my new build apartment in Oct 05 (Reserved and exchanged contracts in May 05) for 119,950. All very similar apart from 2 styles of internal layout. Two have just sold for £135,000Minus fees etc a tidy profit. So can be done, although I would heed the warnings of others. I knew the area very well and did lots of research and of course I live here so was not an investor.
There are lots of factors which will decide whether buying off plan will make a good investment, and of course it also depends on what return you are looking for and how quickly.
Simple and complicated answer - It depends. :cool:0 -
I like generalising, it gets the point over quicker.
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