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clock Created with Sketch. 23/06/24
10:50
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Originally posted by rona142:
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I bought my first property off the plan in 2015 for $550k (we paid zero stamp duty and also got a FHOG of $15k so effective purchase price of $535k). We paid a 10% depoist upfront and nothing else was required to handover of the property. Settlement happened in June 2017 which is when we borrowed $400k @ 3.98%. From then until we sold the property mid 2023 rates dropped progressively to 2.34%. By the time we sold for $830k we owned the property outright. The proceeds of sale was $815k taking into account legal fees and agents commission.
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We purchase 2 units off the plan around 3 yrs ago and paid the total price up front $700,000 and the builder pays us 6% PA on our money until handover.
