In the quest to secure their first homes, Australian first home buyers often encounter the tempting option of purchasing off-plan properties, especially apartments. These properties can offer enticing incentives, but are they worth the risk?

In this episode, we explore 10 reasons why off-plan properties are so high-risk for Australian first home buyers. We talk about the pressing issues surrounding off-plan apartments in Australia's real estate market. From potential delays and quality concerns to the uncertainties of the property's final value upon completion. This episode will serve as your guide if you're one of those first home buyers who wish to just settle for an off-plan property.

Tune in now to get the lowdown on off-plan homes and make the right first step towards buying your first property.

Episode Highlights:

00:00 - Introduction

02:23 - Reason #1: You can lose money

05:30 - Reason #2: Settlement rates

07:59 - Reason #3: Are you getting what you’re paying for?

10:06 - Reason #4: Having a false sense of security

13:15 - Reason #5: How many buildings have defects?

14:47 - Reason #6: Water problems

16:14 - Reason #7: The hidden risk of fire

19:12 - Reason #8: Defective materials

21:29 - Reason #9: Your physical and psychological well being

23:30 - Reason #10: Going to court

28:45 - Bonus: When you don’t buy off-plan, you can work out the price of a property

Resources mentioned in this episode:

• FREE Mini Course: How to price a property like a professional https://homebuyeracademy.com.au/freecourse

Resources:

• FREE TRAINING: How to make an educated decision so you buy your first home with the right amount of debt https://homebuyeracademy.com.au/webinar
• Visit our website https://www.homebuyeracademy.com.au/
• Learn how to buy property without making a mistake with our 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBG
• If you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast - [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/
• Work with Meighan: https://www.linkedin.com/in/meighanwells/

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

• Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825
• Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f

See omnystudio.com/listener for privacy information.