So I'm seriously considering buying my very first property off-plan. There's a developer that is currently selling units off-plan. From their website http://www.genesisprojects.com/, there are a number of developments going on.
How risky is it to buy off-plan? I've read a few article so far, such as this:
So I know the basics of what to look out for.
Would you buy off-plan?
A few things that attract me to buying off-plan is the thought of moving in to a brand new apartment with new household items that will last for a few years before they need maintenance. I also like the idea of not paying my bond monthly installment until I move in. This means the initial price of the property, under normal market conditions, will increase even before I move in. If, after 2 years, I work for another company at a far away location. Then I can simply rent out the property or even sell it at a reasonable profit.
What do you guys think?