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We started our search 3 months ago. Our build just started. After a month there was a realisation that buying established in the location and trim we wanted there was going to be $250k premium over building. So spent the last 2 months finding land a builder and specing it all out. Getting what we want how we want for significantly less than established.
Thanks for the video. It is a great topic! Can you share some info about the home building plan, putting down a lump sum upfront, and making monthly installment deposits until the construction completes? I think I heard of it. I am in the US and plan to move to Australia. So I came across your channel which is very helpful. Thanks
10% may sound a lot for rentals, but there are cash flow issues nonetheless with this, such as the repair and maintenance of the place, which comes to on average about 3% per year. The interest rate, I am sure, you borrowed the money for the construction, so that makes it about 5% per year. Yes these a tax deductible, at the end of the year. The real cashflow is 2-3% left. A real losing proposition, not including the taxes you have to pay. Oh I forgot you are going to raise the rent for the poor tenants during the year, that is real ethical practice....! The construction cost can escalate depending on the weather, the delivery of materials, the worker shortages, etc....I think you need to come up with a MORE CLEVER strategy.....
