Post to Facebook on 28/7/2018 at 1:24 AM
Commenting on “Apartments in Melbourne’s inner-city are selling at a loss”
https://www.domain.com.au/news/apartments-in-melbournes-innercity-are-selling-at-a-loss-agents-say-20180727-h137d5-754821/
Land, land, land NOT air, air, air!
When you buy a high rise apartment which occupies very little land on the ground, because the total land size occupied is apportioned proportionately to the various apartment owners.
You can’t extend or modify the external of the apartment, and enlarge or contract the boundary. You can’t demolish it no matter how much you do’t like it.
Yes, you are paying expensive space, or air space, which incidentally not the same kind of Air space for a plane to fly over.
Many readers by now know my sentiment about apartment investment, and often I do not want to advise those owners, who never listened to me and went ahead to buy those apartments, how to minimise their losses.
In fact, I had an hour chat with the principal of a local law firm that many people would not value free advice. Well, well, well, you have been reading my free blogs from this “dummy”!
True, there are people with ulterior motives, because you and I are reminded repeatedly that there is no free lunch. It is important for you to assess the validity of the advice, either paid or free, and make your final decision.
Living in an apartment is a life-style choice. If you choose to invest in an apartment for capital grow, you are taking too much risk.
Remember, if you are contemplating to buy and live in an apartment after years of living in a house, either you are downsizing or want to join in the hustle and bustle of the city life, I suggest you to take up a one-year lease of an apartment and try it out. If you do not like it, the financial loss is minimal.
Most, if not all off-the-plan apartments are sold at inflated prices, especially those also market to overseas buyers. Who do you think pay for all the overseas marketing and promotion expenses, not to mention the sales representatives overseas want a cut as well.
I cannot be any more blunt than to say cut your losses sooner!
No matter whether you are buying or selling any property, and if you have doubt, do consult your qualified investment/financial advisor.
Thank you for reading.
Commenting on “Apartments in Melbourne’s inner-city are selling at a loss”
https://www.domain.com.au/news/apartments-in-melbournes-innercity-are-selling-at-a-loss-agents-say-20180727-h137d5-754821/
Land, land, land NOT air, air, air!
When you buy a high rise apartment which occupies very little land on the ground, because the total land size occupied is apportioned proportionately to the various apartment owners.
You can’t extend or modify the external of the apartment, and enlarge or contract the boundary. You can’t demolish it no matter how much you do’t like it.
Yes, you are paying expensive space, or air space, which incidentally not the same kind of Air space for a plane to fly over.
Many readers by now know my sentiment about apartment investment, and often I do not want to advise those owners, who never listened to me and went ahead to buy those apartments, how to minimise their losses.
In fact, I had an hour chat with the principal of a local law firm that many people would not value free advice. Well, well, well, you have been reading my free blogs from this “dummy”!
True, there are people with ulterior motives, because you and I are reminded repeatedly that there is no free lunch. It is important for you to assess the validity of the advice, either paid or free, and make your final decision.
Living in an apartment is a life-style choice. If you choose to invest in an apartment for capital grow, you are taking too much risk.
Remember, if you are contemplating to buy and live in an apartment after years of living in a house, either you are downsizing or want to join in the hustle and bustle of the city life, I suggest you to take up a one-year lease of an apartment and try it out. If you do not like it, the financial loss is minimal.
Most, if not all off-the-plan apartments are sold at inflated prices, especially those also market to overseas buyers. Who do you think pay for all the overseas marketing and promotion expenses, not to mention the sales representatives overseas want a cut as well.
I cannot be any more blunt than to say cut your losses sooner!
No matter whether you are buying or selling any property, and if you have doubt, do consult your qualified investment/financial advisor.
Thank you for reading.
