No1 In Off The Plan Apartments For Sale Melbourne
When deciding to buy an investment property, one option that investors have is to purchase an off the plan property. For over 10 years Home Port Property has provided opportunities for its clients to purchase in a range of quality off the plan apartments in Melbourne.
Early Access to New Off Plan Apartments In Melbourne:
Home Port has established a large network of developers and these developers have a proven track record of delivering well located, high quality apartment projects off plan which have had a good mix of both owner occupiers and renters.
In addition, Home Port has a large data base of qualified investors and developers are often keen to access these investors in order to get some pre-sales of their properties prior to them releasing them to the public.
As such, Home Port investors can often gain extremely early, pre-public release access to some of Melbourne’s premium off the plan apartments.
Off the plan apartments in Melbourne which Home Port has previously offered it’s investors, at a very early pre-public release stage have included:
- The Guilfoyle in Southbank
- The ILK in South Yarra
- Trilogi apartments in Prahran
- Lilli apartments in South Yarra
- Rosso apartments in Carlton
- George apartments in North Melbourne
- Mint apartments in St Kilda
- CVU apartments in Port Melbourne
- Ivy apartments in St Kilda
- Wrap apartments in Southbank
- Freshwater Place apartments in Southbank
- Tribecca apartments in East Melbourne
- Sinclair apartments in East Melbourne
For these apartment projects and many others, we gained very early pre-public release access for our investors, so they could purchase at the original prices, prior to any price increases and they also had the opportunity to pick the premium apartments available from throughout each project.
Additionally, since Home Port markets primarily to investors, in many cases our investors were able to benefit from the exclusive benefits that we were able to negotiate direct with the vendor on our investors behalf. These included rental guarantees at market rate for the first 3 months and up to one year in some cases. Plus the addition of window furnishings, providing a cost saving for our investors and ensuring that the apartment is fully rental ready on completion. Plus the addition of a depreciation schedules, free of charge, which investors require in order to claim all of their tax deductions.
If you would like to get in early and access our next pre-public release off the plan apartments in Melbourne then be sure to register your details as a Home Port Priority Investor and you will receive all the details on our latest projects.
Also be sure to check out our currently available off the plan apartments in Melbourne, you can check them out on our Off The Plan Apartments Melbourne page.
Tax Benefits when you buy an off the plan apartment in Melbourne:
When purchasing an off the plan apartment, you generally pay 10% at exchange of contracts and then you pay the remaining 90% when the project completes. So if the market is on the rise and you lock in at today’s price and then do not have to pay the full amount for typically 2 to 3 years, then you may in fact make a capital gain by the time you need to settle and pay the full amount.
Once the property is complete, you will generally receive a rent that is above the market average as tenants are usually willing to pay a premium to live in a new, modern apartment, with good facilities.
But in addition to all of this, as you have purchased a brand new property, you can maximise your tax deductions. As well as the normal deductions, which cover most expenses that relate to your property, such as management fees, council rates, interest on your loan etc, you can also claim depreciation and being a new property you can claim the maximum depreciation. The building cost usually depreciates at 2.5%, so you have this deduction for 40 years and you also have the fixtures and fittings, which depreciate largely over the first 10 years. This is ideal as generally your rent will increase each year, so by the time some of your larger depreciation items are used up, then the higher rent is starting to take over and as such, with the depreciation and the rent it helps keep your out of pocket expenses to a minimum.