Please Don’t Buy “Off the Plan” if you are not sure about following things.

Hello everyone, in this blog, I am trying to share my 4-5 years of experience as a mortgage broker that I saw what tough situation buyers have to go through because of not understanding & not taking seriously to “off the plan” projects.

There are many positive sides of “off the plan” projects too that we can’t ignore but we can’t overlook its other side too. I’ll try to make this as short as possible and if you have any questions, please feel free to contact me. Following are some of the important points to consider.

Laxmihomeloans Notice copy copy

Please don’t Buy “Off the Plan” if you are not sure about following things.

  • If you or your partner don’t have a secured job.

Let’s take an example, you bought one “off the plan” property which is going to settle after 1 year. If you lose your job at the time of loan submission, then we can’t get a loan from the bank.


  • If you are planning to have a baby.

For Example: If you have a baby, then only one person will be working. Which makes very hard to get a loan from the bank because there will one income source and two dependents…

  • If your credit history is not good.

I have seen people ignoring utility bills and getting into defaults. Please check your report before signing a contract.

  • If you can’t keep buffer of 2% – 5% of purchase price after depositing 10%

For Example: What if bank change policy and stop giving loan more than 90% including LMI for Land and House.


Note: Off-the-plans means signing a contract to buy a Land & House or an apartment that is yet to be built (not built). You can see the layout, floor plans, designs, and area but there is no physical property to see or inspect.

Disclaimer: please consider information as a general advice. Seek professional advice before making any financial decision.


के अस्ट्रेलियामा घर किन्ने सोच्दै हुनुहुन्छ? “लक्ष्मी” लाई सम्झनुहोस्

✔️First Home
✔Investment Property
✔Land & Construction
✔Off the plan.

☎️ 0433 589 626
🏢 Suite 1, Level 1, 251 Liverpool Rd
Ashfield 2131 NSW

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