I'm a first time investor with little knowledge about the market and PI, but i'm working on it and doing a lot of research into potential for growth.
I've been advised by many to steer clear of House and Land packages, as i'd be forking out the repayments for the duration of the period to which i cannot rent it out (as it's being built). Is this true? Is there anyway to defer the repayments so that they start once the property is built and ready to be rented out?
Also i understand land size is very important, a lot of the time more important than the structure, and i'm concerned that a lot of house and land packages tend to be built on 350-450m2 land masses, which isn't really worth the 6-700k price tag.
Appreciate the advice in advance.
I've been advised by many to steer clear of House and Land packages, as i'd be forking out the repayments for the duration of the period to which i cannot rent it out (as it's being built). Is this true? Is there anyway to defer the repayments so that they start once the property is built and ready to be rented out?
Also i understand land size is very important, a lot of the time more important than the structure, and i'm concerned that a lot of house and land packages tend to be built on 350-450m2 land masses, which isn't really worth the 6-700k price tag.
Appreciate the advice in advance.