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This is the BIG question - no body knows. This is a MAJOR risk in buying OTP. You agree to buy for $690K now but when the bank does a valuation in 2 year's time it may only come up at $650K if the market moves down a little by then. Then you are faced with coming up with more of your own cash to...

You can pick up a 2brm unit in the Hornsby and surrounding areas for $550-650K on the second-hand market. This means buying OTP at $690K you'd be paying around 10% minimum as a premium for buying brand new & shiny. If it is for your PPOR for the next 10-15yrs - fine - buy what you like...