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Always nice to disclose you have a personal interest in the development, so that people can take your comments in context. Are you in the same situation as the OP? Is this your first investment property that you're basing the rest of your investing on?

That explains it.

You might want to clarify that you're talking only units then. I'm talking about better uses of the OP's deposit. I specifically mentioned 'property' in my post. There are many threads on this forum where first time investors have been sucked in to buying OTP only to see their investing...

or c) house, with land that's good potential for CG and is slightly positive in 'holding' costs. Plenty of people on here do that today, just takes some research.

That's IF you get capital growth from this OTP purchase. Personally, I'd rather put that $53k to use now to find a better property.

Why don't you read up on these forums, take your 10% and go buy a better value, existing property soon, instead of waiting the 2+ years for this one to settle + get equity in it. I'm always suspicious of investment companies with these type of plans that only want you to buy NEW OTP...