Posts on Dec 2020

Pool and Spa Registration

From 1 December 2019, new laws come into effect in Victoria that require all owners of land where a swimming pool or spa is located to register the pool or spa with their local council.

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What are the risks of buying off plan?

Unfortunately, many contracts for the sale of off-the-plan properties contain dozens of special conditions in favour of the vendor which remove most of a purchaser’s rights provided for in the common form of contract or by Australian Consumer Laws.  These special conditions will usually require the purchaser to reimburse the connection costs for electricity, NBN and water which can costs thousands of dollars, in addition to requiring the purchaser to use an embedded electricity network which will prevent you from connecting electricity through your own preferred supplier.

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Should you buy off plan?

Purchasing off the plan maybe the right decision for some people more than others. Certainly, the stamp duty incentives for investors were a big selling point, until they stopped in 2017, but the opportunity to claim depreciation of assets may still be incentive enough.

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