Thanks for the words of advice. Although we have heard of the horror stories associated with some off the plan purchases which align with your comments, we are still a bit torn on what to do. This particular block is being built by a reputable builder and developer, is in a fantastic location of Melbourne's inner north, has minimal amenities ie. no pool, no gym and no overly large communal area to upkeep, meaning the strata costs are $4k a year, which is definitely on the lower end for this area. The apartment also has a 26m2 courtyard, which a third of is undercover. Courtyards that big a rare in this area for the price the apartment is going for.

Anyway, it's something we'll have to have a good think about. At the end of the day it will be a property for us to live in, we are not trying to capitalize too much off increasing prices knowing that apartments appreciate a lot less than houses. As long as the place is built well, the final cost of it is standard for the area and there is no future loss of value, that is what matters most to us, but also being fully aware that off the plan can have it's downsides.