Try before you buy.

Peter Kelaher Director of Pk Property the Buyer agents says there might be a new way of trying out your dream home and location before you have to come up with the full purchase amount. Kelaher says he just purchased 76 Brighton street Freshwater for $2,050,000 for one of his Mosman clients that allows his client to live in there for two years at market rent, and in that period should they decide to buy the property they have first right of option to purchase it at the set and agreed price of $2,050,000, and should they decide not to in that 2 year period they will have to pay the vendor a penalty of approx. $20,000.

Kelaher says this the perfect case scenario for his client who has come from Mosman and is not real sure that the northern beaches will suit their family or lifestyle. It also hedges their bets both ways because if the market suddenly takes off in the next two years they are locked in at a low level price, and if the market takes a dive or they don't like where they are living ,they simply hand the keys back and buy or rent somewhere else.

There's nothing worse when a buyer purchases in an area they are not familiar in and decides to sell within that 2 year period as the out costs can be astronomical.

Stamp duty alone on this purchase of $2,050,000 is approx $100,000 plus moving costs and should the market go down you could be up for $250,000 in costs.