Thanks everyone. I think the logic of people buying earlier because of the FHB is true, and that when it stops (if it stops) the lower end of the market won’t have as much interest at least for a little while.
I think we decided to wait it out, we don’t NEED the FHB for deposit and don’t want to rush into it if prices will fall again shortly.

Cheers

Take care

Well basically just had my dreams crushed. Shire says im allowed to only have a single dwelling on it, And the minimum size block is 5Acreas.
My 1 acre is attatched to another 9acreas which belong to my old man and siblings.

On the council rules it says despite clause 11.1 (Stating lot size minumum of 5acreas) zone RL(rural living) may be -with consent- subdivided as a ESTATE DEVELOPMENT.

What is an estate development?

It also looks like i cant even rent out a house if i put it on my 1acrea, doesn’t sound right to me.

Does anyone know anything in detail regarding Darwin zoning- In particular RL zone.
Thanks

SHales

Yeah its still all acreage housing in humpty doo, but i think times will be starting to change soon. There are a lot of places on 2.5acres or a few little places all sharing a block. I will definatley have to check the zoning before making a decision ill get onto that very soon.
Thanks

Playa
Yeah im starting to think the best decision is probably put it in my name or a trust, Ill look into how that works. My old man wants to have it in my name. Its me who doesnt want to lose it, because i have a connection to it growing up on it and stuff. But thats where the risk comes into it, we all need to take a risk here and there right>?
My target audience i would have to say would be either a couple or single mums with kids- These kind of people i think may find it hard to find a place to rent but Ill have to do a lot of research. Where do i start?

Thanks Vicky

Thanks Playa,

Well for the knocked up little house i’ll probbaly get something like $200 a week rent on 1 acre of land. I thought that would probably be the best idea and put it in the corner of the block till i get enough money to put a kit on the house than use the existing little place as a granny flat.

The only concern is its a family block and if i took out a big mortgage and things went out of control (i.e economic crisis) i dont want to lose it all in a reposession. At the same time, I understand to get anywhere is this game you need to be willing to take risks right.

Anyone have any ideas what to do.

Thanks