I was recently going to biuld on a new block but thought that it was noy cost effective to make money. Cost Land $175000,House$125000,GST 30000. all up cost $330,000. Then minus capital gains if it sold for $380,000 I’m not exactly sure on CT but I did not think it would be cost effective.How ever people seem to be making money just purchasing land. Can any one verify this and if so please tell me where to get some of this land.
Lifestyle wrote:
‘How ever people seem to be making money just purchasing land’
Not possible unless they can get someone to rent the land from them, eg agist horses or farmers wanting extra land for more crops.
However if you’re willing to bet that prices will go up, or you are able to get the land rezones, you might make money when you sell.
‘Can anyone verify this’
No doubt there are people who’ve made money from land. But they’re unlikely to be your average ‘mum and dad’ investor as you need lots of money to afford the loan payments as there’s no tenant to pay them for you!
‘please tell me where to get some of this land.’
Try a real estate agent.
But before doing so, do yourself a favour, do lots of reasearch, buy property books by McKnight, Bell, Lomas, Wakelin & Somers, follow up Sooshie’s links and search for previous newcomer questions.
Strategies vary, but you could do worse than buying established houses/units that are well-located, attractive to tenants but not too expensive.
Peter
The topic ‘Land V Houses/unit’s’ is closed to new replies.
