Hi Waynel2,
My partner & I are also looking at building to live for 12months & sell for a profit.
Perhaps, instead of buying a block of land in a new Estate, you should look at blocks next to the estate area. This way, you may be able to negotiate a better price on your land.
In country ViC, new houses are going up all over the place, although with the same design, facade, block size, no landscape, etc.
There will soon be a demand for larger homes on larger blocks, with features like mature landscape and/ pool, etc.
My partner and I have looked at such costs:
land $60,000 + house $148,000 + 10% of house in case of construction emergencies, + $27,000 roughly landscaping and/or pool/entertaining area. =$250K totalHomes with a pool here are considered a luxury, and homes of the same living areas are selling for well over $390,000 = minimum profit of 100K after fees & C.G.T
However, we are looking at fast tracking so that we can build a series of units up North etc.
If there was no rush, keeping the property to lease would definately be beneficial to add to your portfolio and passive income.Good Luck Wayne,[biggrin]
Regards -Beth MacLeod
You must be logged in to reply to this topic. If you don't have an account, you can register here.
