Wanty to run this past you.
Paying of block of land owing 70,000. Probably can sell right now for 79,000. Can build house on it for 185,000.
I reckon I could sell whole parcel for 285,00 therefore making $30,000 profit.
Where can I confirm that a parcel like this would sell for $285,000 and confirm that my estimates and judgements are correct?
Hi Cyclist,
1. Try the web for properties for sale in the area of a similar nature to what you will build for their asking price.
2. Get estimates from a builder or project builder (this is probably the cheaper option)to build on your block
3. Don’t forget to add for the completion of the property – driveways, carpet, blinds, light fittings, landscaping etc etc etc
4. Ask a real estate agent in the area for an estimate on the sale price. I would go to them once you have chosen a house design so they know what it will be like completed.
5. Don’t forget your closing costs such as agent fees, solicitors fees etc
Then if there is still money in it, GOOD LUCK.
Courage is not acting without fear but acting despite your fear.
Thank you. Exactly what I was looking for. Thanks again for information.
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