Hi
As always looking for the help on buying piece of land as an investment. Want to find out what are the pros and cons of it. in terms of CGT, building house on it etc i am looking to buy in vic or brisbane.
Please help thanks in advance.
Bharat.
Why do you want to buy it?
What goals are you trying to achieve by doing so?
hi Simon,
i am looking to make this move so that if i can find something which can leave some money in a year or 2 years time. So that then i can persue my goal of IP with some cash for deposit and may be even help in repayments.
Regards,
Bharat.
Hi Pitialv, the biggest con I see with buying land is that land by itself does not provide income, a house on a good block of land that you could develop further would have at least the rent coming in helping you with the repayments. It is also harder to borrow money just to buy a block of land. In regards to CGT, etc, you haven’t shared essential parts of your story for us to be able to comment, I suggest you check this with your accountant. Like Robert Kiyosaki says, the most expensive piece of advice is free advice. Your investment strategy is based solely on the fact that it would go up in value, risky. Having an exit strategy is always a good thing, for example if you buy a house with land that you can develop, you can always sub-divide and sell part of it , etc.
Happy investing
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