All Topics / General Property / Is anyone currently involved in the ACT land rent scheme?

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  • Profile photo of Angel 13Angel 13
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    @angel-13
    Join Date: 2011
    Post Count: 20
    August 27, 2012 - 11:35 am

    Hi is there anyone on the forum who is renting land in Canberra through the ACT land rent scheme? If you I'd love to chat to you.

    Angel

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    August 27, 2012 - 12:46 pm

    Hi Angel

    At last look I think there's only one lender that will provide finance for it which doesn't evoke a lot of confidence in the scheme.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of M.InvestigatorM.Investigator
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    @m.investigator
    Join Date: 2012
    Post Count: 134
    August 27, 2012 - 1:01 pm

    hmm I'm not personally involved in the ACT land rent scheme. Actually, I wasn't aware of it before you mentioned it.

    I did a search of it on Google, and fo others who want to learn more about the ACT land rent scheme, check out the ACT Govt Revenue Office page about the scheme

    Profile photo of Angel 13Angel 13
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    @angel-13
    Join Date: 2011
    Post Count: 20
    August 27, 2012 - 1:14 pm

    Yeah I was wondering about the finance side of it too and I wanted chat to those who are doing it first hand.

    I did some research last week to find out the nuts and bolts about it.  M.Investigator the ACT Revenue Office page only tells you part of the story. There are actually 3 ACT govt. agencies involve and I called and spoke to two of them to understand the end to end picture. So seeing that there isn't a lot of info on the web  I have put together an unofficial FAQ.

    You can check it out here if you want to know more http://www.hammerandheels.net/act-land-rent-scheme-how-it-works/

    They say 1200 blocks have been rented so far under this scheme so there are people in Canberra doing it. If you are one of those people I would love to talk to you.

    Angel

    Profile photo of ChrisA1ChrisA1
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    @chrisa1
    Join Date: 2011
    Post Count: 172
    September 26, 2012 - 10:56 am

    I heard through the grapevine that some developers had rented land to build project homes to sell on. Apparently there are information sessions at CIT (Bruce campus??) about it. From my very vague memory, there is an option down the track to buy out the land where you would own the land and house outright (I'm sure the ACT gov't wouldn't want to hold onto these blocks of land forever…). I may be quite off the track here, but it didn't sound as ludicrous as I initially thought, if I was looking to build a house. 

    ChrisA1

    Persistence is 'to keep on keeping on, no matter how hard the going may be'

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