Advice on buying a land in Kellyville

Hi Guys,
Can you guys please advice,whether to buy a lot now in Kellyville and build it after 6 months?
I researched the suburb and I can see many lots are subdivided and sold as house and land packages. Instead I thought buy a land for that amount and build a house 6 months later.

Please let me know your thoughts on that.

 

Because you think the land will be more expensive in 6 months?

 

The real question is why do you want to do this?
What is the perceived benefit of waiting 6 months to build?

 

Yes. Very few lots available and we like the location.

Reason for waiting for 6 months to build - Getting more depsoit to build a home we like.

 

The reasons it would be a bad decision include:
Land prices may fall further.
Hard to see how supply is restricted in Kellyville, unless you have your heart set on a very specific part of it.
Generally, maxing out to that extent that 6 months of savings makes a material difference to the build. Even after paying interest for 6 months on the land.

But you've assumed away the price and supply arguments, and the build thing is personal, so not sure what thoughts you are after.

 

In the past 3 weeks enquiries for land and new builds in the area out to Box Hill have exploded. My son (who works for a major home builder) is also a keen buyer and now he is worried land will rise as its being snapped up fast. Faster than anytime in the past 18mths. Buyers are moving fast.

 

Interesting, are they selling of ad hoise and land package?

Small lots ?

 

This area has no scarcity. The demand supply profile doesn't suggest any near term growth. Buy if you like the area and wish to live there. For short term gains, I wouldn't bother with this area.

 

Size varies with the subdivision and budget. One side of Windsor road is Blacktown council and other side is Hills. Homeworld at Marsden Park has all the sales offices etc for enquiries incl land and house and many combined packages. Call Burbank Homes and speak to Adam and tell him I said to be nice.

 

They said that about Baulkham Hills, Bella Vista, castle Hill, Glenhaven, kellyville, Beaumont Hills, Nth kellyville and Rouse Hill. Then built a train. Soon a hospital, a new town centre etc. Scarcity doesnt apply to any new home estate initially, until the land is sold. The sold signs keep going up and prices havent fallen.

 

I'm aware of the area., i live near Box Hill and grew up in Marsden Park when there were still cows roaming around.

Just interesting to see land still selling like hot cakes.

 

True, but depends on the time frame I suppose. You condensed many many years into a few bullet points.