VIC Any house and land deals for under 100k within 1 hour from Melbourne

I know it may be seen as a challenge or impossible, But does anyone know of a house and land deal in Melbourne or Geelong up to 100k?

 

Sure, I only buy those deals.

 

Do you mean an actual plot of land AND a house? Doubt you'd find even the land for that, or you'd be killed in the rush. You could possibly do it with an existing house in horsham.

 

An hour flight maybe good luck

 

Good luck finding even just land within say 100km of Melbourne for under 100k. Maybe 200km east of Melbourne you might find old unrenovated shacks on small plots for the mid 150's?

 

You'd be lucky to get a house and land within one hour (in traffic) of the Sydney CBD for $1,000,000!

 

Maybe 200km south of Melbourne.

 

I've just done a quick search, and you can get house on land for 100k, 3 hours west of Geelong.

 

When you find it let me know, ill buy 10 of em

 

This one come close..

9 Wattle Ave, Wendouree, Vic 3355 - Property Details

About 120km from Melbourne CBD. And it has added bonus in that land was huge at 800sqm, subdividable though not many might do it here.

 

It would be challenging to find a worse location in Ballarat.

You could argue that area has tripled in value over the last 15 years, in 2002 houses were $40k in the rough part of Wendouree West, but almost any property in Melbourne has more than tripled in value in that time. You wouldn't have the ownership problems and today you'd have far superior cash flow buying almost anywhere else.

Unlikely to have subdivision potential either. 800sqm block are the norm, with plenty of land available for expansion. Any building on there will result in massive over capitalisation simply because the cost of building would be more than the value of the end result given the location.

To be fair though, if you're looking for something around $100k within 100km of the GPO, that's the place to look. Doesn't make it a good investment though.


The problem with a $100k budget these days is $100k will build a very nice granny flat. $100k isn't enough to get a decent house, let along the land in a reasonable location to put it on.