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VIC Epping house and land ?

Discussion in 'Where to Buy' started by eyespy1, 13th Sep, 2015.

  1. eyespy1

    eyespy1 Member

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    Looking at investing in a house and land package in epping, north of melbourne. I currently have properties in sydney and want to diversify into vic. Prices are cheap compared to sydney, you can build a 3x2 for around 350k finished. Epping is 26 km from melbourne and has good transport and amenities. I've never bought h and l before but thought it would be a good way to learn the basics of development with minimal funds and risk.
    What is the rental situation like for this product in this area ? My main worry is capital growth as they will release more and more land but then. Melbourne is expected to grow a lot population wise. I guess I expect prices to go up because it is so cheap relative to sydney for a location not so far from melbourne city. Thoughts appreciated !
     
    MJS1034 likes this.
  2. Soul

    Soul Well-Known Member

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    I do not how much you lean about property development by buying a H& L package unless you become an owner builder.

    Lots of new properties in the area. Some parts have commission houses than others.
    Check for annual growth, rental yield and sales history for the last few years to get an idea whether the growth is sustainable.
     
  3. JK200SX

    JK200SX Well-Known Member

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    Probably best to focus on the area south of Findon Rd, or ideally south of McDonalds Rd.
     
  4. Coota9

    Coota9 Well-Known Member Premium Member

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    This area looks good too me.
    Close to schools,transport and shops
    image.jpg
     
  5. jpcashflow

    jpcashflow Well-Known Member Business Member

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    I would avoid buying H&L packages in the area.
    There is allot of empty land in the area and there are other areas such as Wallan that have allot of land available. You will find either no growth or in most cases negative growth due to an over supply!!.
    Cheap does not mean you are buying well!!
     
  6. JK200SX

    JK200SX Well-Known Member

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    Thats a big retirement village to the east of the reserve.
     
  7. The Y-man

    The Y-man Moderator Staff Member

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    @eyespy1

    Most of the H&L are happening in the northern part of Epping/Wollert - far from public transport and usually under major power transmission lines.

    As others have said, stay south of Findon.

    The Y-man
     
  8. eyespy1

    eyespy1 Member

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    Ok thanks for the info ....looks like I should stay with an established house than rather than h and l ? Was thinking of trying a new technique to maximise tax deductions from depreciation. Wondered whether renters and buyers would prefer a brand new place further from amenities vs an older place near amenities.
     
  9. The Y-man

    The Y-man Moderator Staff Member

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    1. Depreciation means just that - your property is depreciating. So the more your property depreciates, the more its value is technically going down.

    2. Brand new places north of FIndon struggle to sell - look at RE.com for Epping and sort from oldest to newest. Also have a look at how quickly established properties closer to the amenities stay on the market (hint - pretty quick at the moment).

    3. Don't just take it from the likes of me. Have a chat to the PM's in the area (NOT sales agents) - and ask the question of them. They get the commission on rent, so they'll tell you the ones they know will get more for them (and you).

    The Y-man
     
  10. The Y-man

    The Y-man Moderator Staff Member

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    Also beware the new subdivisions - they are small - about the same land content as some older units.

    The Y-man