VIC Eynesbury Land Advice... all thing I found was 2 years back...

With all the recent things picking up and land releases... is it good idea to buy land in Eynesbury now? which will settle after 18 months?

Things I am considering
1) School opening in 2021
2) Homes at 1000 mark, when it will hit 1500 it will trigger construction of coles / woolies
3) Lot of Active areas and amenities in small areas proposed.
4) Mt Mary Road development is charted to start sooner (as I was told)

Please advise.

 

Is this to live in? If yes, then:

1. The school would be new with no reputation, obviously. Happy to send your kids to a brand new school about which you'd know nothing about?
2. Fair enough. But that project's going to take 1-2 years to complete.
3. I wouldn't bank on those proposed things, who knows when they'd get approval and stood up.
4. What's that dev going to do for the estate?

If to invest, a big no. It's too late IMO, unless you find a real bargain. Maybe you can pick up a block for cheap in say December or so this year, delay building for I dunno 6 months, then build and flog.

 

Well it is for IP - I may build or sell when titled with whatever i could run away with that time. Let's say I got a regular block facing right towards school at 650 per sqm about 150 meters from the st Arnaud and Eynesbury road crossing. Now it's only 5% deposit.

Title is in Dec 2021 or later as we know builders... lol

Still no?

 

So how much would the block be?
What are you thinking of putting on it, as in number of beds, living areas etc? 650sqm is a pretty decent block these days.
What do you expect the build to cost?

 

Apologies I think I conveyed it wrong.
Block is about 530ish with 14 meter front - which is hard to come by these days. most are in 446 ranges. The price is sqm which translates roughly to 350K + stamp when it gets titled.

I will be putting a 4 bedroom house with one or two decent size living areas (lounge / rumpus) with rent or sell purpose later, expecting it to cost about 300Kish when it comes to that.

 

Nah mate, totally not worth it. You've been warned.

Look for 20% fat minimum when doing a H&L, almost impossible to find these days, but keep an eye out. Some deals may roll around later this year.

 

I am a bit confused by the recent things picking up. Honestly I don`t see anything picking up in Melbourne. This is the time to buy distressed properties, don`t spend $650k on a new house in the middle of nowhere.

 

Sound advice.

 

Hello to those familiar with investing in Australia, especially in Eynesbury.

I've 2 questions:

1.Would it make sense to invest in land in Eynesbury at about $300,000?

2. After 4 years, I have the option to do one of the following below. Which is better and why?

• sell the land in the open market
• sell the land back to developer at 110%
• build a house (and sell)
• build a house (and rent)

More info can be found here.
Land for Sale | Eynesbury

Thanks in advance.

 

Fraught with risk.

Selling land only - you'd be paying instalments till you sell with no source of income from it. The money you may may make at the end of 4 years may or may not enough to get you a profit.

Back to dev - not sure if this is possible. They've been stamping out speculators like you.

Build and sell - Risky. You'd paying for the block till you find a buyer with no source of income till you sold it. This is assuming it grows over time.

Build and rent. Probably the better option out of all 4. But if the block's already $300k, you build on it for say $250k - $550k plus stamps - the rent's going to be about $400/week - you'd be very negative.

Profitable H&L deals are just about non-existent. You've been warned!

 

That is sound advice, thanks westie!

Is Point Cook any good

 

What part of it are you looking at?

 

H&L as an investor to rent.

Do the locals generally buy or rent houses in Melbourne?

 

H&L deals in Point Cook evaporated years ago. The newer areas are deep into the sprawling suburb, getting to the trains in the morning would make a grown man cry. Saltwater, Featherbrook and Upper PC are full of investment grade stock, with crap rent. I wouldn’t do it if I was you.

 

Enough said westie...

Not going to burn cash there.

By the way are you in real estate development?

 

Nope I am not.

 

That's unusually that you understand the property market that well, in fact better than some developers I've come across.

Where in Australia do you reckon has investment opportunities that provide safe, secure and sustainable rental?

 

Umm, the developers know what they’re doing. Spruiking their developments.

Australia’s yuuuge dude. Do your homework and come back when you have narrowed down.

 

dont even understand what safe secure and sustainable mean when it comes to investment opportunities?