VIC Good Estate Developers in Tarneit -Melbourne

Hi there

Interested in Buying a Plot of land in Tarneit for investment purposes which will be delivered about 2 years down the line

Can the members recommend any good Estate developer who is developing in a good area

Looking for a plot size of 600 SQM

Dont mind paying a premium for superior location and reputed Estate developer

Cheers

 

You're all over the place with your 'investments'!

Buying a block of land in Tarneit that titles in 2 years is fraught with risk. The market's already turning and 2 years down your block may be worth less than it's now. I'd not do it. If you insist, Central Equity are good.

 

@James Baker weren't you looking in reservoir, Lalor and Thomastown and then in the Balwyn school zone or something or in sunshine some where?

 

Reservoir, Thomastown , Sunshine went out of my budget
Lalor I decided against
Balwyn school zone was certainly not for me but for my friend .
( Can’t afford Reservoir, where will I get 2M for Balwyn)

Cheers

 

In case the market turns down , can the developer force me to buy it , or I can walk away with just forfeiting my booking payment ?

What does the law say in such a case ?

Cheers

 

It'll be what the contract says, if you sign up, make sure you read the fine print.

 

Any thoughts on why Laverton is still so cheap compared to the surrounding suburbs ?

Any particular drawbacks in Laverton for this discount ?

Cheers

 

What makes you think Lavo is cheap? It's lower socio-economic compared to its surrounds (PC/WL/AM etc), it doesn't have a shopping center (gotta go to AM or the dodgy IGA near Aircraft) and it border Lavo North which is full-on industrial. Traffic is nightmarish near the train station and around the Old Geelong Rd/Fitzgerald Rd areas.

It's also grown considerably in the past 2 years or so. I'm still kicking myself for not pulling the trigger on a 770sqm corner block 300m from the train station in 2015 for $340k.

 

u can get villas in Balwyn for 800K - reservoir - depends where (merrilands estate - Mahoney rd - they're really cheap there - but you can her buzzing sounds from the high voltage power towers . Sunshine has come down a bit looking at the auctions coming. Lalor is moving atm to be honest - after yesterday auction Asian buyers coming in

 

Hi @James Baker

Out of interest what are you wanting your (proposed) investment to do for you? Live in? Rent out? On-sell?

 

It’s for living in unless I find that I am making a handsome profit, in that case I can sell that off and buy another plot of land , again 2 years away from title

Cheers

 

Family on the way, so near High tension towers and cables are ruled out

Cheers

 

OK so if you plan to live in the property, it is important to understand that with new estates, you will not get a preview into who your neighbours might be before it settles. Nor will you get a preview into the percentage split between owner occupied and rental properties. If this is a problem for you then a house and land package arrangement (or buying land in a new estate) is probably not for you.

 

Right now I am not too fussy on that

But I am only looking for a land package not a house and land package

Cheers

 

Whilst this might be true (that you are just keen on buying land) there are often covenants on the land requiring you to build on it within a certain timeframe. So you might struggle to just land bank in a new estate.

 

I don’t have the money to land bank

It’s just that I would rather get it built directly by subdividing the subcontracts amongst major components and save money
I know it will be hard and will require lot of juggling, but would like to give it a try

It also gives me the inside view of the construction industry in case I want to Go the development route in future

Cheers

 

Not much to sub divide though maybe landscaping, blinds, extra fit outs or selection of appliances, driveway concreting, fencing etc though u could attempt to be an owner builder

The builder who needs to be on the building permit before u start anything would be using his own trades unless u got a mate u can put on just for compliance and paperwork

 

Unlikely you'll be able to subdivide the land. There'll almost certainly be a covenant stopping you. I don't think you meant you say you plan to subdivide the land but seeing as the word was there I thought I would mention it anyway.

Can't comment on whether you'll save money by hiring individual tradies, but are you talking about getting an owner builders license?

 

I remember reading in the forum that you can divide the major items amongst specialised contractors and that’s where the small developers really save money

earthworks, concreting , roof and walls
Doors and window
Plumbing
Electricals

Cheers

 

I am not subdividing this plot of land
For that I would be buying other plots in future, if I can successfully build my own house at a reasonable cost

As the land title is still at least 2 years away ,I have not gone much into the nitty gritty of how the process works

If at all feasible, then I would like to have a go at it as my long term plan is to develop small plots with 2 townhouses and sell them after completion

My salary will not go up after a few years as I would have no upward career path, and this type of development is only what I can do to augment my income substantially

Cheers