Hi all, I'm not an investor but I'm trying to get on the property ladder at 40 and it's proving difficult. I recently moved my family to Regional Vic from Melbourne in hopes of buying a home soon and the prices have now almost doubled. So I'm thinking of buying a plot of land on the GOR somewhere. I have found a few place that I could afford to buy a plot of land now. I'm thinking these will go up in value as they are by the ocean, there is industry there and moving to regional now is obviously now more accessible due to working from home. I'm thinking of just holding the land, not building on it, esp for the next few years and then using the capital to buy my own home. Does this sound like a good plan or am I being totally nieve? What should I be considering?
Because I only have enough deposit for the land which is around 200k maybe less. Everything is going up faster than I can save so I was hoping that investment in land will do the same. Better to be in land than in the bank.??
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