Infinite Wealth, house and land ?

Discussion in 'Property Experts' started by TheNewGuy, 4th Mar, 2019.

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  1. craigc

    craigc Well-Known Member

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    Also suggest the property couch podcast for great advice especially if you start from the starting episodes. Covers all the basics above without the hard sell of Michael Yardley.
     
    craigc, 11th Mar, 2019
    #41
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  2. Scott Townsend

    Scott Townsend Well-Known Member

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    @The New guy Do you mind me asking which estate they were offering you in Alkimos as there are a few up there. Just curious as I am a building consultant and would be interested to get a gauge on how their package price is broken down house & land wise. For that price I assume it’s one of the beach side estates.

    At the moment in Alkimos you can almost guarantee the bank will down value the property before approving your loan. We are finding first home buyers even building a cheap 4x2 are getting knocked back on their loans because the valuers are comparing the new build price with recent existing property sales and what people are selling 3-7 year old properties for is tens of thousands cheaper than the new build.

    Cheers
     
    Last edited: 24th Mar, 2019
    Scott Townsend, 24th Mar, 2019
    #42
  3. TheNewGuy

    TheNewGuy Member

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    Hey mate sorry I missed this. The estate was alkimos vista which isn’t the beach side estate. The land was valued at $197k and cost to build the house $222k. With the house that is a fixed price from start to key turn.
     
    TheNewGuy, 2nd Apr, 2019
    #43
  4. Scott Townsend

    Scott Townsend Well-Known Member

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    Lordy that is inflated! Today you will pay between $187k-$192k for 300m2. In saying that - the price may have been $197k a couple months back I’m not sure? But that essentially shows what the suburb is doing if developers continue to slash land price.

    $222k for the home turn key? I would say they would have to have about a $15-$20k fee loaded in there. For a new built, medium spec investment property you would be looking at approx $190k turn key with siteworks (spec dependant). Add perhaps $10k ish for rear landscaping as the front is done by developer. Could go and see almost any builder yourself and save $20k.
     
    Scott Townsend, 3rd Apr, 2019
    #44
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  5. Mike Valetta

    Mike Valetta Member

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    You would be better off buying some magic beans at the market.

    Alkimos FFS. You need a passport to get there.
     
    Mike Valetta, 4th May, 2019
    #45
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  6. David Newman

    David Newman New Member

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    Hi Jess unfortunately I can’t see link.
     
    Last edited by a moderator: 31st Oct, 2023
    David Newman, 31st Oct, 2023
    #46
  7. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Hi David, the thread is quite old so I'm not sure anymore what the link would have been.
     
    Jess Peletier, 31st Oct, 2023
    #47
  8. Brady

    Brady Well-Known Member

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    Looking back at this property... was listed $415k negotiable, my guess they would have taken $400k
    Ended up being rented out 4 months later.
    Sold March 2021 for $440k
    RP Data estimate now $540k
     
    Brady, 31st Oct, 2023
    #48
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