VIC Invest in Victoria

Looking for first investment property in Victoria - what areas you would suggest? I am looking for land( from estate) and later build and sale it… what are thoughts on that strategy? Or it’s better to bank land (without estate) areas like beveridge may be?
Thanks in advance

 

What do people think about land in Hamilton? 196 LEURA LANE, Hamilton, Vic 3300
https://www.realestate.com.au/property-residential+land-vic-hamilton-203144286

 

I bought a block of land off the plan back in 2017, when the market was rising. Titled in 2019, when market slowed down. Finally sold it this year.
The interest i paid and other expenses, and gst might be payable, I regret buying land. I would better of buying existing house that gives rental income. So when the market is bad, I can just keep it. Lucky I managed to pay the interest and mortgage repayments for those 2 years, although it was dragging my cashflow a lot

 

i just bought in hamilton, its really booming!!!! and excellent value!!!!

i just bought 4 months ago for 215k and got revaled the other day at 300k i completed laughed!!! right time right place i guess....

 

You'd want to talk to agents as to how easy it is to rent a block of land for agistment. What kind of return you'd get from it

If you had dreams of subdivision etc then you better be planning for 50+ years away.

Hamilton to this day is still heavily dependent on the wool price etc.

 

Thank you for your response. What do you plan to do with land? Sell it or build it? I was looking at some land options and If purchased from estate you must build in certain time..
thanks

 

That’s a good point, didn’t think about that. Thank you

 

mine is a house weatherboard on 900sqm. reno project. havent started yet as tennants are in and are happy with paying the rent so i'll leave it til im ready or when they move out and do the major repairs roof leaks etc then move down for a year (live and reno) then re-rent out.