VIC new land estates in melbourne

For me it's all about the end product. What the land and build has cost vs what comparable products are selling for.

I've got a lot settling tomorrow, total cost of project will be 332k. Bank val came in at 380k. Comparable products are selling in the low 400's.

I signed up for the land 14 months ago, CG can definitely be had in these areas...but DD still needs to be done. Picking the right area, estate, builder and product is the backbone of the strategy.

 

Too true. You did well if you got Bank to accept higher value than contract.

Settling some land shortly SE $199k bought 12 months ago build contract $215. 4/2/2 will be worth $525k on completion. Have just bought 1 in West $163k will title mid next year. Will build $152k. 3/2/1 will prob be worth $380k on completion.

 

Yeah I was expecting contract value as the bank val, but asked if they would do val on completion. Surprisingly they did. Ended up putting 35k less deposit in than originally allowed for.

I think I know where you're block is But 152k build is dirt cheap for anything like a 15-16sq home. Is this a builder you have a good relationship with?
My preferred builder only builds in the south east unfortunately.

 

That's a turnkey 14.77 square home base inclusions plus a/c plus stone to kitchen. Quite efficient floor plan no wastage in halls due to shorter wider Lot than an 8.5x28 3/2/1.

Builder builds everywhere but not retail only wholesale for his investor sales. Would prob only be $5k more for another builder.

 

Those are fantastic numbers!

The 163k in the west - how big is that piece of land? Also, 152k build is a great price on a 3/2/1. Any chance I could get the builders contact details via pm?

Thanks!

 

$163k was for a 10.5x21m block.

Sorry can't help on the builder they don't do retail clients. Only do there own stuff (400+ homes a year) and a few people like me they know and trust.

 

Oh ok fair enough. What would other builders charge for a 3/2/1 build?

 

I answered this a few posts up. Prob $5k or so more. There is not much difference I don't think, but then again I'm not comparing regularly. I still build some stuff with Simonds as I think they are pretty good value for money. The finish is a little bit better than the other builder I use too.

 

Which is best place in vic to buy a smaller block and build less than $350k

 

This may sound like a stupid question, but how much deposit do you generally put down until titles? from memory when we built years ago it was 5%. Is that right or do you only put down a few k deposit until titles? I wouldn't mind doing this if titles were 2018.. easy growth for practically no money

 

That's correct, you only put down the initial deposit until it titles. Money for jam in a rising market.

Most estates I've bought into have been asking for 5%.
Lately though, I'm seeing more asking for 10%

Titles on most outer Melb estates are well into 2018.

 

Rockbank IMO

 

Ditto

 

Probably easier to search or wait for deals from volume builders during end of year or financial year etc.

it is interesting to see how much prices has grown from when I build my places 3 years ago in pt cook. was looking through an old brochure while cleaning up a room (this was during the times when they were no queues in the H&L showrooms with minimal ppl walking ard and lining up and you could bargain for bunnings vouchers. some ppl in Brisbane actually build GF for around that price back then. I remember dennis family homes were giving 99K or 110K back then as well.

 

I got an email from Porter Davis today (I'm on their mailing list for the ex display furniture sales). They are doing 3x2x1s in Clyde North from 388k packaged.

 

It's negotiable, but most of the popular estates will want 10% down at signing. No finance clause.

 

Came across this bunch of builders - Australian Building Company

Just wondering whether anyone has had any experience building with them? They reckon they can build a 3/2/1 for about 150k..

 

I have 200k lying idle.
I want to use it to buy land but would like to build on it only after 2 years to take advantage of the First Home savings scheme

So a land settlement which occurs 1.5 to 2 years down the road is ideal for me
If I pay entire price right away can I get a better price as compared to those who would pay 2 years later.
When does the stamp duty become payable ? On contract exchange or actual land settlement

Any suggestions where I can buy the land ?
It's to build a house to live in and not for investment
I work in Hawthorn and would prefer Eastern suburbs but don't mind going elsewhere also if suggested by members.

A 400 SQM with about 15M frontage would be what I would be looking for with a price tags upto 300k
Commute to Hawthorn about an hour by train

Cheers

 

I'm pretty sure it's illegal to pay more than 10% deposit. The stamp duty is calculated when you sign the contract and you pay it when the land titles and settles. Note, as a first home owner you are eligible for stamp duty discounts, and after July it's going to be waived entirely. But only if you sign the land contract after July, and have a building contract. Your not a first home buyer just buying land.

Most of the land in the east is cranbourne and pakenham, and the price will be much closer to $300k than $200k.
Good hour in the train. I'd suggest taking a look and see if it's still something your interested in.

 

Housing site a sell-out - Star Weekly

3 bedroom townhouses next to point cook town centre sold for 538k , stage one sold out in 2 days gees I wonder how much nowadays to build new 3 bedroom house in point cook on 400sqm land?
I suppose you expect to pay premium for land/houses with walking distance to point cook town centre