Looking to Buy Land and Build Investment House for Investment in Melbourne Western Area

bhunter101 on 22/01/2018 - 12:31
Last edited 22/01/2018 - 13:03 by 1 other user

Hi Guys/Girls,

I am looking at buying a lot which is titled or is about to title soon.
Plan is to start building in first half of 2018.

I was thinking to buy one in Wyndham Vale as it's a developing area. Obviously I want something cheap, but happy to spend more for some better areas (This can include future planning for that area, infrastructure, people, development growth etc.). I have heard very good about Mt. Atkinson.

Please recommend or input your opinions.

Home & Garden

Comments

  • [Deactivated] on 22/01/2018 - 12:38
    +1

    Dandenong

    • bhunter101 on 22/01/2018 - 12:44

      Any recommendations? Which estate?

  • stratbargain on 22/01/2018 - 12:40

    Budget?

    • bhunter101 on 22/01/2018 - 12:43

      Can be up to $300k
      I am after 250-350 m2 lot.

  • chumlee on 22/01/2018 - 12:52

    Look at Plumpton

    • bhunter101 on 22/01/2018 - 13:19

      Any estate recommendations?

  • dbui8743 on 22/01/2018 - 12:54

    Tarneit?

    • bhunter101 on 22/01/2018 - 13:19

      Any estate recommendations?

    • bhunter101 on 22/01/2018 - 13:19
      +1

      Don't you think Tarneit is Overpriced?

      • chumlee on 22/01/2018 - 13:23
        +1

        Should be a few houses in Tarneit going cheaper now courtesy of MTC gang. Minor repairs needed

      • Halo375 on 22/01/2018 - 13:47
        +3

        Everywhere is overpriced - you’re not going to pay what its worth, you’re going to pay whatever you have to to get your foot in the door.

  • [Deactivated] on 22/01/2018 - 13:11
    +4

    Toorak

    • bhunter101 on 22/01/2018 - 13:19
      +1

      Any estate recommendations?

      • steff on 22/01/2018 - 13:33

        you could get a car space for $300K in Toorak

        • Halo375 on 22/01/2018 - 13:45
          +1

          But only for an old mini…

  • JIMB0 on 22/01/2018 - 14:15

    Look at the area west of St.Kilda. If you can find any land for sale snap it up quick as land is rare out there.

  • [Deactivated] on 22/01/2018 - 14:23

    You said you were looking for an investment property. Why not buy an existing house rather than build one for investment/rental? If you're looking for an investment property in good/almost new condition, see if you can find developers who are refurbishing an existing complex like a block of flats. You'll start earning income much faster if you buy an existing dwelling rather than building one from scratch.

    • bhunter101 on 22/01/2018 - 14:30

      i do like your idea but i might even sell the brand new property straight away if i get a good price.

      • Peter Enis on 22/01/2018 - 14:44

        Don't forget Capital Gains Tax will eat up a chunk of your profit if you sell in the first year of ownership.

        • Euphemistic on 22/01/2018 - 16:39

          and after the first year, it'll still be half a chunk.

      • DiscoJango on 26/01/2018 - 12:08

        based on this comment i can tell you know minimal understanding of how buying and selling a property works.

  • tsunamisurfer on 22/01/2018 - 15:41

    Jason Genova lives in Dandenong.
    Chumlee lives in Plumpton.
    Dennis3107 lives in Tarneit.
    Tuzii lives in Toorak.

  • DiscoJango on 26/01/2018 - 12:07

    why "invest" in the outer suburbs??????

    "invest" closer to the cbd, somewhere with actual guaranteed growth.

    do you ever, ever think somewhere like balwyn, armadale or any inner eastern suburb would depreciate?

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