Browse Forums Real Estate 1 Jun 15, 2010 2:55 pm We are in the very early stages of purchasing a block of land for investment. The plan is to eventually build on it in the next few years, or sell for profit. So we need to buy in an area or estate where there are no time restrictions on when it needs to be built on, or more than 12 mths at least. Our budget is around $200-$250k so we are looking at the areas in the outer suburbs of Melbourne. We live in the outer south east so it would be handy to buy something in that area or heading our towards Pakenham to Drouin which will make things easier when over-seeing the building of the house. But I am also open to suggestions of other hotspot areas around Melbourne that would be worth looking at? Are Mernda/Doreen/Laurimar etc out of our price range now? and do those estates have really strict covenants? Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 2Jun 15, 2010 4:19 pm Found your thread Try this new estate in Mernda (currently just paddocks) http://www.fairviewmernda.com.au/press.html They are smaller blocks, so would be within your budget. Re: Melbourne hotspots for new estates/land purchase? 3Jun 15, 2010 5:06 pm Be aware that many estates require you to commence building within 12 months of settlement. Also virtually none of them allow you to sell the land on. If you do you must sell the land back to the developer. Make sure you read through the contracts. Re: Melbourne hotspots for new estates/land purchase? 4Jun 15, 2010 9:10 pm Thanks Erin, I can't believe the price of land these days Eve - Yep will definitely check the terms carefully. Our existing block was a resale one so I know it can be done, but a lot of estate are getting quite tough. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 5Jun 15, 2010 9:18 pm Whats the estate between WoodLand Waters and MV - goes all the way to BI Rd and has an entrance Thats def in your price range and has no time limit to build Custom European Cabinets - Melbourne Kitchen Specialist PM for business details as website currently being updated! Our Crazy Owner Builder Journey! Re: Melbourne hotspots for new estates/land purchase? 6Jun 15, 2010 9:29 pm Bam Whats the estate between WoodLand Waters and MV - goes all the way to BI Rd and has an entrance Thats def in your price range and has no time limit to build Re: Melbourne hotspots for new estates/land purchase? 7Jun 15, 2010 9:32 pm Yes, thats it! Thanks Erin Custom European Cabinets - Melbourne Kitchen Specialist PM for business details as website currently being updated! Our Crazy Owner Builder Journey! Re: Melbourne hotspots for new estates/land purchase? 8Jun 15, 2010 10:08 pm Aaron & Erin Bam Whats the estate between WoodLand Waters and MV - goes all the way to BI Rd and has an entrance Thats def in your price range and has no time limit to build That looks nice, another one to add to the list. Thanks I just found a beaut flat block of land over 1/4 acre in Pakenham, established estate, fully fenced, under budget and no time limit. Hmmm... very tempting Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 9Jun 18, 2010 4:54 pm Forget Melbourne, come up here to Echuca/Moama, the blocks are bigger and you will have money left from your budget. http://agents.realestate.com.au/cgi-bin ... t=35&t=rla Re: Melbourne hotspots for new estates/land purchase? 10Jun 18, 2010 7:02 pm fairy blue Forget Melbourne, come up here to Echuca/Moama, the blocks are bigger and you will have money left from your budget. http://agents.realestate.com.au/cgi-bin ... t=35&t=rla I think when it comes around to block no #2 and #3 we will go further afield. But keeping it close to home for now so we can keep an eye on it Well, the budget just dropped a bit down to $185k as we had our property valued and it came in slightly less that we had hoped (doesn't it always ). Looks like we will be looking out around Pakenham and Drouin to start with. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 11Jun 18, 2010 8:04 pm Good luck with it. The prices in Melbourne scare me! It's hard to comprehend, I checked out the price of that place posted by kek. Amazing! Re: Melbourne hotspots for new estates/land purchase? 12Jun 22, 2010 10:49 am Renaissance Rise has a time limit. They told me they could give me 2 years if I had a good reason, otherwise they want 12 months. I've seen blocks there for resale. We bought there, our block was $150k after the $3k early settlement bonus, well within your budget. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Melbourne hotspots for new estates/land purchase? 13Jun 22, 2010 11:07 am btherl Renaissance Rise has a time limit. They told me they could give me 2 years if I had a good reason, otherwise they want 12 months. I've seen blocks there for resale. We bought there, our block was $150k after the $3k early settlement bonus, well within your budget. Thanks We have bought our block now. It's just under 1500m out at Drouin for $139k. Doesn't settle until later in the year which suited us. No building timeframe at all and resale isn't a problem either. Not sure how long we will keep it, most likely until all the stages are finshed, they are approx halfway through the stages at the moment. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 14Jun 22, 2010 5:01 pm Congratulations Hels. Sounds like a good buy, nice big block. Re: Melbourne hotspots for new estates/land purchase? 15Jun 22, 2010 6:25 pm Thanks Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 16Jun 26, 2010 12:52 pm I have 4 new stages in Doreen/Mernda in the next 4 weeks. Stage 6 The Ridge will open next week. Great spot near parkland and close to town centre. A new stage in Mitchells Run in 2-4 weeks time. The last stage sold out in under 2 weeks. A new estate opposite Ivanhoe Grammer, which will be smaller lots 350m2 to 500m2. An also a new Mernda Boutique estate. PM me you email if you want me to let you know when they are released for sale. Moved in December 2010 Re: Melbourne hotspots for new estates/land purchase? 17Jun 29, 2010 10:48 pm where did you buy in Drouin? I live in Drouin and have found there is a lot of potential in this small town, only an hour to the city, great schools and is growing very fast due to the Pakenham By Pass.. Re: Melbourne hotspots for new estates/land purchase? 18Jul 06, 2010 1:29 pm frigga 40 where did you buy in Drouin? I live in Drouin and have found there is a lot of potential in this small town, only an hour to the city, great schools and is growing very fast due to the Pakenham By Pass.. Crystal Waters Estate, it's really nice in there. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Melbourne hotspots for new estates/land purchase? 19Sep 12, 2010 5:30 pm Hey All, I am a newbie... My partner and I are currently looking for Land in Doreen... closer to Yarrambat... we are very interested in The Promenade but i feel we may have missed the boat.... does anyone know of any land sales there?? or something similar... we are looking for 600-700 m2.... please PM me to let me know. thanks. aimie Re: Melbourne hotspots for new estates/land purchase? 20Sep 13, 2010 11:12 am aimie Hey All, I am a newbie... My partner and I are currently looking for Land in Doreen... closer to Yarrambat... we are very interested in The Promenade but i feel we may have missed the boat.... does anyone know of any land sales there?? or something similar... we are looking for 600-700 m2.... please PM me to let me know. thanks. aimie I sell land there, at the Outlook at Promenade. I will send you a pm with my contact details if you are interested in a brochure being emailed out. Moved in December 2010 The setback from the kerb is 4m. It is council land to provide an area for services like sewer main, gas mains, water mains, underground power or poles for overhead power,… 4 2394 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5858 Hi All, We have recently purchased a sloping block (3.5m fall building envelope, 6m overall). Just wondering if you know of any good builders that you would recommend for… 0 1769 |