Browse Forums General Discussion 1 Oct 19, 2008 3:05 pm Hi,
Need some advice here.. Recently bought a piece of land at Featherbrook Estate, Point Cook.. and at the same time got an offer to work oversea for a couple of years.. just wondering whether it will be a wise decision to build my home while I am away..or just keep the land and leave it as it is..... some advice would be appreciated Re: Build or not to build?? Need advice 2Oct 19, 2008 4:15 pm Keep the land...at the rate of development of Point Cook by the time you come back yours will be the last in the estate and will have appreciated in value substantially. We should have bought two blocks when we lived there...
If you decide to build most of the other houses will have been built around you and you won't have to deal with the construction traffic. Just check your covenants...some require you to build within a certain time...although I'm not sure what "they" can do... I believe BrisVegas is building "remotely" you may want to check out how he is going. Re: Build or not to build?? Need advice 3Oct 20, 2008 7:52 am My block (Alamanda) is in point cook too and i must start construction within 18months once settled, so properly you need to check your contract and see whether you have a similar clause in Featherbrook..
If you are allowed to leave it as vacant land, then better keep it and wait until you are back... Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny Re: Build or not to build?? Need advice 4Oct 20, 2008 8:11 am I personally don't like leaving a vacant land in a new estate, you may end up with all the crap dumped on your land! Especially if you are the last to build! Re: Build or not to build?? Need advice 5Oct 20, 2008 9:03 am Here's my 2 cents worth!
- If you were going to build will it be for you to live in? or will it be for investment purposes only? If its investment then just get a project builder and build! If its a place you are going to live in then i may hesitate... - Have you consider the tax implications? you can't negative gear an empty block so you will feel the full brunt of interest payments. - If it was me and i have family in Melbourne that can help monitor the build process and if you are not too picky on every minute detail then there's nothing to stop you building. (ie. use independent building inspectors before each payment). Just remember, melbourne's population is always increasing each year and people gotta live somewhere, house prices may increase at a slower pace during times of economic turmoil but i have never seen it go down bite the bullet, minimise your risks by taking good mitigating strategies and go for it. ---->Some say that a recession is when your neighbour loses his/her job while a depression is when you lose yours!<----- Re: Build or not to build?? Need advice 6Oct 20, 2008 10:38 am Hi all,
Thanks for all the advice. Construction is within 3 years at Featherbrook. As for moving in or investment.. I guess is both. Planning to move in once it is done though.. can I actually set up the fence first?.. so my neighbour won't dump anything on the empty land.. Re: Build or not to build?? Need advice 7Oct 21, 2008 12:42 am Hey avwbugz
My wife and I are in the same situation.... Bought a block of land in Cranbourne - settled in January - and are now living in Canada for work. We are just keeping the block as-is until we get back in a year or two. We have put fences up, and all the other houses around about are finished or nearly there. There was/is some junk on the block last time I looked but it will have to be cleared anyway when we build so not too worried - and a great big pile of dirt a builder left on there was taken by someone else. If you can afford the mortgage repayments then I would highly recommend you keep it - we already have between $40k and $50k equity on it - and if you build the stamp duty is already paid so any more money you need to spend can go straight on the house. I'm not going to risk building remotely because going by people's experiences on this forum - even if you are there to keep a close eye on things they can still go badly wrong so imagine if we weren't there! Brisvegas (another user on the forum) is building remotely though - not sure how he is going. After 2 false starts, a year living overseas, two more world trips and 3 years of uncertainty we are now starting the build process again - hopefully for real this time! XCEM Alpha flooring seems to relatively new and I could not found any reviews. Have you or someone you know have used it and would recommend over other subfloor options?… 2 7598 Levelling compound Ardit is the best but buy a bag of sand and make sand dam to protect your wood floor 2 15259 I’m not a structural engineer but I’m free. you still need an engineer for the plans. I only have part of your plans, but you seem to have a 850mm drop from the side… 3 9969 |