Browse Forums Building A New House Re: Is this a rip-off for a price of a land in Melbounre ? 2Feb 10, 2011 10:06 pm Casey + Gary + 5 kool kiddos + 1 funky Frenchie + 5 happy hens = barrels of fun in Muswellbrook Re: Is this a rip-off for a price of a land in Melbounre ? 3Feb 10, 2011 10:12 pm My building thread : viewtopic.php?f=31&t=36059 Paid initial deposit 24/7/10 Tender appointment 20/8/2010 Flooring and tile appointment 25/9/10 Colour and Electrical appointment 13/9/10 December site start delayed Site start (YAY!) 17/1/11 Slab pour 1/2/2011 Re: Is this a rip-off for a price of a land in Melbounre ? 4Feb 10, 2011 10:15 pm Build thread: viewtopic.php?f=31&t=34120 Handover 23 Dec 11 Squatting 21 Dec 11 Fixed 12 Oct 11 Plastered 31 Aug 2011 Framed 7 June 2011 Site Start 7 Feb 2011 Land Titled 18 Jan 2010 Land Deposit 25 Jun 2009 Re: Is this a rip-off for a price of a land in Melbounre ? 7Feb 11, 2011 10:54 am Yep sounds right, we bought our block in 2008 for $104000 now the block in the court that is still vacant, same size is up for sale for $165000. If i had of know i would have bought the whole court out and made a profit LOL you are not getting ripped off, just someone buying and selling to make a profit, Re: Is this a rip-off for a price of a land in Melbounre ? 8Feb 11, 2011 11:09 am Sounds about right, I agree with everyone else. The next stage after ours in the same estate there was an increase in about $70k for the same sized blocks. We were happy we bought when we did. Re: Is this a rip-off for a price of a land in Melbounre ? 9Feb 11, 2011 12:41 pm Miss Piggy Yep sounds right, we bought our block in 2008 for $104000 now the block in the court that is still vacant, same size is up for sale for $165000. If i had of know i would have bought the whole court out and made a profit LOL you are not getting ripped off, just someone buying and selling to make a profit, I often think I should of done that after seeing the value of my block go up about $65,000 in the space of a year haha. But yeah, you'll generally find people will sell it at the price that land in the current stages are going at (Even a fraction higher at times) because people will buy it to build now, instead of waiting upwards of a year before they can even start Land Deposit - 18/12/2009 Became a land Baron - 21/12/2010 Site Start - 27/1/2011 All moved in!! Re: Is this a rip-off for a price of a land in Melbounre ? 10Feb 11, 2011 7:23 pm Hi guys, I just realise that it is not the original price that I've seen. But it is the Land valuation price per the Council !! And it just release last month !! So the Council think that this Lot should has that much value while I am paying 70K or 30% more than that !! Sorry but need to ask again.. what do your guys reckon ? == MY First house ... my first journey...!! Re: Is this a rip-off for a price of a land in Melbounre ? 11Feb 11, 2011 7:35 pm I have to agree with everyone... The price doesn't surprise me at all. We purchased our block in July 2009 for $170,000 448sq (didn't title till March 2010). By the next stage release the same size block would've cost $190K+ ... and now all the land is completely sold... the last stage (end of 2010) was selling between 200k-270k, but for blocks from 300sq< It would be worth purchasing the resell block since you would save on your build costs... unless your site costs are going to be exuberant! Re: Is this a rip-off for a price of a land in Melbounre ? 12Feb 15, 2011 2:25 pm councils always put a lower valuation. This is because when they say rates are going up by 5% the mean they are double dipping so to speak. Because land is going up you pay 5% on the new land value and not the old which means people often pay 10-30% extra on rates from year to year. So when you go to complain they say you land is undervalued on their records so they tell you if you raise this issue it can go up further. Re: Is this a rip-off for a price of a land in Melbounre ? 13Feb 15, 2011 2:39 pm If he is only asking for the same $ as what new blocks are selling for then it sounds like a good deal, especially since there are many people on here that will tell you to expect delays getting titles. Some have been waiting over a year if I've read it right. Land prices go up every day. I had to have a re valuation on my place as our original building route didn't pan out. The difference was $27k 2 months apart from the same valuer (The exact same guy did it!) The market cools slowly and heats quickly, so if you want that block you should buy it. Before someone else does and you have to wait 12+ months for a title. Re: Is this a rip-off for a price of a land in Melbounre ? 14Feb 15, 2011 3:06 pm Sounds about right. A block across the road just sold for 100k more than we paid for ours 3 years ago. Council value our block 15k less than what we paid! 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 Re: Is this a rip-off for a price of a land in Melbounre ? 15Feb 15, 2011 3:28 pm Ask yourself, if you owned the block how much would you sell it for? Would you look at similar blocks in the area and sell it for a similar price? As for whether it's a good deal or not, it's the same process - look at what else is available. Remember to factor in slope and fill - some sites cost more to build on and have less usable space at the end, and so they have hidden costs not included in the headline price. 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: Is this a rip-off for a price of a land in Melbounre ? 16Feb 16, 2011 10:15 pm Thx you everyone I've got my Land valuation from the Bank today. It comes out at $10K lower than what I am paying but $60K higher than the Council valuation ^^,) > So I am now confident that I am getting a Bargain here == MY First house ... my first journey...!! I couldn't attached the photo for some reason. Here is the link to the photo https://pin.it/79jwdMp 1 3109 Get some long brass machine screws and bolt right through the gate and put brass acorn nuts and washers on the other side. It will never come off 1 9070 1 2965 |