Buying land now, build next year! Land questions for Allura!

NewBuilder2013 · Sep 05, 2014 9:59 am

un4giv

Ponzu

Although im pretty sure the creek that runs through trugganina isnt 40m wide. Have you been out to see it? Or did you mean 40m of the lenght runs along the street?

I haven't seen it, but the sales lady said it appeared to be that size when she went to take a look.

Anyway, we haven't gone with it yet, awaiting more releases! The LOT we were actually interested in was sold to someone who registered before us! The one next door to that LOT was about 15m2 diff and was asking for extra 11K so we didn't think that was worth it. Let's see what future releases have to offer and go from there! At least we are moving up on the waiting list!

how did you go in the end? from what i have heard - lots are pretty scarce at the moment - so they are pushing pretty hard with their prices and not giving anything away like they used to. as it is nearing the end in terms of sales available- they are maxing it out as much as possible.

pattycake4 · Nov 12, 2014 7:14 pm

would like to know,when you bought an untitled block did land sales for Allura or any other estate
only allow Pre approval and not subject to finance.

aloenyx · Apr 26, 2015 7:26 pm

It isn't a bad idea to buy land now and build later.

I bought 294m2 in South East Melbourne for $152,000 in July 2014. I had barely 5% of the deposit saved and thought I was crazy to buy it. I paid 5% deposit in late August and was expecting to start building in April 2015. My land was delayed until July 2015 and now December 2015.

Since I bought the land I've had two promotions at work, saved over 30k extra and by the time I can build in December I may have saved the full 20% deposit needed to avoid LMI.

Also, land in my estate (same size) is now $8,000 more and will probably go up in the next release. I fixed the price of my build too, in December 2014. The builders prices have gone up $10,000 since.

So I have saved $18,000 (roughly) on land and construction, plus saved an additional 50-70k.

That being said, land prices won't always go up!! And you may find better land elsewhere if you wait. Just think it over carefully and make sure what you do suits you.

BeeBee70 · Apr 26, 2015 7:55 pm

I agree land is scarce everywhere so I am a big proponent of buying land now with fixed in low interest rates!!