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Browse Forums Building A New House Re: Life Estate - Point Cook 74Feb 10, 2019 10:46 am Probably the bank valuation for land will be between $380K to $430K. manojn Hello All, Planning to buy a lot in Point Cook and my financial broker has advised me that the Bank might offer a low valuation for the land. My lot is 400 m2 and the price is about $450K. Has anyone recently got a bank valuation done. The land is titling in September 2019 and I am concerned about how much shortfall I have to put out of my pocket. The House + Land will be about $720 K Thanks in advance. Manoj Re: Life Estate - Point Cook 75Feb 10, 2019 11:27 am manojn Hello All, Planning to buy a lot in Point Cook and my financial broker has advised me that the Bank might offer a low valuation for the land. My lot is 400 m2 and the price is about $450K. Has anyone recently got a bank valuation done. The land is titling in September 2019 and I am concerned about how much shortfall I have to put out of my pocket. The House + Land will be about $720 K Thanks in advance. Manoj In the current market you can buy a very good house for 720k. My advise would be buy something instead of building a new1. Re: Life Estate - Point Cook 76Feb 10, 2019 1:48 pm Hi Mr. Cool4 , I understand your concern about a cooling market, however as a territory, Point Cook and Western Melbourne has had significant positive growth in the last financial year, making shortfall much more manageable on this side of Melbourne. At most you may experience a shortfall at the maximum of $5,000 as the average but you are in a prime location to reap the long term benefit. based off what we are seeing on Suburb profile, you can check it out here https://www.realestate.com.au/neighbourhoods/point%20cook-3030-vic Re: Life Estate - Point Cook 77Feb 10, 2019 3:59 pm Ali-homebuilder Hi Mr. Cool4 , I understand your concern about a cooling market, however as a territory, Point Cook and Western Melbourne has had significant positive growth in the last financial year, making shortfall much more manageable on this side of Melbourne. At most you may experience a shortfall at the maximum of $5,000 as the average but you are in a prime location to reap the long term benefit. based off what we are seeing on Suburb profile, you can check it out here https://www.realestate.com.au/neighbourhoods/point%20cook-3030-vic That area is one of the hot spots for mortgage stress and mortgage defaults - tread carefully. Our build thread viewtopic.php?f=31&t=82369&p=1525857&hilit=fairhaven#p1525857 Re: Life Estate - Point Cook 78Feb 10, 2019 4:46 pm Ali-homebuilder Hi Mr. Cool4 , I understand your concern about a cooling market, however as a territory, Point Cook and Western Melbourne has had significant positive growth in the last financial year, making shortfall much more manageable on this side of Melbourne. At most you may experience a shortfall at the maximum of $5,000 as the average but you are in a prime location to reap the long term benefit. based off what we are seeing on Suburb profile, you can check it out here https://www.realestate.com.au/neighbourhoods/point%20cook-3030-vic I am not against point Cook. I am advising OP to buy old instead of building a new 1 Painting your colorbond roof with a rust inhibitor can definitely help extend its life and prevent rust. It is worth the cost in the long term as it may be cheaper than… 1 762 Building Standards; Getting It Right! Hi All, We have a fall from road to garage front. But we cannot put a drain/grate because no discharge point put by the builder. Now they complain not enough space for… 0 7679 Hi, I have this sewer inspection point sitting in an odd spot in the rear of my yard: https://imgur.com/ghLI98q What I'd like to do is put a firepit in that corner of… 0 3926 |