Buying land

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Old May 17th 2005, 9:50 am
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Question Buying land

We want to live in the SE Suburbs of Melbourne (Bayside) and have been advised to buy land and build to avoid the extortionate stamp duty. The thing is, we have looked at land available to buy and it is more expensive than buying an established house on a similar sized plot of land. Are we missing something here.
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Old May 17th 2005, 10:01 am
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Default Re: Buying land

Originally Posted by coxfamuk
We want to live in the SE Suburbs of Melbourne (Bayside) and have been advised to buy land and build to avoid the extortionate stamp duty. The thing is, we have looked at land available to buy and it is more expensive than buying an established house on a similar sized plot of land. Are we missing something here.
A few sandwiches? Building - no picnic.
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Old May 18th 2005, 10:40 am
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Default Re: Buying land

Originally Posted by coxfamuk
We want to live in the SE Suburbs of Melbourne (Bayside) and have been advised to buy land and build to avoid the extortionate stamp duty. The thing is, we have looked at land available to buy and it is more expensive than buying an established house on a similar sized plot of land. Are we missing something here.
We thought that until we looked at the actual houses, not the internet. Now buying land.

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Old May 18th 2005, 10:55 am
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Default Re: Buying land

I looked at his too, I reckon even if the house is a cr*p hole, if it's cheaper that a similar sized plot and in a good location then surely you could just demolish it and then build what you want ?
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Old May 18th 2005, 11:18 am
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Default Re: Buying land

Originally Posted by Phil-UK
I looked at his too, I reckon even if the house is a cr*p hole, if it's cheaper that a similar sized plot and in a good location then surely you could just demolish it and then build what you want ?
Yes, so long as you don't have a temporary visa (FIRB restrictions) and want it classed as a new-build.
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