Shaun&Dee

Can you buy land and live in a mobile home on the plot whilst waiting to build a new home on the land. I would like to buy the land then live there for a year or 2 whilst sorting out plans, etc., then build on later. Are there regulations to stop you doing this?

Sunny_Glesga

I would like to get some info on this too

herrchook

Sound like a great plan but I'm not sure I could live in a caravan for 2 years though.

Hope someone knows the answer to your question.

Siren & Brian

Dont know 100% but highly doubt it. Wold think there would be heaps of people caravaning it while their house gets built.

thebears

Depends where the land plot is and what the respective council bylaws are. You may also come across time limits by where you must commence building within a certain time.

To claim the homebuyers grant I think you need to be constructing within 6 months.

Have you thought of building the garage first with a bathroom? You could then move into this while you complete the rest of the house? You might also find it for cost effective to move into a caravan park with better utilities during your construction if you are after cost savings. It would also allow you "people" time.

Shaun&Dee

My thoughts were to buy the land (a nicer bit than could afford for house/land package), and to save up for a short while so that could build the house that I want.

In the event that I couldn't quite afford the house aswell after saving for a while, at least I would own a nice plot of land as an investment for the future.

I like the garage idea though.

thebears

Depends where you are looking and what your PR status is. The best plots will be established surburbs - look to knock down existing house and build again or just renovate.

In some areas the cost of land is no different to land + existing building.

Land banking can be expensive depending on your time frame (remember there are lots of hidden charges for just holding on to land).

We are doing similar but wife definitely would not put up with living in a caravan for a year (I did suggest it). Also our local council have strict bylaws which do not allow it .

What part of Oz are you looking?

Shaun&Dee

QLD somewhere, possible Sunshine Coast, Gold Coast or Brisbane.

I want to be somewhere where there are nice beaches and sea (I come from London!), hence the thought of landbanking. Need to be near a biggish suburb as I work as a Quantity Surveyor.

thebears

Do you have PR? makes a big difference due too restrictions if you need FIRB approval.

Should be alot of plots however to choose from up there.

Shaun&Dee

Yes I do have PR (I think). I got a 136 Skilled Independant Visa, which doesn't any any restrictions (except time for entry).

TheAshleys

What is the homebuyers grant anyone ?

thebears

$7000 if you have not already purchased a property in OZ
Victoria gives you additional $3000 if the property is below $500K

You must have PR to obtain it.

geordie mandy

That is very interesting news, i wasn't aware of the extra money if property was under $500k.
Very welcome news
Mandy

thebears

Yes, Hi Mandy.
It makes you think twice about going over that amount when you are just paying for land.

geordie mandy

Hubby is thinking of buying a wreck with land, (whilst we are in army housing )
And pulling it down and building our dream house, is it worth doing that?
(you are up early mate)
Mandy