Buying land at outskirt of the suburb?

[TMNT]

Just wanted feedback on what people think on this site

http://haydens.com.au/displayproperty?c=19591&t=r&o=3
ignoring price for the moment,
its 6200sqm, so big chunk of land

but if you look on googlemaps, its on the outskirt of the town, and opposite the house, is all built up

How would property investment experts value/consider this site?

my emotion says, its the start of an endless supply of land,
my head says, if you buy , then its basically a spill over street so if you buy and subidivde, it will sell if priced right,

since its a low socioeco area, new dwellings are selling from $250-$290k,
so if I built a townhouse, or even a cheap house, for say even $200k,
then the entire exercise is a major dud,

Land banking would take too long as its negatively geared,

maybe buy, subidivde land, reno house and keep

or is this site a simple dud?

 

[Spades]

Hi TMNT,

Ninja have you checked with council?

I don't know the area but goin by googs m4ps ur next door to resi.

Land bank but there is land but populate prediction for the area etc may tell.

No sewer and on septic atm.

Good luck!...Dud?...I dunno,afford to hold before it?

Meh not much help,
Cheers Spades.

 

[TMNT]

Hi TMNT,

Ninja have you checked with council?

I don't know the area but goin by googs m4ps ur next door to resi.

Land bank but there is land but populate prediction for the area etc may tell.

No sewer and on septic atm.

Good luck!...Dud?...I dunno,afford to hold before it?

Meh not much help,
Cheers Spades.

cheers again spades,

yes its basically surrounded by resi, population growing, estates going up on the other end of town in the spill over areas

as for sewer and septic, can you tell from maps can you?

 

[Spades]

as for sewer and septic, can you tell from maps can you?

No lol,i presumed from the ad,as it only mentions town water but no mention of sewerage.

Cheers Spades.

 

[tobe]

6 to 10 blocks for 600k.
land in ballarat doesnt go for much more than $100k.

Not in sebas anyway.

 

[nhg]

6 to 10 blocks for 600k.
land in ballarat doesnt go for much more than $100k.

Not in sebas anyway.

+ Cost of sewage and other internal connections.

What's that cost? $1k/m? and holding cost?

Would need to get it at quite the bargain price.

Been thinking of land banking, but that is a whole other skill-set I haven't even started to develop yet.