Hi All,
I'm considering buying some land to build a house with the intention to sell it on completion.
The idea is to make between $20,000 and $30,000 without holding the asset (and liability).
I've been offered a deal in the Sunshine Coast (Caloundra) in one of Australand's estates called Ivadale lakes.
Based on the costs I've calculated, I'd need to sell the house (4 bedrooms) for around $505,000 at the end of the year.
I do not know the area so would be interested in getting any information you would be willing to share about the market in the area.
Do you think this price is achievable?
What do you think about the probability of a quick sale of a brand new house?
Any pitfalls or issues to watch out for when buying in this area?
Thanks
MJ
I'm considering buying some land to build a house with the intention to sell it on completion.
The idea is to make between $20,000 and $30,000 without holding the asset (and liability).
I've been offered a deal in the Sunshine Coast (Caloundra) in one of Australand's estates called Ivadale lakes.
Based on the costs I've calculated, I'd need to sell the house (4 bedrooms) for around $505,000 at the end of the year.
I do not know the area so would be interested in getting any information you would be willing to share about the market in the area.
Do you think this price is achievable?
What do you think about the probability of a quick sale of a brand new house?
Any pitfalls or issues to watch out for when buying in this area?
Thanks
MJ