NSW Undeveloped land worth the money?

[joe_1010]

Hi Investment Heros,

I want to be able to build a house near Sydney and thinking of purchasing undeveloped land in Vyneyard. At present I cannot build on this land and its zoned R2.

http://www.realestate.com.au/property-residential+land-nsw-vineyard-201053327

Does someone know if I should purchase this land can it be used to build on it in the next 2 years ?? If not then I will be paying interest on this land without much capital gain return. What should I look for before purchasing this land ?

The agent says water and power is connected but the back road and sewage needs still need to built before I can build..any idea how long should that take ?

Does any one have or know someone who has this kind of land in Vynyard or Riverstone ? I just want to be able to live in a house in Sydney. Are there any other recommendations if I can get a smaller undeveloped lot in a different area ?

Regards,

Joe

 

[Terry_w]

Does someone help if I should purchase this land and will be able to build on it in the next 2 years ??

What do you mean by this?

 

[joe_1010]

Hi Terry

I meant to ask if I should purchase this land can it be used to build on it in the next 2 years ?

Regards,

Joe

 

[chilliblue]

Council is the only party that can answer that question and before buying I would ensure that if the response is positive, it be placed in writing before purchasing.

 

[ej89]

Hi Investment Heros,

I want to be able to build a house near Sydney and thinking of purchasing undeveloped land in Vyneyard. At present I cannot build on this land and its zoned R2.

http://www.realestate.com.au/property-residential+land-nsw-vineyard-201053327

Does someone know if I should purchase this land can it be used to build on it in the next 2 years ?? If not then I will be paying interest on this land without much capital gain return. What should I look for before purchasing this land ?

The agent says water and power is connected but the back road and sewage needs still need to built before I can build..any idea how long should that take ?

Does any one have or know someone who has this kind of land in Vynyard or Riverstone ? I just want to be able to live in a house in Sydney. Are there any other recommendations if I can get a smaller undeveloped lot in a different area ?

Regards,

Joe

Stay away from these lands. I went to council and they said theres a chance these lands will never get developed. They're part of the paper subdivisions which were done like 100 years ago. I was gonna buy one til I did all the research and spent hundreds to get all reports and info regarding them. That few hundred saved me 150k. Stay away from them mate they're useless blocks of land. If you want more info also google Northwest growth centre and there will be a part where you can click on Riverstone, Vineyard or Marsden Park north and it will tell you about them. The land you're looking at is part of the "scheduled lands". Blacktown council website has info about scheduled lands. You can't so crap wih em unless all paper subdivision owners come together and vote for development but 60% of the land ownership has to be in favour of developmen. What happens next is you pay from your own pocket to develop.
Riverstone just had their votes counted and only got to 56% which was crazy how close it got.

 

[redwing]

Hi Investment Heros,

Had to smile at this Joe