Venus Bay (Block Of Land)

Does anyone own a block of Land down Gippsland way, coastal? I'm looking at buying something to build a Holiday House on in the future. Love Inverloch, Phillip Island & Cape Patterson but all are a bit expensive now. Don't really wanna spend over $80-$100k, any ideas?
 
heya Bayside,

I have a friend who is an expert in countryside around there,

and one of my goals was to buy a block of cheap land, maybe build a small town house or more depending on the size, (prefebly huge) right on the beach

so in about 10 years time, my $100-$200k investment, would be worth gazzilions.

However, according to my friend, there is really absolutely nothing there and it would take a long long time for anything to happen,

Ive never been there but my guess is just a few houses with maybe 1- 2 shops

btw how far is it from melbourne??
 
Vb

I have a house there!

Bought a block 7 years go for 60k and spent 100k building a house. Now worth 250k.

Plenty of block for 80-100k.

Here is what I did 7 years ago. I emailed 2 realestate agents and told them i am in the market for ablaock of land and that I WILL be buying by the end of the day. When I arrived each agent took me on a tour. I picked my 5 favourite blocks and offered 20 percent under the asking price on each one (accross the 2 agents). I gave them a 2 hour reply time and went for a beer. Make sure you spread accross a few agents so they dont collude or even withold offers.

2 hours later I had 2 counters and I bought the one I liked the most for 15 k less than the asking price.

Its an ok investment but it really is a lifestyle thing for me - it is fully paid off and we will have it forever.

BTW combines with tarwin lower there are atleast 10 shops, 1 pub, 3 takeawyas, 3 deb and breakfasts and 1 motel!

Cheers
Aussie
 
Thanks guys, yes it is more a lifestyle choice. I'd like to have somewhere I can escape the city and relax. I'd prefer to buy on the Mornington Peninsular, Phillip Island, Cape Patterson or Inverloch but have been priced out of all those areas. I really don't want to spend more than $80-$100k on land.

Venus bay is about 170km from Melbourne, thats about 2.5hr drive.
 
First drive around Inverloch reminded me alot of Barwon Heads without the Bridge. As the population grows I wonder if a bridge will be built across to Venus Bay. It's only really 2hrs from S/E suburbs so not that far considering people go down the ocean rd on Holidays.

Another spot I had a good look at was Coronet Bay & Grantville, both were way too windy and the beaches were more like swamps. Disapointing but I knew there must be a reason for them being cheap
 
I have a rental down at Inverloch....my family has been taking us there since we were kids...it's really amazing to see how it has changed in the last 20 years. A lot of nicer places being built there...I'm holding on to this one (even tho it is heavily -vely geared) just because I see a lot of potential going forward. Who knows, one day I may get to retire down there by the beach :)
 
How far from Inverloch is the desal plant being built?

I live in Inverloch, we just sold ppr PP for $140k profit over 2yrs. Bought a block 2 yrs ago for 135k, they are now 250k in same area, 400m directly in from surf beach.
People do not want to build here, just trun up and buy. You can make in excess of 75k just by bulding and selling. We are now finishing off building our IP, which is going to become our PPR until we build a new PPR. We will then rent it out.
Desal are offering $500 w/k for a 3-4 bedroom house to rent as Aquasure are paying 350/wk living away from home allowance. It is about 20minutes from desal, which needs 350 house to rent, no village is being built for workers.
Blocks are still available further from the surf at $155k. AV Jennings will build for Metro prices plus $2500 travel allowance which is about $50k cheaper than local builders. You cant buy an existing house under $350k, which is what it will cost to build a 22sq AV Jennings house on a new block, which we are now doing.

Not many new lots being released over next two yrs. There are lots for $275k 724m2 100metres from surf beach. But only 3.5m above sea level.

see: http://www.surfbeachestate.com.au/


hope this has helped
 
Hi Legs - I think coldon homes might disagree with you!

Coldon homes...lol.. well yes if you want a fibro clad house on stumps with yellow tongue on 2 ply..lol

I'm talking about an AVJennings brick house 5 star energy, stone bench tops, 900m blanco freestanding gas oven, ducted gas heating, solar hot water with gas booster, all carpets, all tiles, dishwasher, driveway and all top quality brands.

Virtually finished apart from cross over, letterbox, antenna and clothesline.
 
Coldon have those nice houses too you know.

http://www.coldonhomes.com.au/homes.php?sectid=2

Nice local business - built half of the island, Wonthaggi, Inverloch over many many years.

Are you on a Av Jennings commission or something - ha!

No but i think your a Coldon Homes agent...lol

you tell me...do you think they build a house that will look good in 10 yrs still? Because all of the island and wonthaggi and Inverloch are filled with Coldon Homes that look trashy after 10 yrs.
 
Some of them (coldon) are fine - check the website. There areas arent meant to be full of city slicker homes IMO. Inverloch isnt meant to be extension if suburban cranbourne with AV Jennings houses eberywhere!
 
Venus Bay

Hi Guys,

I am looking at purchasing a block of land at Venus Bay - approx 80k or so. I'm looking at it purely as a retirement type thing for later on in life. Would it even be worth putting a small 2 bed cottage on it and renting it out ?

Is there mucn rental demand in this area ? Also - why are the blocks so cheap in this area ? Any info you guys can give me would be greatly appreciated

Cheers
Matt
 
Bayside

I got a little tip for you.

I considered Venus Bay but was turned off by being continously bitten by these horse flies or whatever they are. Their bites really hurt and I can still feel the pain. I could not wait to get out of there.

I live nearby you in bayside Aspendale. We have got a beach and with kids activities its not always easy to get away.

I bought 6 months ago in Goughs Bay. Its on Lake Eildon near Mansfield and its a 45 mins drive to the top of Mt Buller. Its bang in the High Country. Its only a 2.5hr drive from bayside melbourne via Eastlink and the Yarra Valley. I love it up there. There are things to do in summer and winter. Water skiing, fishing, motor bikes, bush walks, swim in the rivers etc.

I decided as i live near the beach and am a short drive to the peninsula and Philip Island etc why buy there. From the few people i have met so far, my neighbor out back is from Frankston/Mornington and my next door neighbor has a son in Aspendale.

I love the country feel that does not exist in the suburbs.
 
Some of them (coldon) are fine - check the website. There areas arent meant to be full of city slicker homes IMO. Inverloch isnt meant to be extension if suburban cranbourne with AV Jennings houses eberywhere!

well with the average house price now $411,000 you wont be seeing many Coldons going up in future, i can assure you of that. If they were listed ont the ASX i'd say SELL SELL SELL
 
Hi Guys,

I am looking at purchasing a block of land at Venus Bay - approx 80k or so. I'm looking at it purely as a retirement type thing for later on in life. Would it even be worth putting a small 2 bed cottage on it and renting it out ?

Is there mucn rental demand in this area ? Also - why are the blocks so cheap in this area ? Any info you guys can give me would be greatly appreciated

Cheers
Matt

It is an extra 30 mintues from Inverloch, virtually no shops, March flies everywhere, bad bushfire risk from Tea Tree everywhere and NO rental demand as it is too far from Wonthaggi Desal or Leongatha Dairy factory etc.
 
You are on fire legs - keep up the good work!

I can honestly say in the 6 years of owning down there I was never bitten by a march fly. I am not saying their are none there but no more than many other beaches along the aussie coast. I recommend RID!

I have explained this before - the reason VB is undervalued is because of its history. There was no town 70 years ago. It was owned by one family - when the last one died they bequeathed the entire area to the Alfred Hospital who then divied up the blocks to raise money for the sick. SO if you belive in Karma - this is the place to be.

By any stretch VB is a prisitne wilderness coastline. It may not have too many shops and be a little windy but thats the gig. Why do we want everything to be perfect. That is the reason some people like Noosa and some people prefer to camp in the wilds of Wilsons prom.

VB is the genuine holiday get away from it all spot down the road from the build up metroplis that is Inverloch. We love Inverloch too...horses for courses.
 
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