Land & loans
Hi Jenny
Before I would give any reasons, I would want to know where the land is ,, R you expecting high cp, does land supply out strip existing home purchases, is the land in great shortage?
Also have you purchased it OTP?
I mainly invest in land alone. In some cases I have only needed to hand over 5% ... While at settlement borrowed 120% to reinburse the 5% + interest payments.
We Australians love building new homes, for that latest trends, such as a media room!! ect.... & if the land is not in great supply one tends to pay a high price to build..,,,to have these new ideas
It can be such a great investment. If conditions are right!
I have many with no homes on them. If cg is high why build? Hold it until the % tells you to.
In regards to loans,,, 10% IS very common with LMI to be capitilised on top.. So 10% down & stampduty along with solicitors
costs get you there. Like many others ANZ is a good start to look.
Just another point of view
Ocean