Hi, This is my first post and I dont even know if i can post about land, but i’ll try my luck.
I’m a 19 year old male and am interested in buying some cheap land. Purly because I dont know what I will be doing career wise in the next few years, so I want to know what I will be up for p/month. As apposed to buying a house – I just want to start investing!
Anyway I have spotted land in a town called Burnie in the NW of Tasmania, in a new estate, for $30,000.
It caught my eye as the block is one, cheap and it is close to schools, TAFE’s, Doctors, Hospitals and the water etc etc.I just wanted to post to see if anyone has their two cents worth (good or bad) on my potential move to buy land in that area.
Thank you
Glen JamesHi eskimow007 and welcome to the forum
Personally, I don’t think u can go wrong with Burnie, I think that place is on the go for a bigger CG hit.
Pros of land over house no maintenance bills.
Con no rent.
It’s an individual thing, but personally I think Burnie is a good place to be investing at present. Having said that u really need to do your own due diligence and make your own decision.
Regards Bear
Con: As no income being produced, you cannot claim any interest as a deduction on land.
If, however, you can build something quickly and rent it, it could be a goer.
Cheers
MelHi Eskimow007,
I have to disagree with the bear on this one. Burnie is a dump! To me it has very little going for it, and isn’t an attractive place in any way. I lived in Tasmania for most of my life, and no-one moves to Burnie, they are born there and stay, or born there and leave.
If you are keen to buy a block of land, focus less on where you get the cheapest blocks (there is usually a reason for this) and where you get the best value for your dollar.
Nick
ANIBUS
I find the locals often say things like this, as I did about a developing area nearby myself full of housing trust homes that I thought were over priced. Its now a nice little area with good cp being made. I have recently been to Burnie and with my due diligence I believe it will continue to grow. I also know people that have invested there and done very very well.
I was also told Queenstown was a dump and has no CP but last year it had the highest CP then any other town or city in Australia.
Regards Bear
Thank you to all who have gave feedback so far. Its turning out to be a case of the first property I buy will be the hardest!
Thanks.
GlenI think that is the case for most people mate. Dont dispear.
Regards Bear
Originally posted by eskimow007:Thank you to all who have gave feedback so far. Its turning out to be a case of the first property I buy will be the hardest!
Thanks.
GlenI have to disagree with Nick. I have just returned from Tassie and thought Burnie, although not spectacular, was a great little seaside town. On catching the news there they were talking about going ahead with some kind of large development once they can decide on how to protect the penguins.
Ian
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