Post to Facebook on 30/8/2019 11:24 AM
Commenting on “An empty block of land in Melbourne’s suburbs? Expect to pay millions”
Land, glorious land! Obviously not every piece of land is a pot of gold.
It is important to keep in mind when you invest in any property that you must have a vision.
Actually, I think I use the wrong choice of word, "vision". I am good in imagination, forming pictures in my brain without looking at things. That is not the usual meaning of vision, because sight is not a necessary factor in imagination.
You have to learn to close your eyes to visualise mentally the potential use of that piece of land, taking into consideration of future growth of the surrounding.
Scarcity means supply is not readily available or short of supply. However, that does not imply that demand is knocking on the door. Prices will only go up if demand exceeds supply.
Some people buy blocks of land and let it sit vacant for years. Land hoarding can be risky unless you have some ideas with what you want to achieve and duration you want to hold them. Some cities or shires have very high rates, in addition to water rate and land tax, and without any income generated from land, your return can be greatly reduced.
Remember, always buy on the high side or higher ground, especially near water.
Thank you for reading.
Commenting on “An empty block of land in Melbourne’s suburbs? Expect to pay millions”
Land, glorious land! Obviously not every piece of land is a pot of gold.
It is important to keep in mind when you invest in any property that you must have a vision.
Actually, I think I use the wrong choice of word, "vision". I am good in imagination, forming pictures in my brain without looking at things. That is not the usual meaning of vision, because sight is not a necessary factor in imagination.
You have to learn to close your eyes to visualise mentally the potential use of that piece of land, taking into consideration of future growth of the surrounding.
Scarcity means supply is not readily available or short of supply. However, that does not imply that demand is knocking on the door. Prices will only go up if demand exceeds supply.
Some people buy blocks of land and let it sit vacant for years. Land hoarding can be risky unless you have some ideas with what you want to achieve and duration you want to hold them. Some cities or shires have very high rates, in addition to water rate and land tax, and without any income generated from land, your return can be greatly reduced.
Remember, always buy on the high side or higher ground, especially near water.
Thank you for reading.
