Thinking of buying

**jasons673** · 18th March 2010, 10:29 AM

Hi FC, your bank was just as sceptical as ours when you start talking a 40ha or more. They were very conservative with their valuation of the block. Even though we had quite a bit of equity on the house we were living in at the time. Don’t feel bad the bank knocked you back. On the power side of things, energy Aust, were very helpful in helping to spend our money!

We also had power run past the gate, we went to a power designer, who worked out how big a transformer we'd need given the voltage drop over 280mtrs to the house site, they worked in conjunction with EA and their requirements. This cost $ 4000 thousand. Then we could take these plans to the power people. We had wild quote's up to about $90 thousand

, but they were on average around $60 thousand. Then in six months we have to hand over the asset to EA! We did all the work inside the fence and saved quite a bit of money. Then just employed the level one leco's to install the transformer ( about $ 30 thousand ) , who'll connect to the internal pole inside the property line. Factor the in the above when doing your budget.

**funkychicken** · 18th March 2010, 03:15 PM

Originally Posted by masoth

Will you be requuired to "improve" the land within any short time, or can is remain as it is? Constructing a house and sheds can be a difficulty in the short term, particularly if you have to find additional finance.

Improve as in build? Nope

This agistment business sounds worthwhile, I'll have a talk to some farmer friends of mine about it.

**wheelinround** · 18th March 2010, 08:47 PM

FC recalling your hssles with building your shed (did that ever happen??)
I'd be checking to see if you can build for sure and whats the chance of similar foundation hassles.

**funkychicken** · 20th March 2010, 08:44 PM

Or there's 10 acres within spittin distance of Goombungee (about 20km north of Meringandan) for $160000. There's town water and power but it's a tenth of the size and I'd have to worry about neighbours and council.

**funkychicken** · 21st March 2010, 10:10 PM

I had a look at the land at Pilton, I don't think I'll go after it. The 10 acres in Gooooooooombungee is looking better by the minute

**artme** · 22nd March 2010, 09:34 AM

Lots of good advice above Feathered One. One Problem I didn't see mentioned was fencing. Better to look after the fences on a smaller block.

If you can manage the investment it would be worthwhile on the 10acres.

Neighbours and council will always be a consideration, no matter how big or where the block is.

**itsposs** · 8th April 2010, 07:47 PM

Yeah at about $6.50 - $10 a meter fencing is some thing to take into consideration no some councils have requirement for rural fences especially boundry fences and if you back onto a National park or state forest you ll need above average fences as well. But you do get an A for effort some thing to rember everybody is land prices on average peak or multi value on a 7 year cycle and thats from a well respected Realestate consultant.

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