What's our land worth?

October 21, 2010

One total BONUS of all this waiting, waiting, waiting is the rise in land value at our estate. Check this out...www.realestate.com.au
Doesn't mean they'll actually sell for that amount of course, but it's still pretty impressive growth  from a <$220,000 purchase price in February.
But on the down side, our lender doesn't accept increases in land value for purchases less than 12 months ago, and as we haven't sold our current home (or even put it on the market) as we (read, not me) were hoping to time it all perfectly and move straight from one to the other, which will more than likely push us into mortgage insurance territory - ouch!!
I'm so totally over it all today that I could just sell the land, pocket the profit that the bank doesn't recognise and live in a tent in Janine's (http://fromcharlesgreentocharlbury.blogspot.com/) backyard :(

2 comments :: thanks for sharing!:

Janine Kimberley said...

He He, that may be a problem Reinsey, as you will probably start before us anyway!!! We also want to do the one move thing - by the way the block next door to us is up for sale, you could buy that one instead and live next door - no need for a fence!!

Debra said...

Oh....Reisnsey you are having a bad day. It will all come together. Look at the land prices now and compared to what you have bought the size. When will they title?. The time waiting and I know its the uncertainity, is miniscule to the time and enjoyment you will have in your beautiful new home. Do I see yours and Janines tents on my front yard??

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