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 :(