Property Advice?

Hey everyone, just looking for some advice regarding purchasing land in rural/remote VIC.

I've come across a block of land that is roughly 3000~square metres in size. The land needs to be filled and evened prior to any construction. It's in a residential area, down Swan Hill way. According to the agent, it's got water supply in the street. Has electricity across the street, so would need to connect it. No sewerage system, so would need to have a septic tank installed.

I am in a position to pay cash for the land, which would put me back roughly ~45k only. Is it a smart idea to purchase that land with a view of selling in the near future? I wouldn't want to live down there. Just wondering if I would be able to flip it for a profit sometime within the next 3 years. Or if I could build on it and sell a house. But doubt that would put me in the green as the average houses around the area are selling for around 120-150k. Smaller blocks, but built houses (1500-2000sq m mark).

My concerns are that I'm looking to buy a house in metro Melbourne and this would take away my current savings for a house deposit. Also would lose the FHOG.

What do you think? Is there potential for a smart investment here?

Submitted August 10, 2022 at 09:43AM by Ok_Impression_6560 https://ift.tt/ihu1mfd