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 buying empty lot land.. is it worth it?

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ayamayam
post Jan 11 2016, 09:56 PM

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Land status under shared grant = no bank loan. Same problem as the kontena home guy which had to take personal loan instead. Aside from the cost to buy the land, you need to factor in the cost to build the house on the land, which you have to fork out on your own too.

I don't see how the value going to appreciate because whoever that buys it will not be able to qualify for a bank loan. So the buyer have to be cash rich, or take personal loan.

So despite the land cost being cheap, I don't see it being a profitable venture. But if for own stay, should be ok if you are planning to live there
ayamayam
post Jan 12 2016, 09:08 PM

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QUOTE(call me random @ Jan 12 2016, 08:03 AM)
no i dont plan to live there.. but consider this way..

u pay now rm10k. for example.

then later got money only build the house la.

like u buy house under normal housing developer..
u pay deposit also, (the same 10k) n settle the house full payment in stages/35yrs max later..

but the diff is while making personal loan could be higher cost cos only short term (10-20yrs) n higher interest, u still possibly more untung than those perceived value of what a house could be, n u get to control the quality also. 

idk if my words is understandable lol

but now that ive wrote those out seems like still a long cut before u make actual money fr there sweat.gif
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to make money this way you need:

1. You have to find someone that is willing to buy a house that sits on top of a land that is under a shared grant
2. The buyer have to pay you cash since he/she will not be eligible for a bank loan as well

if you are confident you can find a buyer who have no problems with the above 2, then it is a worthy venture to do
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