Let’s have a look at the pros and cons of purchasing a vacant land.
Pros
#Low Deposit required.
#Low Stamp Duty as it is only calculated on the land price not on the construction.
#Eligible for First Home Owner Grant.
Cons
#Lack of amenities & infrastructure in a newly released land estate.
#Take time for Capital Growth.
#Holding Cost until the property is built. The land will sit vacant and will cost money to maintain each year.