First home buyers grant Q - Land w/ super dud house

[Jakabella]

Also if you are in Vic, then you are unable to build a second house on land under 100 acres unless the original dwelling is demolished first and sometimes you have to build new house on the same spot as old house. We have just come up against these hurdles with building a house ob my mum and dads farm.

[Astrid]

Also if you are in Vic, then you are unable to build a second house on land under 100 acres unless the original dwelling is demolished first and sometimes you have to build new house on the same spot as old house. We have just come up against these hurdles with building a house ob my mum and dads farm.

Yeah, check with Council. We were originally advised that to rebuild we would have to demolish first and put the new house on the same foot print. Thankfully after chatting to them a bit more we will be able to build the new house first on a different spot, but the old house must be demolished within 6 months of the new one being classed as liveable.

Have you checked how easy it will be to get a mortgage? Rural areas there tends to be a need to have a larger than standard deposit. It is not the banks, but the mortgage insurers who want this. We know a couple who are on $150,000+, no debt, huge deposit, but it is still not enough to satisfy the insurers. Think they are looking at 25% minimum.