Is it profitable to buy a real estate property in Campbelltown?

Is it profitable to buy a real estate property in Campbelltown?

As we experienced, there will be no profit from the purchase of the land in the Campbelltown City Council. Lets do some sums.
You buy a block of land for $500,000.
You live on a rent for a period of construction – well, you need to live somewhere, so this does notcount.
Say your land purchase loan has 6% interest – in 3 years, you will pay $90,000.
During this period, you will pay, at the Council’s whim, in excess of $50,000 in the application and report fees.
In the first 3 years, you pay 30% of the land value. And you still do not even have a place to live in or rent out!
The Campbelltown area is said to have 10% annual growth value. You think this is a great thing? Wrong! The prices may grow but all profit is lost!

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