Owning your own piece of land is a reachable dream but finding the right spot means there’s a great deal to consider.
Having the guidance of a conveyancer will bring peace of mind. Here are a few things you need to consider before you buy land.
1. Look for good opportunities
Real estate agents and even conveyancing experts advise buyers to look for a piece of land that provides good building opportunities. If the site slopes, you’ll need to factor in further excavation expenses and foundation works, so it’s typically better to pick a home design that suits a sloping block if you want to reduce costs on excavation and foundation.
It’s usually wise to carry out a geotechnical investigation. This will help determine the ground classification. For instance, if the ground is rock, you’ll have to account for the hourly rate for a rock breaker to do the excavation. On the other hand, if the ground is too soft, you’ll face extra costs for drill foundations.
3. Get a professional opinion
When looking at land, get a reputable builder to take a look and compare it to others for a square meter rate to ensure you’re getting fair market value.
4. Zoning restrictions
Before your purchase land, make sure to research any zoning regulations for the property as well as the surrounding area. Councils tend to have strict rules regarding what land can be used for.
You should also ensure that there are no plans to build a highway or any other type of infrastructure through the land or within the nearby area.
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Find out how the property connects to water sources and if there are any water use restrictions. You know that water is an essential utility, so it makes sense to know your obligations and options before signing on the dotted line.
6. The climate
Temperature highs and lows, seasonal changes and yearly rainfall should all be considered when looking to buy land. The climate affects aspects such as:
- How you insulate your property
- How much energy you might use
- The kit home that’s right for the land
- The potential for frost and drought
7. Flooding and bushfires
Ours is a country of extremes. Depending on where your land is, it could be at risk of flooding, bushfires or both. Cross check occurrences over the past few years to get a good idea of how safe your home will be.
8. Quality of soil
Soil composition and quality impact how you build your home and the potential for growing plants. In fact, soil composition can impact:
- Stability and land retention
- Cost of building foundations
- Earthworks needed
9. Access to utilities
Find out which companies will connect your water, gas and electricity, their costs and if there’s any competition on the market. Rates tend to differ depending on where you’re located, so it’s worth doing your research first.
10. Type of home
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Finally, your property should be in service to the type of home you wish to build. You want a property that will suit your lifestyle as well as the home you want to build. Talk to a design team about the right designs for the property.
Use these 10 tips to ensure you buy the perfect block of land.
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