News & Advice.
6 Factors to Consider Before Buying Land.
Purchasing a block of land comes with just as many considerations as buying a house or unit. No two blocks of land are the same, and thorough research should be conducted to ensure you have found something that meets your needs and does not come with costly surprises along the way.
Here are six areas to consider closely before buying land.
Zoning can seriously affect your decision to purchase land, as well as impact your ability to obtain finance.
Each council has different zoning rules, which generally dictate acceptable land use (i.e., residential, commercial or industrial purposes) and dwelling types (e.g., single residential zones typically do not allow apartments), as well as highlight weather-affected areas such as those prone to bushfire or flood.
Contact the local council to conduct comprehensive research into zoning regulations before you start to make any plans.
Terrain and soil
Different terrains and soil types mean different construction costs. Steep blocks typically need excavating and levelling. Beachfront can come with erosion challenges. Trees and rocks need special attention.
Remember, no two blocks are the same. Take a good look at the land and survey its unique composition. Conduct a soil test for physical and chemical characteristics to determine if it is safe and stable to build. A higher soil composition will minimise the cost of foundations.
The orientation of the land and how you position a dwelling can significantly influence lifestyle factors and associated costs. North-facing properties typically receive substantial natural light and warmth, whereas west-facing properties can be prone to excessive summer heat.
Consider the orientation of a block and optimise natural elements and energy costs during planning.
Climate can influence a building’s construction and engineering, along with how best to landscape the surrounds. Research the area’s average yearly rainfall, weather conditions, seasonal changes, and temperature ranges.
Thorough research will give you insight into what building materials are best suited for your block, what insulation is needed, and what types of vegetation can be grown, as well as how much energy you can expect to use.
Proximity to essentials
Carefully consider what the location of the block offers. Pay attention to proximity to amenities, including schools, medical centres, parks, public transport, and shops.
Proximity to these essentials will make your lifestyle at the property more convenient and ensure your investment increases in value in the long run.
Access to utilities, including water, gas and electricity, can significantly affect the costs and time involved with building. Investigate what utility companies are in the area and what state planning measures apply.
For example, in New South Wales the NSW Government’s BASIX certificate sets minimum sustainability targets around reducing household electricity and water use and costs for new and renovated homes. These targets must be achieved and demonstrated as part of the development application process.
The Maker Difference.
Our buyer’s agents know the ins and outs of buying property and can connect you with financial advisors and providers to help you put your best foot forward and successfully enter the real estate market.
Whether you are looking for support in hotspots like Sydney, the Central Coast, Canberra, Melbourne, Brisbane, the Gold Coast, the Sunshine Coast, or in any other city or regional centre in Australia, we have the network to help you realise your property goals sooner.
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