What To Ask When Buying A Block Of Land – When buying in bulk, it’s important to enter with your eyes open. While the land looks perfect on the surface, there are many underlying factors to consider. From legality to the nature of the land, knowing every piece of information can save you a lot of grief. So, when buying land, it’s important to ask yourself some tough questions before you sign on the dotted line.
The location of your home is the most important thing. Therefore, it is important to ask yourself some key questions about the location before buying a plot.
What To Ask When Buying A Block Of Land
One of the first things to consider when buying a property is location. Blocks should be in a place that makes sense to you. To find out, ask questions like proximity to transportation, schools, and shopping centers.
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The choice of location largely depends on the lifestyle you are looking for. If you can work remotely, maybe find a country block with lots of space and privacy. If you dream of building a waterfront property, consider what you would be willing to pay for a home with certain amenities in the area.
Another important aspect of the site is the planning control view. The last thing a buyer wants is to buy in bulk, only to find out that the city council has plans for major infrastructure works in the surrounding neighborhood.
That’s why it’s important to do your own due diligence to avoid surprises later. If the block you are considering buying is surrounded by other vacant blocks, check zoning and land use for any engineering plans for neighboring blocks that may violate the agreement.
Before you decide to buy land, it is important to understand the nature of the plot you are considering. For example, does the lot have slopes? It is now important to understand the size and nature of the slope. This will allow you to investigate the additional cost of the slope prior to the construction phase and determine if your budget can cover it.
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Another thing to consider is the nature of the soil on the plot. If the soil classification is not perfect, it will affect the construction cost of the house foundation.
Always check the orientation of the plot. In the southern hemisphere, the most popular direction is north. This is because the northern sun passively heats the house while providing protection from the eastern and western sun. This increases energy efficiency, resulting in significant savings in energy bills.
You need to know if critical services are available. Before buying land, you should inquire about the availability of key services such as electricity, water, sewage, gas, internet and telephone. If they are available, it’s a good idea to check their location as well.
If you ask your land developer these questions before purchasing land, you can avoid the surprise of finding out that these services are no longer available after purchasing the land. Asking this question early also allows you to determine connection costs and make room for them in your budget.
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There are some legal aspects to consider when buying a plot of land. It’s best to be aware of this before buying land, in case legality turns into a deal breaker.
Before landowners can build on a plot, they must obtain planning or building permission. This approval may prevent you from developing the land as intended, so it is important to research the land and its potential before buying.
An easement affects where you can and cannot build on your land. This allows third parties, such as electricity or water authorities, to access your land. If these easements are already in place, it’s important to know about them, as they can play a role in changing your vision of a piece of land.
Sometimes there are contracts for specific blocks. This means there are restrictions on the permitted building materials. It could also mean restrictions on how the land can be developed. That’s why it’s important to have this information before making any commitments.
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Once you’ve done your due diligence and determined if the lot is right for your lifestyle and your needs, the exciting part can begin – building the home.
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If community and liveability are important to your lifestyle, it may make sense to buy a new master community.
New estates offer opportunities for all types of buyers, from first-time buyers looking to climb the property ladder, to families looking for more space for future generations; to smaller users who want less maintenance and more fun. Living in a planned community also has its advantages, from proximity to new amenities such as parks, schools and shops, to access to a range of transport options and opportunities to participate in local community activities.
So here are some questions you might want to ask yourself to help you make the best and smartest decision when it comes to bulk shopping.
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The old adage “location, location, location” should be a key consideration in all real estate purchases – not just when buying an established home, but when you’re planning to buy land.
Consider the exact location and orientation of the block and how it fits into your lifestyle and the type of home you plan to build.
It’s also worth investigating the proximity of green spaces, playgrounds, schools and public transport to see how they might meet your requirements.
A thoughtful siting decision will improve the liveability of your new home and your satisfaction with your new community for years to come.
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When you embark on a potential land purchase, doing your homework on the land developer’s experience and reputation will give you peace of mind.
As Australia’s largest private developer, it is a well-known and trusted leader in housing and land development, planning and creating more than 170 communities for over 40 years. We are proud to have played a role in helping more than 250,000 people realize their Australian home ownership dreams.
Before you consider registering to buy a piece of land, it is important to do due diligence on the plot of land you plan to invest in.
As a buyer, you should do proper research to consider land size, drainage and location before deciding to purchase any land.
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If possible, it is best to visit the site in person and contact the local council or county to determine the development application process and if there are any restrictions on land development. This could include potential restrictions on the percentage of land a building can occupy, as this could affect any design ideas for your new home.
It’s also worth checking that infrastructure and utilities are in place. Is water, electricity and sewage available?
The zoning of the land will determine what you can build and how the block will be used, so you must be aware of all relevant permits before building on your site.
Consider if there are height restrictions, if special applications may be required to do business on the property, or if you want to own a chicken coop.
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What stamp duty can I expect to pay? If I buy this land, will it be tax-free?
In most states and territories in Australia, stamp duty is prorated based on the price of your property. Basically, the cheaper your property is, the less stamp duty you will pay, but the threshold varies from country to country.
Aside from the country in which you buy, the total stamp duty will depend on the purchase price and whether you are a first-time buyer, homeowner or investor. Stamp duty can also be affected by whether the property is a primary residence or an investment.
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