Key factors to consider when buying land.
Purchasing land is an appealing option for those looking to build their dream home, but it’s worth remembering there can be just as many considerations when buying an established home. Doing your due diligence will help you find the right block for your needs while also avoiding any costly surprises along the way.
Whether you're looking to purchase in a metropolitan or regional area, no two blocks are alike, with each presenting its own set of challenges. Before taking the plunge, these are the key factors to consider when purchasing land
Understand the local climate of the area you want to purchase land - research the average yearly rainfall, highest and lowest temperatures, and seasonal changes. Whether you choose Tropical North Queensland or the Snowy Mountains, the local climate will significantly impact the type of home you build. It will also give you insight into how the house should be insulated, types of vegetation that will grow, how to prepare for potential weather conditions and how much energy you might expect to use.
Make sure you research the zoning regulations for any land you’re considering. Zoning specifies what a block of land can be used for (residential, agricultural, commercial or industrial purposes) along with the permitted building size and location, and whether single or multiple dwellings are allowed.
Councils can have different zoning rules and regulations so always check any applicable zoning restrictions with the council where the block of land is located.
Access to utilities
Does the block of land have access to utilities, including water, gas, and electricity? Investigate which companies can provide this and the costs involved. The first utility to check is the water source and how it would be connected through the property. Understanding the local water restrictions and the possibility of collecting rainwater can save you time and money down the track.
Whether any building covenants apply
Before purchasing a block of land, especially in a new development or subdivision, it's essential to check if any building covenants apply to it. These are conditions or restrictions imposed on the property you plan to build in order to maintain certain standards or protect the aesthetic appeal and value of surrounding properties.
A covenant can significantly impact what you can and cannot do when it comes to building, so making sure you’re informed beforehand is crucial for achieving your future plans.
The size and type of home you plan to build
Understanding who will occupy the finished property will determine the type and size of home to be built, and in turn, whether the block you’re considering will be suitable. Singles, retirees or young professionals may prefer a property that is smaller and easy to maintain while families with children will often lean towards something with a larger footprint, more bedrooms and a substantial backyard.
Terrain and soil quality
It is important to note the terrain on the block of land and anticipate the costs involved before construction begins. If it is a steep block of land, excavating and levelling can be costly. The same applies to removing trees and rocks. If you are looking for a beachfront escape, consider how close the ocean is and whether erosion is an issue.
Conducting a soil test will also ensure you purchase a high-quality block of land with no hidden nasties. The test will look at the soil’s physical and chemical characteristics to determine if it is safe and stable enough to build on. A good soil composition will also minimise the cost of building a sturdy foundation.
Proximity to amenities
Whether you have your heart set on building your dream home or a retreat-like escape, do your due diligence into what the location offers. Consider the land's proximity to amenities, including schools, medical centres, parks, public transport, and shops. Being situated close to features like this will ensure your investment is likely to increase in value in the long run and be more convenient while the property is occupied.
Block orientation, size, and shape
Pay attention to the orientation of the block and figure out how the property can optimise its natural features. For example, a north-facing home will ensure the house receives substantial natural light and warmth while also protecting it from the excessive summer heat. If your goal is to minimize bills, paying close attention to the orientation of the property will help immensely.
For more information and advice on what to look out for when purchasing land, reach out to your local Belle Property office or agent today. View our current range of new developments, including land and home packages, currently for sale.