This article is for general information purposes only and reflects the state of information at the time of publication. It is not legal or financial advice. Always seek professional advice tailored to your specific circumstances before making decisions.
If you’re considering buying land to build your home, there are certain things to consider to ensure the block is right for you.
10 Things to Consider When Buying Land
Choosing a block of land to build your dream home is exciting. Every family has different needs, and factors like finance, services available, building restrictions, and design guidelines are important considerations.
Here are 10 key things to know before investing in a block of land:
1) Lifestyle
Choose a block that matches your family’s lifestyle. Visit the local area, explore amenities, schools, cafes, beaches, rivers, or parks to ensure it offers the lifestyle you desire.
2) Is it a flat block (benched)?
Reputable developers ‘bench’ their land to make it flat with a 2% gradient for water run-off. Flat blocks generally reduce building costs.
3) Services Provided
Check that essential services like natural gas, NBN, recycled water, electricity, sewer, and water are available. Lack of services can become costly down the track.
4) Finance
If financing, ensure unconditional pre-approved finance for at least six months. Financial institutions release funds only after the land is registered, which can take time.
5) Home Alterations
Make all alterations to your home design early in the planning stage to avoid fees later. Consider how the layout fits your lifestyle and future needs.
6) Bushfire & Flood Areas
Building is still possible in designated bushfire or flood zones, but materials and requirements may be more expensive. Factor this into your budget.
7) Time
From exchange to moving in, the process varies. Land registration usually occurs after developer completion, and average home construction takes around four months. The full process from land purchase to moving in can take about 12 months.
8) Design Guidelines
Many estates have design guidelines to maintain a cohesive look. Guidelines may include roof pitch, materials, and fencing requirements, helping to preserve property value.
9) Land Size
Choose a block that fits your needs: house size, bedrooms, backyard, pool, shed, and space between neighbors. Consider both your lifestyle and future plans.
10) Trees on Blocks
Existing trees can be beautiful but may cause issues during construction. Check that you’re comfortable with the trees on the property, as removal may require council approval.
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