So you’ve decided to buy a block of land, but before you start making grand plans for your envisioned property, there are two things you need to do:
- Set a budget: Settle on a figure that is within your current means, and that’s realistic in the long-term. We highly recommend speaking to your bank to discuss the possibility of a loan, and to get their informed opinion on what you are able to afford.
- Start hunting for the perfect piece of vacant land: Even if you feel certain that you’ve found the right piece of land, you need to do some research and shop around. Initial factors to consider are location, and whether or not the land is suitable for the prospective development. It’s also worth getting informed on any council restrictions, as well as rules and regulations surrounding new developments in the area.
Finding the Perfect Piece of Land: Factors to Consider
These are the invisible points between where your property ends, and where the neighbours’ begins. Prior to signing a property settlement, it’s important to examine how a piece of land is subdivided, and to ensure that the subdivision matches what is shown in the documents.
Sewer location largely determines where and how your property will be positioned. The local council will be able to provide details on the sewers running on the vacant land you’re interested in – such as depth and fall. This is information worth filing for when you’re dealing with contractors down the track.
Use of Land
Just because the land is there, doesn’t mean it can be used any which way. In WA, rules and regulations surrounding use of land can vary significantly. Different local councils will have different standards regarding factors like the house size and height. Trees may also require clearing for the property to be built, another factor requiring council approval. Before speaking to the council, it can be worth getting a site inspection by a reputable builder – so that you know the specifics regarding how the development will come to be.
Location of the Land
Before signing off on a piece of vacant land, we highly recommend you look into whether the area is susceptible to damage by natural elements, such as floods and bushfires. If the answer is yes, you may like to look into vacant land elsewhere. Another option could be to liaise with a reputable builder, and see if there are heavy-duty building materials made to withstand environmental damage.
Purchasing a block of vacant land is easier said than done. Our property settlement experts will walk you through the steps, take care of the fine details, and do all the checks on your purchase contract. Work with us and we’ll make the process of choosing the perfect piece of land a smooth and stress-free one.